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Investec Property, the real estate arm of Investec, an Anglo-South African international banking and wealth management group led by South African executive Fani Titi, has successfully secured a major tenant for its groundbreaking R6 billion ($313 million) logistics park in Durban.
The Naspers-owned e-commerce leader, Takealot, has inked a deal to occupy a substantial distribution warehouse within the upcoming facility, marking a significant win for Investec Property and highlighting the surging demand for modern logistics infrastructure in South Africa’s key economic hubs.
The new logistics park is part of Investec’s largest ongoing property project in South Africa, the Brickworks development. Spanning 157 hectares in Avoca, near the Riverhorse Valley area, the development signifies Investec’s commitment to revitalizing the KwaZulu-Natal region (KZN).
Despite significant damage caused by the 2021 riots, the strategically located Durban logistics park, built on the former Corobrik factory site, aligns perfectly with the growing demands of e-commerce giants like Takealot.
Revolutionizing supply chains: Investec’s Brickworks development sets stage for economic growth in KZN
“Investec Property announces its ambitious project, the Brickworks business and logistics park, poised to emerge from the remnants of the old Corobrik factory site,” stated Investec in a release. The project stands as a symbol of progress in one of the region’s last available infill lands.
Supported by the eThekwini Municipality, the Brickworks development aims to transform the region into a leading logistics hub for Africa, revolutionizing supply chain dynamics in the province. “Through meticulous planning, our site is ready to unlock unprecedented efficiencies, fostering a seamlessly interconnected economy and driving direct growth for KZN,” the statement added.
“In collaboration with eThekwini’s innovative City ‘One Stop’ Catalytic Project Unit, we’ve harnessed the potential of this crucial site,” said David Rosmarin, co-CEO of Investec Property. “The premier positioning of Brickworks promises to enhance the artery of Southern African commerce across the region,” he emphasized.
Investec’s strategic pivot: Beyond finance, diversifying into new frontiers
The recent move by Investec highlights the diversified nature of its business, extending beyond financial services. Subsidiaries like Investec Property continue to lead and champion new growth opportunities, keeping the group among Africa’s leading banking and wealth management groups.
Under the leadership of Titi, Investec has experienced substantial profit growth. Figures rose from £556.37 million ($696.75 million) at the end of the 2022 fiscal year to an impressive £817.43 million ($1.02 billion) at the end of the 2023 fiscal year.
Titi, a top figure within the Investec Bank Group, has been instrumental in steering the group’s strategic direction, showcasing growth and resilience in the face of challenges.
