R1 billion Thavhani Mall to open next year (South Africa) 

The R1 billion Thavhani Mall in Thohoyandou, Limpopo will open its doors next year.The R1 billion Thavhani Mall in Thohoyandou, Limpopo will open its doors next year.
The rapidly growing Thohoyandou town in Limpopo province is set for a major boost when the R1 billion Thavhani Mall opens its doors on 24 August next year.
The on-going shopping mall developments and others that are still in the planning phase in South Africa, is increasingly driving concerns about an oversaturated retail property market despite consumer spending being in the doldrums.
However, still, some property punters believe the market can take it.
Local businessman, Khosi Ramovha of Thavhani Property Investments, first envisaged a regional mall in the area seven years ago. He brought on board pre-eminent South African shopping centre developers and investors, Flanagan & Gerard Property Development and Investment, to help realise this vision.
Thavhani mall will be the largest shopping centre in Thohoyandou as well as the greater Thulamela Municipality.

The 50,000m2 regional shopping centre is owned and developed by Thavhani Property Investments. The mall is the anchor and catalyst of the mixed-use urban precinct development, Thavhani City, which is being developed on a 27ha site in Thohoyandou.
Thavhani City is a shared vision between Thavhani Property Investments and the Thulamela Local Municipality. It will also include the Thavhani Office Park, a motor-city and private healthcare facilities. The precinct currently includes a library, community centre, information centre, and the 40,000-capacity Thohoyandou Stadium.
Last year, JSE-listed real estate investment trust Vukile Property Fund secured a one-third stake in the mall. The stake will transfer to Vukile upon completion of the mall.

Ramovha says: “The centre is stimulating the local economy. In addition, it will enhance the lifestyle and urban fabric of region. The mall is already creating jobs while it is under construction and, upon opening next year, will introduce hundreds of new full-time jobs. And, importantly, sourcing labour from the local community has been prioritised.”
The Mall is at the heart of the growing regional economic hub of Thohoyandou, making it easy to access. It has excellent proximity to its existing CBD and major regional roads. The mall is located on the R524, which links Louis Trichardt to Punda Maria and is adjacent to the primary crossroad with the major north road to Sibasa and south to Giyani.

Paul Gerard, Managing Director of Flanagan & Gerard Property Development and Investment, a shareholder in Thavhani Property Investments, says: “We are excited that, by this time next year, the mall will be ready to make history by opening its doors to the community and its neighbours, offering them the biggest selection of shopping and leisure retail in the region.”

The mall will boast over 134 shops, a number of restaurants, and service outlets. it will also introduce many new retail brands to the region, including HiFi Corp, Spur, Panarottis, Pep Home, Green Cross, Jam Clothing, Torga Optical, Donna Claire, Queenspark, Mr Price Home and Bogart Man. 
It will be anchored by Woolworths, Edgars, Pick ‘n Pay and Superspar.
The tenant list that has secured their footprint in the double-level mall include Truworths, Foschini, Markham, Spitz, Mr Price, Pep, Ackermans, Jet, Standard Bank, Nedbank, Capitec, Shoe City, Miladys, Legit, Clicks, Link, Roots, Studio 88, Exact, Cross Trainer, John Craig, Totalsports and Sportscene.
Thohoyandou is a town in the Limpopo Province. It is the administrative centre of Vhembe District Municipality and Thulamela Local Municipality. It is also known for being the former capital of the bantustan of Venda.

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Posted on September 12, 2016, in #retail, #southafrica, Other. Bookmark the permalink. Leave a comment.

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