Construction on Thavhani Mall in Thohoyandou commences

Official construction work on the new R1bn Thavhani Mall in Thohoyandou, Limpopo, started on 31 July.

Thavhani Mall will be the anchor and catalyst development within a new, bigger commercial development node on a 27ha site in the Thulamela Municipality, dubbed Thavhani City. This is a key mega development as part of the Thulamela Municipality's vision of securing city status by 2030.
Local businessman, Khosi Ramovha of Thavhani Property Investments, first had the vision for a regional mall in the area six years ago. He later roped in pre-eminent South African shopping centre developers and investors, Flanagan & Gerard Property Development and Investment, to help turn his vision into a reality.
Vision becomes reality
Speaking at the sod-turning ceremony, Ramovha said: "This is a historic day not only for me, but also for the area as our vision is going to be a reality. This is a huge milestone for us, as it finally marks the start of construction on the mall. It has been a long time coming, but the wait will be worth it because we will now have a stunning regional mall that will be part of the bigger Thavhani City nodal development."
"Thavhani Mall is a major investment in the area and will be the largest shopping centre in Thohoyandou as well as the greater Thulamela Municipality. We are proud to be part of making this exciting mall development a reality," Patrick Flanagan, executive director of Flanagan & Gerard Property Development and Investment, a shareholder in Thavhani Property Investments, added.
"The people of Thulamela and surrounding areas can look forward to a great shopping and leisure destination in Thavhani Mall, with more than 106 retail stores, restaurants and service outlets part of its offering. There are also huge economic benefits to be had both in terms of retaining retail spend in the area and the creation of jobs during construction and when the mall opens in 2017," he said.
Landmark deal
Flanagan said as a major new regional mall project and key economic development in Thohoyandou, Thavhani Mall had attracted the attention of JSE-listed property group, Vukile Property Fund. Vukile has secured a one third stake in Thavhani Mall. The stake will transfer to Vukile upon completion of the mall in 2017.
"This one third stake is landmark deal for Vukile. As a major new regional shopping centre in Limpopo, Thavhani Mall will expand Vukile's strategic exposure to the retail sector. In addition, we are pleased to be partnering with a developer of the calibre of Flanagan & Gerard," Laurence Rapp, CEO of Vukile Property Fund, said.
Thavhani Property Investments have made a commitment that most of the labour involved in the construction of Thavhani Mall would be sourced from the local community. Local jobs would also be prioritised when the mall opens.

Posted on : 30 Nov,-0001

Buildmart is Africa's leading directory and market news website for the building and construction industry | Kenya | Tanzania | Rwanda | Ethiopia

Exhibitions In Africa

Read More