R50 million for Orange Farm Shopping Centre, trading as Towns Square Mall, in Gauteng
In the peri-urban area of Orange Farm, in Gauteng’s Johannesburg south, the NEF has approved R50 million to support 19% upfront community ownership of a regional shopping centre measuring 39 000m2.
The mall will be anchored by major brands such as Pick’ n Pay, Shoprite, JD Group, Edcon and Thusong Services housing Home Affairs, SARS and the Department of Labour . 46% of the shops will be let to black tenants in a mall whose commercial viability is based on 80% confirmed leases.
The investment will create 750 permanent jobs and around 2000 jobs during construction. Between 20 and 30% of project value will be spent in the Orange Farm area, and retail store opportunities will be made available to hawkers and taxi owners.