With a decade of industrial property development behind it, Shree Property Holdings is poised again for still greater diversification in both the South African and international property space. According to Pran Shree, Operations Manager for the company, Shree Property Holdings is set to mark its landmark 10th anniversary in business with a move to infiltrate the commercial and residential property sectors.
 
The company, already a recognised leader in developing, leasing and managing AAA-grade new generation industrial warehousing solutions, connecting blue-chip clients to key logistics supply chain nodes regionally, nationally and internationally, is set to make a R220 million investment in a 4-star Green Rated commercial development in Ridgeside, adjacent to the upmarket Umhlanga Ridge Town Centre. "This, the company's first foray into the commercial sector which will bring on-stream a 6 500 square metre development, known as Pran Boulevard, forms the foundation for our business diversification strategy," said Shree. Pran Boulevard, an iconic new addition to the burgeoning Umhlanga Ridge skyline, is being developed in the upper-most quadrant of Ridgeside, a superior sea-facing piece of real estate and one of South Africa's most sought-after urban development nodes.

The multi-storey structure provides exceptional premium office space and is to be anchored by a leading professional service company and one of South Africa's Big-4 auditing firms. It offers two floors of 600 square metres available to the business community. It will also become the property giant's new headquarters. Shree Property Holdings is not, however, resting on its diversification laurels and is set to commence work on a mega mixed-use project at Shakaskraal, strategically positioned in the heart of Durban's burgeoning Northern Urban Development Corridor. This, the company's latest project, creates yet another dimension for a company on the move. "This will be our first venture into the South African residential property development sector and our commitment is to establish some 4 000 low to middle-income dwellings in the next five to seven years," added Shree. Although an ambitious company first in this country, Shree Property Holdings is no stranger to the residential scene, having already been involved in a number of successful residential interventions in the United States of America.

The project, located at Woodmead in the Shakaskraal area, 50 km north of Durban, comprises industrial, commercial and residential development within a fast-emerging business and manufacturing hub. Already, the project is attracting significant interest from those looking to locate close to King Shaka International Airport and on major transport routes. Shree stressed: "Durban is showing great appetite for business growth, but with land at a premium, we had the vision to recognise Woodmead's potential as the future direction of business development here."

 The industrial element of the project, Pran Park - Shakaskraal, comprises a 250 000 square metre serviced 'Greenfield' site, with seven platforms available for industrial development, creating new industrial opportunities and vital employment opportunities in a largely rural area.
 Having secured its first industrial tenant, leading stainless steel cookware manufacturer, Inoxa Industries, the company is providing a customised 25 000 square metres facility under roof on a 50 000 square metres site, whilst simultaneously entertaining a host of business development enquiries about manufacturing sites at Pran Park - Shakaskraal, the development of which will make a significant socio-economic impact in the area.

 The company's strength lies in its flexibility and ability to offer full turnkey development solutions, land for purchase or leased premises.
 Meanwhile, Woodmead's 80 000 square metre commercial component is set to attract large-scale retailers to the area, to the ultimate benefit of the KwaDukuza Municipality and the low to middle-income residents in the surrounding areas. A strip-mall, comprising 25 000 square metres of retail space under roof is planned for construction and will complement a newly developed taxi rank, built by the KwaDukuza Municipality.

Never a company to balk at a challenge, Shree Property Holdings' residential property launch is poised to make a massive impact on the needy low to middle-income housing market here. Spurning the saturated high-end market on Durban's north coast, Shree said that the company was committed to targeting the oft ignored 'gap market' - low to middle-income earners - paving the way for a new community in the Shakaskraal area with its 4 000-unit housing intervention. Units will be developed in a phased approach, Shree said of the fully serviced site.

 Infrastructural inputs have been provided for by the KwaDukuza Municipality and plans exist for the development of schools and clinics.
 Shree said: "We anticipate breaking ground on the 200 000 square metre phase one construction project, building 400 residential units, during early 2018. This, we believe will create wonderful new opportunities for the creation of joint ventures between both provincial and local government structures and the private sector.
 He added: "Ultimately, our objective is to ensure that we deliver decent homes, enabling ordinary people to enjoy dignified ownership. Our goal, however, is to provide added value by making these homes still more liveable through the cost-effective introduction of so-called high-end benefits."
 Shree Property Holdings is clearly a company with a social conscience.

 "The vision behind Shree Property Holdings' rapid growth and business diversification is to be in a position to contribute meaningfully to business and community development and to play a sizeable role in facilitating sustainable, permanent new employment opportunities across all our business activities," Shree concluded.