25 Apr 23

KZN Comeback: Innovation leads the way forward

Founded in 2012, Fundamentum Property Group has grown extensively. They own, develop and manage a portfolio of quality properties spread over retail, commercial, industrial and logistics developments in KZN.

CEO of Fundamentum, Carlos Coreia, has been investing an estimated R2 million in Durban for more than two decades. Carlos adds that they recently made the biggest investment in a township in South Africa, worth R410 million.

Property development in KZN can be a lucrative endeavour, especially if the location is right. Durban will always be prime as it shows off its coastal advantage. There’s also such an incredibly warm entrepreneurial spirit. Durban is often overshadowed by Johannesburg or Cape Town, but there are a lot of successful people in KwaZulu-Natal.

In terms of future growth potential, Fundamentum is looking at the Outer West. This region is where the city is looking to invest in infrastructure to create opportunity. This kind of positivity can be harnessed by investors and developers who will in turn be creating momentum.

The recent investment into the Outer West, through the city, is a strong testament to how serious they are about investing in the area. When this happens, we will not only create a new space for property development in South Africa, but we will also elevate the value of properties in the area.

Success lies in innovation

Innovation allows businesses to develop new products, services, and processes that differentiate them from their competitors and help them grow. The constant act of finding new ways to do old things better and efficiently allows businesses to adapt to changing market conditions, create new products and services, and improve their operations.

By challenging the norm, businesses can gain a competitive advantage, increase efficiency, and improve customer satisfaction. Additionally, innovation can help businesses stay relevant and adapt to changes in their industry. However, the process can be challenging, and companies often struggle to find ways to foster innovation within their organisation.

Here are three key ways to foster a culture of innovation:

Encourage collaboration and communication

When team members collaborate and communicate effectively, they can share ideas and insights, identify opportunities for improvement, and work together to develop new solutions. To foster collaboration and communication, organisations should create an environment that encourages open communication and promotes teamwork. This can be achieved through team-building activities, open office spaces, and regular meetings to share ideas and progress.

Provide resources and support

Organisations must provide their employees with the tools and resources they need to develop new ideas and solutions. This may include access to training, funding for research and development, and support from management. When employees feel supported and empowered, they are more likely to take risks and develop innovative solutions.

Embrace failure and learning

Innovation is not always successful, and failure is often part of the process. However, failure should be viewed as an opportunity to learn and improve. Organisations should create an environment that encourages experimentation and risk-taking, and embraces the learning that comes from failure. This can be achieved through regular feedback and debriefs, celebrating small successes, and recognising the effort and creativity of team members.

Learn more about how companies across KwaZulu-Natal are recreating pockets of excellence. Fundamentum is recreating a part of the province that will help individuals, communities and businesses grow and give them the opportunity to thrive.