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A look at Park Square: a stunning new R1 billion development in Umhlanga

A look at Park Square: a stunning new R1 billion development in Umhlanga

Nedbank has announced that it will be investing R1 billion into the mixed-use “Park Square” development that will be built in Umhlanga, KZN.

Nedbank will finance the development, and will occupy around 50% of the 40,000 square metre floor space, which will offer a mix of office space and retail space.

The office space will span five blocks along the perimeter of the development site, while the retail space will be on the ground level surrounding a public piazza.

According to Nedbank, the group sees KwaZulu Natal and the Umhlanga region in particular as “vital retail hub” for South Africa, and the R1 billion investment demonstrates its confidence in the region.

Like many of Nedbank’s other development initiatives – such as its regional office in Menlyn Maine – the Park Square development will also have eco-friendliness in mind, and will have a 4-star Green Star rating.

Development has already started, with occupation scheduled for the fourth quarter of 2018.

The development is being designed by MAP Architects, which have released these conceptual designs:

Read: A look at The Arch – a stunning R600 million development planned for Umhlanga

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  • Naeem Essop

    Nedbank’s head office is not at Menlyn Maine. It’s at 135 Rivonia Road, Sandton. Menlyn Maine is just another campus located in Pretoria. Source : I work there

    • lino_lupus

      Phew!!!…I thought for a crazy moment they were describing Collen Maine, the orange Oros favorite……..

    • RodneyVikens

      Eish…. shows how accurate the information is they post here.

  • Lone Stranger

    If you think about it, R1 billion is actually a bargain for a place that size in that area. They will makeup those funds in very little time with the retail stores. Umhlanga is a gold mine.

    The office however is actually quite surprising, due to the looming threat of junk status hanging over the bank’s head.

  • Skerminkel

    Just another example of how SA is going to the dogs and everyone is divesting.

  • SmartPhoneGeek

    Nice one. Sandton watch out!

  • RodneyVikens

    Very nice 3D concepts!

  • Deal_with__it

    Got to get out of those CBDs!

    • Aristophanes

      By creating new ones? Umhlanga used to be such a great place to live. Now it’s just another Durban. And as DumbSA said here, the traffic gets worse and worse without any real action to fix it.

      • Deal_with__it

        It will rot like the current CBD.

        • Aristophanes

          I think it’s already doing that, but I’m obviously biased as I remember it when it was just a lovely little village. Until bloody Tongaat Hulett decided to stop polluting us with burnt sugar cane ash and start with office blocks and those awful ‘Pearls’ – what any oxymoron that is!

  • DumbSA

    Umhlanga is incredibly congested over peak periods due to exceptionally poor road/parking infrastructure, this is going to make it untenable for the future.

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