Growthpoint Properties unveils $24.7 million coastal development project   

Growthpoint Properties has started construction on Tecoma Park, a R392 million ($24.7 million) logistics development in KwaZulu-Natal, as the JSE-listed property group deepens its exposure to South Africa’s coastal markets. 

The project will deliver 36,830 square meters of new warehousing space in Cornubia Town, a fast-growing economic hub north of Durban. Growthpoint said the development is designed to meet sustained demand for modern logistics space in a province that anchors key trade and distribution routes.

Growthpoint bets $541.5 million on KZN

Tecoma Park forms part of Growthpoint’s broader push into logistics assets and stronger-performing coastal metros. The company said KwaZulu-Natal and the Western Cape remain central to its domestic investment plans. 

“KZN remains a core investment region for Growthpoint,” said Estienne de Klerk, chief executive of Growthpoint Properties South Africa. “Our portfolio in the province continues to record high occupancy levels, supported by steady tenant demand across sectors.” 

Growthpoint’s KwaZulu-Natal portfolio is valued at R8.6 billion ($541.5 million) and covers about 560,000 square meters of lettable space across more than 50 properties, including logistics, office, retail and healthcare assets. 

The company is currently investing about R1.5 billion ($94.5 million) in developments and refurbishments across the province. Projects include an R800 million ($50.4 million) purpose-built student housing scheme near the University of KwaZulu-Natal’s Howard College campus. 

Greg Worst, Growthpoint’s regional head for KwaZulu-Natal, said demand is being supported by the province’s ports, airport and logistics infrastructure, alongside expanding consumer markets. “Well-located, modern space in key nodes continues to attract tenants,” he said.

Eight-unit logistics park by 2027

Scheduled for completion in 2027, Tecoma Park will comprise eight flexible logistics units ranging from 2,790 to 5,264 square meters. Adjacent units can be combined to accommodate users requiring up to 10,000 square meters. 

The park is located next to Cornubia Mall, about 12 kilometers from King Shaka International Airport and 21 kilometers from Durban Harbour, with direct access to major arterial routes. 

Jason Reeves, head of asset management for logistics and industrial property at Growthpoint, said the development responds to a shortage of high-quality logistics facilities in the region. “Demand for well-designed, modern warehousing in KwaZulu-Natal remains strong, particularly for space that is close to transport infrastructure,” he said. 

Growthpoint backs KZN logistics growth

The units will feature high internal clearances, efficient loading bays with dock-leveller and on-grade access, and integrated office space. The layout separates truck movement, industrial activity and office access to improve safety and efficiency. 

Sustainability measures include rooftop solar photovoltaic systems, energy-efficient lighting, heat-pump water heating and building designs that maximize natural light. Landscaped green areas will be incorporated across the precinct. 

Growthpoint said Tecoma Park reflects its confidence in demand-led logistics developments and in KwaZulu-Natal’s role as a key logistics gateway. 

Growthpoint, founded in 1987 and based in Sandton, is South Africa’s largest real estate investment trust. As of 2025, it owns 388 properties locally and holds investments in Australia, Romania and Poland.