Business Day Reporter

PROPERTY developer Amdec Property Development says it has secured three large development sites, collectively covering 120ha, in the Pietermaritzburg, Hilton and Howick areas and that its investment will total R750m over the next five to seven years.

Development rights are already in place for two of the sites, with the first project set to be a secure, gated development valued at more than R400m.

“With Pietermaritzburg now KwaZulu-Natal’s administrative capital, this area has a growing appeal to home owners. There is a huge potential in the midlands region and we have great confidence for its future.

“These developments will serve to assist in enhancing local economies, infrastructure and services,” says Magnus McDowall, regional director for Amdec. Amdec is the joint owner of mixed-use precinct Melrose Arch in Johannesburg.

In Cape Town, Amdec’s portfolio includes Westlake Lifestyle Centre, Steenberg Office Park and its own headquarters, Amdec House.

Source: Business Day