First National Bank has announced the ground breaking of a R355 million office development in Tshwane which will serve as the regional head office for FNB, Rand Merchant Bank and other divisions within the group.
The complex, situated in the eastern suburb of Menlyn, will accommodate over 850 people and will consolidate numerous regional offices of the FirstRand group scattered across the city, many of which have been leased up to this point.
The development will be owned under sectional title by both FNB and Growthpoint and will have two separate office blocks of 15,080 m2 and 9,880 m2 respectively. The development is designed with a super basement of four levels.
The building will comprise of a ground level and five levels of office space.
"We strongly believe in the economic growth potential of Tshwane and the building of the Menlyn office complex is part of our continued investment into the city," said Howard Arrand, FNB Gauteng Provincial Chairman.
"The city of Tshwane, apart from its importance as seat of government for the country, finds itself at the business corridor gateway to the new wave of mining activity just north of the city not to mention the growing business traffic through to Zimbabwe and beyond. Revamped airports, new six lane motorways between Johannesburg and Tshwane and the recently commissioned Gautrain are some of the infrastructure now pointing to much growth potential and a buoyant future for Tshwane. We want to contribute to and be part of Tshwane's growth story," Arrand continued.
"We further hope that through developments such as this we will contribute significantly to jobs and income generation in the province, specifically in the local construction industry. The specifications of the building surpass the normal criteria of a commercial building with raised access flooring for flexible voice/data/power reticulation to workstations as well as significant emergency power backup installations," added Arrand.
"Energy efficient technology has been specified in the air-conditioning, power and lighting installations. Once complete, the building will be managed by FNB to conform to internationally recognized standard for environmental and safety operational criteria encompassing environmental best practice methods in respect of waste recycling, energy efficiency and safety," concluded Arrand.
FNB will take occupation of the building in February 2013.
Source: I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge
