Industry & Real Estate

Monday, 13 April 2020 14:31

R240 million Thulamahashe Mall Development Launched in Mpumalanga by Property Magnate Herbert Theledi

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Thulumahashe Mall Mpumalanga

Nthwese Developments and Twin City Development  opened a R240-million Thulamahashe Mall in Mpumalanga.

This partnership between Nthwese Developments and Twin City Development is expected to create an economic upswing the rural community, says Nthwese Developments MD Mr Herbert Seabelo Theledi.

The development has a gross leasable area of 18,500m² and is well positioned in Thulamahashe, a village that feeds the north-eastern Bushbuckridge area in Mpumalanga.  Mr Theledi says the company was able to deliver the project in about 13 months. The mall will be anchored by South African retailers Shoprite and Superspar, with the former already ready to trade.  As part of boosting rural economy the mall comprises of 8% smaller local retailers, with the other 92% being national retailers.

“Our retailers are confident that the centre will have a high level of foot traffic and trading density, given the bullish nature of the area, which is severely underserviced in terms of retail facilities and bulk infrastructure. During the course of the development, the partners factored in bulk infrastructure, such as sewer, electricity and roads, and have upgraded some of this infrastructure for the benefit of the community”.

The development also contributes toward employment and business opportunities for local communities. This will build on successes achieved during the construction phase, with an estimated 600 jobs already created, 350 of which are permanent.

“We’ve embarked on a very inclusive process in this development, ensuring that there’s as much community participation as possible. Unemployment is a big issue in the area and such development brings relief in terms of job creation and sustainability,” Mr Theledi says.

Mr Theledi acknowledges the role of the government, its partner Twin City Development, various stakeholders and the community of Thulamahashe.

About Nthwese Developments

Nthwese Developments is a black-owned and black-managed property development and management company formed in 1993. The company has developed a formidable track record within the South African property investment and development industry with expertise spanning across a range of sectors which include retail, commercial and residential. Nthwese owns a property portfolio dominated by retail anchored by national retailers in non-metropolitan areas and government tenanted office buildings in Gauteng and Mpumalanga Province.Nthwese’s strong and sustained footprint within the property development and investment industry is underpinned by a strong balance sheet and strategic relationships.

Read more about Herbert Theledi or follow him on Twitter here.

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