Logistics Property Developer Improvon Partners With Nedbank To Launch A Logistics Park Called Dakota Precinct
Logistics Property Developer Improvon Partners With Nedbank To Launch A Logistics Park Called Dakota Precinct. South African logistics property developer Improvon has announced that it has launched a logistics park called Dakota Precinct in collaboration with Nedbank Property Partners. The park is situated in near Rand Airport in Germiston, Ekurhuleni.
Improvon is a specialist real estate investment company focused on the warehousing, distribution and logistics property sector within sub-Saharan Africa. All the properties in the portfolio have been developed, built, tenanted and managed by the Improvon group. Improvon was established in 1995 with the founders still active in the business.
Improvon told MoneyWeb that, “The full scale of the precinct is around R1.3 billion and we expect the build out to be over the next five to seven years, depending on market conditions. So the first phase comprises the first little precinct of mid-units, only about 7 500 square metres, but the full first phase is roughly 20 000 square metres in scale. We split the full development up into five different phases, so that it makes it more manageable from a servicing and planning perspective. Like that, we’ve got anticipated or intended-type developments for those various phase.”
Nedbank offer the following solutions through its frontline clusters, Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking. Nedbank Group’s primary market is South Africa, however, it is continuing to expand into the rest of Africa. Outside South Africa the company operates in five countries in Southern African Development Community (SADC), through subsidiaries and banks in Lesotho, Mozambique, Namibia, eSwatini (Swaziland) and Zimbabwe. In Central and West Africa it has a strategic alliance with Ecobank Transnational Incorporated (ETI) and it has representative offices in Angola and Kenya.
This project is set to bring a lot of development and growth into the logistics sector as more employment opportunities will be created. Other businesses will also benefit from this initiative as this is meant to be a catalyst of growth in all aspects of the industry, hence the project has a hefty investment of R1.3 billion.
