Executive Mayor of Polokwane Thabo Makunyane today officially laid the foundation stone for the R1.2 billion Mall of the North, the Limpopo province’s single largest commercial real estate investment.

 "The Mall of the North is an asset for the region and it stands as proof of what our construction and business community can achieve. It also represents the wider economy, of which Polokwane is part, with national retailers and investors showing their confidence in the mall, the city and the region,” says Makunyane.

 Set to open in early 2011, the 75,000m² regional shopping centre is already 90% let. It is owned and developed by JSE-listed company Resilient Property Income Fund, Flanagan & Gerard and Moolman Group.

 Mall of the North is being developed in a prime location in the easy-to-access, central node of Bendor, a rapidly developing component of Polokwane, in the heart of its growth corridor, ideally sited at the intersection of a national (N1) and provincial road.

 Limpopo is engaged in a major upgrade of its transport infrastructure which is geared to boost the province's general economic activity in addition to the infrastructure being developed for the 2010 Fifa World Cup, for which Polokwane is a host city.

The N1 highway, adjacent to where Mall of the North is situated, is Limpopo’s link to major centres of South Africa and connects Limpopo with neighbouring countries, key Southern African Development Community (SADC) states. The SA National Roads Agency (Sanral) is engaged in the upgrade and development of the N1 which is set to stimulate local economic development in the metropolitan area of Polokwane.

Patrick Flanagan of Flanagan and Gerard points out that Mall of the North will also play an important role in driving the local economy. He notes that: “The development and its desirable tenant mix are anticipated to attract cross-border shopping as well as serving both the regional and local consumer market.”

Makunyane believes that this is an asset of which the city can be proud “Importantly, this investment is for the people of Polokwane and it's heartening to see the quality and investment which demonstrates that Mall of the North offers the people the best," says Makunyane.

 Mall of the North’s anchor tenants include two supermarkets which are in excess of 5,000sqm, Pick n Pay and Checkers, joined by Edgars, Woolworths and Game.

 The tenant mix for Mall of the North, with its over 160 shops, features a substantial number of South Africa’s most popular national retailers in synergy with a bouquet of unique Limpopo owner-operated stores which together provide the variety and choice of a one-stop shopping experience which is attractive to everyone.

 The centre has already attracted a substantial number of new retailers to the region which will all serve to provide a superb retail variety, shopping convenience and a vibrant, welcoming community meeting place.

 “We are gratified to be part of this development which will contribute substantially to both the local economy and the community,” says Johann Kriek, executive director of Resilient.

 The Mall of the North’s construction is on track for its early 2011 opening. Already, of the 40,000m³ of concrete required, some 10,000m³ has been casted, creating two 20,000m² slabs. Brick laying has begun with some 300,000 bricks already in place.

"The Mall of the North is a significant development for Polokwane as it will stimulate the local economy, create jobs and retain the spending power of people in the region. No longer will people have to travel far to buy special items - the Mall will have everything under one roof,” notes Makunyane.

Currently some 500 people are working on the construction site every day of which around half are drawn from the local community. The number of workers is expected to grow and peak at about 1,000 people active on the construction site daily.

Jannie Moolman of Moolman group points out that the economic benefits that Mall of the North brings to Polokwane both in the construction phase and as an ongoing operation are extensive. “These range from job creation, skills transfer to local procurement and business growth,” notes Moolman. “It is thanks to the vision of the city of Polokwane and the support of its leaders that this iconic development is now becoming a reality.”