The Accelerate Real Estate Fund published its annual results at the end of March 2019, providing an update on its mega-development Fourways.
The development first started in 2016 and was originally scheduled for completion in mid-2018, but has seen a number of delays as development plans have changed.
Accelerate said the revised opening date for the mall is now August 22, 2019, with the development set to become one of the largest of its kind in South Africa at 178,000 m² of gross leasable total (GLA).
That means the mall will be twice the original size with 450 stores and an average of up to two million visitors per month.
The size of the mall excludes flagship store Leroy Merlin, which will add an additional 18,000 m² when it is connected to the mall at a later date.
At the opening, the megalo mall will have more than 8,000 parking spaces and 52 entrances.
Accelerate, the owner of 50% of the venture, said the launch of the super-regional Fourways Mall is the first step in the fund's 15-year plan to launch the Fourways CBD – office, hospitality and other retail offerings. The mall will also include a "Fourways Gautrain" station on time.
Some of the most notable tenants include:
- Dion Wired
- Choose and pay
- Food Lovers Market
- Cotton On
- H & M
The group said that $ 400 million was invested in improvements in road infrastructure around the site, including a new dual carriageway at Cedar Road, and the widening of Witkoppen Road.
Accelerate said the improved mall will also offer several entertainment options. These include several specialized renters:
- KidZania (8,500 m²)
- Bounce flagship (4,500 m²)
- Entertainment Company (1,350 m²)
- Golf Adventure
"KidZania is an interactive city that combines inspiration, fun and learning through realistic interpretation," said Accelerate.
"Built in collaboration with industry partners, KidZania delivers realistic, immersive experiences and fabricated environments where kids discover, explore, and learn about real-life work."
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