Public Investment Corporation and Isibonelo Property Services partners to co-own Tshwane Regional Mall

Posted On Thursday, 18 February 2016 13:57 Published by
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The Public Investment Corporation (PIC) and Isibonelo Property Services (Isibonelo) have entered into a co-ownership and funding agreement for the Tshwane Regional Mall (TRM). 

Tshwane_Regional_Mall

In terms of the agreement, the Corporation will acquire 70% stake and provide funding to Isibonelo for its 30% stake for the development of a 60 000 square metre Mall based in Denneboom Station, Mamelodi.

The transaction is valued at R996 million. The Mall, which will form part of the economic and transport hub in the township of Mamelodi was officially unveiled by Gauteng Premier, David Makhura and Tshwane Executive Mayor, Kgosientso Ramokgopa late last year.

The magnificence of TRM is its inclusive nature and easy accessibility to the majority of community members through the integrated transport hub accommodating taxi, train and bus services. “We are reinventing shopping, offering customers a unique and convenient shopping experience. 

Investment in Denneboom is a way of responding to the Gauteng government’s call for investment in townships.

We believe that investing in townships will have positive impact for the local community as it will create both short term and long terms jobs,” says Shadrack Mthethwa, Chief Executive Officer of Isibonelo Property Services. It is expected that the mall will be fully operational by late 2017.

Last modified on Thursday, 18 February 2016 14:11

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