Nick Wilson

Listed property loan stock company Resilient Property Income Fund said yesterday it had received approval from the Planning Tribunal, constituted in terms of the Development Facilitation Act, for retail rights to develop a 75000m2 retail centre in Polokwane.

Resilient CEO Des de Beer said the rationale behind the planned Mall of the North was to meet strong demand for retail in Limpopo.

The centre would be the largest mall in the province, he said.

“In addition we also received approval for 1000m2 of medical suites and 500m2 of office rights,” said De Beer.

Resilient owns 48% of the planned development, to be built on a 27ha site.

The company’s partners in the development include local community representatives, local businessmen and well known developers Flanagan & Gerard.

Flanagan & Gerard developed the Highveld Mall in Witbank and the Vaal Mall in Vanderbijlpark.

“We aim to start developing the centre next year.” De Beer said there was demand for the full 75000m2 mall from national retailers. “Limpopo is growing strongly after new mines have opened in the province.”

Resilient announced its interest in the planned development in its interim financial report of June 30.

Business Day