Shree Property Holdings, a family-owned property developer based in Durban, has committed R2 billion ($122 million) over the next three years to industrial property acquisitions and developments in South Africa’s KwaZulu-Natal province, targeting logistics facilities near the Port of Durban and major transport corridors. Founder and CEO Pran Shree announced the investment alongside the Trade and Investment KwaZulu-Natal Conference.

The programme will focus on the South Durban Basin, where proximity to the Port of Durban and established transport corridors makes industrial property strategically important.

Shree Property Holdings also plans further investment at Woodmead Industrial Park in Shakaskraal, on the KwaZulu-Natal North Coast, with construction, redevelopment and new tenant occupancies expected to support job creation.

Durban sites get new life

Two major acquisitions anchor the investment plan: 1236 South Coast Road and 1400 South Coast Road, industrial properties measuring approximately 60,000 square metres each. Formerly associated with paint manufacturer Plascon and food producer Tiger Brands, respectively, the sites are being repositioned to accommodate modern logistics and distribution businesses.

At 1236 South Coast Road, Shree Property Holdings plans to develop a distribution hub offering approximately 40,000 square metres of covered space, supported by a hardened container yard. Occupation is targeted for March 2028. The second property will feature a similar 40,000-square-metre facility designed to handle large-scale logistics operations, with occupation expected in December 2028.

The acquisitions will expand the developer’s industrial footprint around Durban’s port, one of KwaZulu-Natal’s key economic assets. Combined with neighbouring land already owned by the group, the 1400 South Coast Road property will form part of a consolidated industrial holding of approximately 130,000 square metres. The group’s South Durban Basin portfolio will exceed 700,000 square metres.

Port proximity drives strategy

Shree said the company sees opportunities to redevelop established industrial sites for businesses requiring modern distribution infrastructure while preserving their role in Durban’s manufacturing economy. He said the group’s strategy centres on acquiring well-located properties and creating value through redevelopment and active management, with the port and supporting transport corridors central to its long-term plans.

The investment comes as industrial property developers seek locations that can connect manufacturers, distributors and retailers to major transport networks. Shree Property Holdings is positioning its portfolio around established industrial nodes, where access to port facilities and freight routes can support logistics operations and attract businesses requiring large warehouse and distribution spaces.

North Coast expansion continues

The three-year programme also covers Woodmead Industrial Park in Shakaskraal, within the iLembe District Municipality. The nearly completed development comprises nine industrial warehouses, with automotive components manufacturer Hesto Harnesses occupying a significant share of the available space and investing in expanded assembly-line operations.

A limited number of opportunities remain at the park, including completed facilities and land for additional industrial development. Shree Property Holdings attributes demand for larger industrial sites on the North Coast to residential and commercial expansion, which is increasing the need for facilities serving growing businesses and employment markets.

Group targets another 200,000 square metres

As it approaches two decades in KwaZulu-Natal’s industrial property market, Shree Property Holdings has built a portfolio exceeding 1 million square metres. Its longer-term target is to acquire and develop another 200,000 square metres of AAA-grade industrial space across strategic locations, with the R2 billion ($122 million) investment commitment forming a central part of that expansion.

The Durban-based, family-owned group operates across industrial, commercial, retail and residential property. Its warehousing and logistics strategy focuses on developing modern facilities in locations designed to serve businesses across South and Southern Africa, while its broader portfolio includes retail developments and residential projects.