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

Posted On Thursday, 18 February 2016 13:57 Published by
Rate this item
(2 votes)

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

Most Popular

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
  TSHWANE REGIONAL  MALL
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Founder Marc Wainer retires from Redefine Properties

Aug 31, 2019
 MARC WAINER
JSE listed diversified real estate investment trust Redefine Properties today announced…

Redefine Properties appoints Daisy Naidoo as independent non-executive director

Aug 30, 2019
 STRATE 1
Redefine Properties appoints Daisy Naidoo as independent non-executive director.

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
 BAREND DE LOOR
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Please publish modules in offcanvas position.