The Paledi Mall, in the Limpopo town of Mankweng, has opened its doors to shoppers after undergoing a R282-million refurbishment.
The community shopping centre, which was partly financed by a R125-million loan provided by Nedbank Corporate Property Finance to developers Twin City Development Group, was extended from 13 089 m² to 24 081 m², growing from 50 shops to over 95 and anchored by Spar, Shoprite and Woolworths stores.
It also offered a Sasol filling station located at the entrance from the R71, a Supa Quick Fitment Centre, a free-standing KFC drive-through and 897 parking bays.
Located 29 km east of Polokwane on the R71 Tzaneen road, Mankweng is a rural town with a population comprising largely lower-income groups.
The centre is located at the turnoff to the University of Limpopo, for which various student accommodation would be developed in the next five years and which was expected to have a “major” impact on the demand for retail facilities in the vicinity.
Nedbank Corporate Property Finance regional head D’Anvo Jones said Twin City Development had pioneered retail in previously disadvantaged areas and had achieved good success.
“The company is well-respected in the industry for [its] ability to deliver projects of this caliber and we are pleased to have been able to provide agile financing solutions for this development.
“We believe the refurbished and extended Paledi Mall will create a relevant and appealing retail option for Mankweng residents, as well as those studying at the University of Limpopo, and that it will be yet another successful development for Twin City Development,” he said.
Twin City Development owned retail developments such as Blue Haze Mall, in Hazyview; Twin City Malls, in Burgersfort; and Bushbuckridge and Elim Mall, in Limpopo.
“We are very excited about the redevelopment of Paledi Mall and are confident that the centre will become the ultimate shopping destination in the region owing to its position and accessibility, along with the strong tenant mix and modern design,” commented Twin City Development MD Johan Visagie.