First private sector investor begins construction at Dube TradePort

Construction has begun on the first private sector investment at Dube TradePort. Shree Property Holdings has become the precinct's first private investor, committing R460 million to investment in distribution warehousing for logistics tenants, taking up 23 Dube TradeZone sites for its massive 60 000 sqm undertaking, as well as an additional 15 000 sqm facility. Construction follows a deal brokered in February this year for a multi-phased development approach. Indications are that an initial 12 000 sqm first phase is to be constructed, taking about six months, with future phases following soon thereafter. Pran Shree, chief executive officer of Shree Property Holdings, said: “The tenants we are talking to, in terms of taking up space, are the world’s top 10 logistics users, so we want to charter our own aircraft to fly small loads of 150 tons of fruit to China and return with clothing.”