KPMG to move into R220 million development in Umhlanga

03 November 2017 2 min. read
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Global professional services firm KPMG will consolidate its presence in South Africa next summer by moving into a new office situated in the prosperous Umhlanga region near Durban. Plans for the firm’s move were finalised in November last year in an agreement Shree Property Holdings, an industrial property specialist based in South Africa.

Plans were finally made last year for the uppermost part of sea-facing Ridgeside in the prosperous Umlhanga region near Durban, and the primary tenant of the new development project will be none other than global accounting and consulting giant KPMG, one of the largest professional services firms of the globe.

The town Umlhanga has developed into a major industrial hub over the past few years, with development projects emerging rapidly, particularly across the sea front. With extensive urbanisation and financial activity, the region is fast becoming the financial and economic hub of Durban, much like Sandton, Gauteng has become the financial hub for Johannesburg.

The site in question is situated in the sea-facing Ridgeside area, and is of premium value in light of the fact that few sites remain available in the Umlhanga rocks drive. While Shree Property Holdings came into possession of the property around three years ago, with plans to develop a major industrial complex, they made the decision to hold out for a contract with the right “blue-chip anchor tenant.”

KPMG Pran Boulevard

The project, which occupies a total of 5,640 square metres, is equipped with a number of highly attractive features. Structurally, it consists of two buildings, separated by a walkway. Of the two 3500-square-meter buildings, one will act as the new headquarters of the developing firm themselves, while KPMG will operate from the other. In addition, two floors of 600 square metres each are built in to be used by the business community in general. Recreationally, the building contains a coffee shop, both for the staff in the building as well as for the public. The project has been named Pran Boulevard, named after Pran Shree, the Chief executive of the development firm.

KPMG will occupy the space in approximately April of next year. Commenting on the new space, Naresh Bhoola, Partner at KPMG said, “We believe it is going to be a shining jewel in Umlhanga precinct…it will make a statement,” adding that “this is going to be a really inspiring environment for our staff.