The Futuregrowth Community Property Fund (“Comprop”) has acquired Boitekong Mall, which brings the Comprop portfolio to 25 shopping centres, with a total gross lettable area of more than 438 000m2, valued in excess of R8 billion.
Rustenburg shoppers can look forward to a brand new shopping centre – Rustenburg Mall – set to introduce its first phase in April 2021.
Rustenburg's Waterfall Mall enjoys a R33 million refurbishment
Coined the world's 'platinum capital' and with almost 130 applications for new township development pending, Rustenburg is fast expanding with economic growth of more than 13% per year
Auction Alliance will bring a large property in Rustenburg to the auction floor on March 2.
The centrepiece of the World Cup is complete but the outer perimeter, in the words of Danny Jordaan, is 'in the process of being beautified'.
Eugene Beneke, CEO of Iliad Africa Limited, the JSE-listed building materials supplier, confirmed on Monday that the group's acquisition of DOH in the North West Province had received competition commission approval.
DOH is the largest and most-established general building materials supplier in the Brits area and fills the trading space for Iliad between Tshwane and Rustenburg. DOH's highly capable and experienced management team have been retained, in line with Iliad's philosophy on owner-managed enterprises.
Beneke says the group is now proceeding with the roll out of a further three general building materials stores in the Tshwane and North West region following on competition commission approval. All well-located, the stores in Centurion and Wierda Park will begin trading end November under the well-established Ferreira's Buildware brand name and the third store in Hartbeespoort will trade under DOH.
The acquisitions are expected to add at least R180 million a year to Iliad's turnover from 2010, broadening the retail presence in its general building materials division.
Beneke also noted that, as reported on SENS recently, the group had indicated its intention to extend its current strategic black economic empowerment (BEE) shareholding arrangement with the Women's Private Equity Fund and Vunani subject to shareholder and regulatory approval.
The R110m expansion of Rustenburg's Waterfall Mall to 50,000m? is on schedule for the early phases to open by the end of the year.
The North West government has announced an initial investment of R200m into the Mafikeng industrial development zone aimed at boosting the province's economic growth.
More retail fun, fashion and furniture will soon be available in Rustenburg as Growthpoint Properties, which recently purchased Waterfall Mall Shopping Centre, proceeds with its plans for this dominant regional shopping centre.
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