Billion Group launches latest retail development Forest Hill City

Posted On Thursday, 07 February 2013 19:26 Published by eProp@News
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Billion Group, a leading property development company today launched its latest development - Forest Hill City

This new and exciting regional centre will ultimately combine office, retail and residential space in an exceptional location on a major interchange. The precinct is anchored by Forest Hill Mall. With a gross lettable area (GLA) of 72 000 m2 it's the area's largest mall, offering the best of South African and international fashion, food and entertainment brands.

"Forest Hill epitomises urban living – where people eat, live and play in a safe and convenient environment. The mall has excellent access and egress and is located on an offramp in South Africa's fastest growing residential node." said Sisa Ngebulana, Billion Group's Executive Chairman and founder.

The R1,6 billion mall is located on a major interchange, spanning 1km along the N14 highway and 300 metres along the R55 in Monavoni, Centurion, south west of Pretoria. This intersection connects Midrand, Centurion, Sandton, Johannesburg, Krugersdorp and Pretoria. Its exceptional location will service the current 112 500 households in the primary catchment area, which is set to grow to almost 160 000 households by 2014. The current area retail undersupply is 250 000 m2. The mall is a first phase of a larger retail development which will expand to a planned 110 000 m2 of retail.

"We have received over 80% commitments from leading international and South African brands, including Checkers Hyper, House and Home, Woolworths, Truworths, Edgars, Ster Kinekor, Foschini Group, Pick and Pay, Pepkor and Mr Price Group brands. Banks, food and entertainment franchises are also well represented and the mall will boast and ice rink." Ngebulana continued.

"Forest Hill Mall's architectural design matches our development philosophy of enhancing the overall lifestyle experience of the prospective end-user. At the same time we were cognisant of our responsibility to the community and environment within which the mall is located." Ngebulana continued.

Forest Hill Mall introduces the latest in international trends optimising shopper convenience and dwell time. The 4 split-level parking consisting of 2 400 bays at 600 bays per level is a novel and is located at the centre of the mall, providing covered, quick and easy access from any point of arrival. The mall's walkways and all shops will be on a circular race track, allowing exposure to all tenants without changing levels. Additional external parking will provide access to Woolworths, Clicks and the food and entertainment node, bringing the total number of bays to 4 320.

The Group's current development pipeline is robust with a total value of R7 164 billion and a total GLA of 370 000 m2.

Opening of the mall is set for April 2014.

 

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