Growthpoint Properties has commenced construction of its new R392 million logistics facility, Tecoma Park, in the Cornubia Town economic hub in KwaZulu-Natal.
The JSE-listed company said the latest development of 36 830 sqm reinforced its continued investment in the logistics sector and reflected its preference for investment in the countrys stronger-performing coastal metros.
The companys KwaZulu-Natal property portfolio is one of the largest and most diversified in the region. Valued at R8.6 billion, it spans 560 000 sqm of gross lettable area across more than 50 logistics, office, retail and healthcare assets.
