Socially innovative retail real estate development in South Africa to open soon, Propertywheel.co.za – Property Wheel
Eyethu Orange Farm Mall is set to open on 28 October 2014 and is raising the bar in socially innovative retail real estate development in South Africa – it is 10% owned by its community.
Now it has deepened its commitment to the Orange Farm community even further, and will sponsor space for two key community services: a day care centre for Afrika Tikkun and a home for local radio station Theta FM.
Orange Farm’s very own 27,000sqm regional mall is different from any other shopping centre in South Africa thanks to its unmatched community focus.
Eyethu Orange Farm Mall is owned by the Orange Farm community which holds a 10% stake, facilitated by the National Empowerment Fund’s Rural & Community Development Fund unit. Its co-owners, each with a 30% stake, include the mall’s developers Stretford Land Developments and Flanagan & Gerard Investments, as well as JSE listed property company Dipula Income Fund.
Theta FM is a community radio station that has grown its listenership to over 300,000. Presently located in a school, the station will move to its modern new facility of around 100sqm at the mall. From its new home, it will broadcast live from Eyethu Orange Farm Mall, with a live feed inside the mall too. Theta FM will officially start its live broadcasts from Eyethu Orange Farm Mall a week before opening day, ensuring the community is first to know the latest from the mall.