New development underway for SA's Kimberley
By Peter Mindenhall

New development underway for SA's Kimberley

The first commercial property development to get underway in Kimberley, South Africa, in more than five years is due to be completed next June.

SA Commercial Prop News revealed Montrio Corporate Park will comprise of three office blocks, landscaped parks, storage facilities, showrooms, communal areas and a car park.

The money required for the project has been provided by Nedbank Corporate Property Finance, with regional executive at the firm Ken Reynolds telling the news agency that schemes such as this one are needed in the area.

He described Kimberley as an "important contributor to the economic growth and development of the entire Northern Cape region", adding that now the moratorium on commercial property developments in the city has been lifted, businesses need to take advantage.

Mr Reynolds asserted: "The city needs progressive retail and commercial developments like Montrio to reignite its property sector and restore its full economic value."

Earlier this month, chief financial officer of Tintswaldo Property Group Gaye Corbett told the Bizcommunity website that South Africa's commercial real estate sector is likely to become more successful over the coming years, with cities like Johannesburg and Cape Town leading the way.
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