The first phase of the R1.5-billion Forest Hill City shopping mall, in Monavoni, Centurion, was launched last month by property developers Billion Group, with the entire development set for a grand opening next month.
Billion Group founder and CEO Sisa Nge-bulana says the development, which runs along the N14 and R55 highways, is the first of its kind for the region which previously lacked retail facilities, resulting in a longer commute for local residents.
The development comprises 75 000 m2 of residential restaurant and retail space and features 190 stores.
Billion Group hopes to add another 30 000 m2 to its development in the next 18 months.
“The completed vision of Forest Hill City is a mixed-use development that combines retail and lifestyle with A-grade office space, two hotels and high-end residential apartment blocks – all set in a safe, urban hub environment,” he says.
The development is a catalyst for a city precinct, according to Ngebulana. He explains that Billion conducted research and discovered that it was arguably one of the fastest-growing areas in the country.
Billion Group has spent more than R100-million on road infrastructure and employed about 6 000 people at the peak of Forest Hill City’s construction and about 2 500 people permanently.
Ngebulana expects more than a million shoppers at the mall each month.
City of Tshwane mayor Kgosientso Ramo-kgopa welcomed the investment. He tells Engineering News that the economic activity generated in the area will generate jobs and catalyse further development in the south-west of Pretoria.
“We are able to generate multiple employment opportunities for people who were previously unemployed. “It is significant in that local residents are able to increase their consumption at household level. This development is also significant because it adjoins a low-income development, Olievenhoutbosch, which will serve as a catchment area for the people that are employed in the development,” he says.
Economic growth has gained geographic traction in the area and Ramokgopa adds that a development of this kind is needed to catalyse development along the R55 and N14 corridor.
He believes the development is also a sign of the level of confidence the private sector has in local government, adding that the City of Tshwane was able to create an environment that enables easy investment for developers.