The funding has been granted to the developers of the node, The Georgiou Group, for the development of a number of properties including Fourways Mall, Cedar Square, Fourways View, The Buzz Shopping Centre and Fourways Lifestyle Centre.

In addition, The Georgiou Group and the local council intend to mitigate vehicle congestion and alleviate customer frustrations in one of the fastest growing residential areas in South Africa by jointly undertaking substantial road and service upgrades.

Alan Pullinger of Rand Merchant Bank says, “Fourways is one of the fastest growing and wealthiest areas in South Africa and it offers sound financing opportunities to the banks. It is our mutual client’s intention to develop the Fourways Precinct into a large retail node offering a unique shopping experience with a difference.”

Ken Reynolds, Divisional Director for the Gauteng division of Nedbank Corporate Property Finance says, “The developers of the precinct are spending a substantial amount of money on upgrading the infrastructure and particularly, the roads in the area.  This will help to alleviate traffic congestion in the Fourways node."

The re-development of the existing Fourways Mall includes a proposed 25 000m² expansion, which will enlarge the mall to over 90 000m².  The enlarged mall will comprise a multi-layered basement parking; additional retail stores with a strong focus on specialty stores and boutiques; and more entertainment to enhance the mall’s offering.

A new development, comprising Cedar Square and Cedar motor showrooms, is situated along Cedar Road adjacent to Fourways Mall, and is scheduled for completion in June 2006. The Cedar Square shopping centre of 32 000m² will be anchored by Pick ‘n Pay, Woolworths and a Mica hardware store.  A new Delta dealership is also under construction, with plans for additional motor showrooms and dealerships of some 25 000m².

Fourways View, a new retail development, is on the western boundary of Fourways Mall.  It includes the development of 15 000m² to be tenanted by major banks, line shops, restaurants and coffee shops.  It is planned that this development will eventually link into Fourways Mall.

The Buzz, a new development, is situated about 1.5 kilometres to the west of Fourways Mall on the north-east corner of Witkoppen Road and Nerine Road. The centre is anchored by Pick ‘n Pay and the Planet Fitness gym.  Additional land on an adjacent property to this centre is earmarked for new showrooms and offices.

A further new development, Fourways Lifestyle, will be situated to the north of Fourways Mall and will be developed into a value shopping centre comprising 42 000m² of retail space. This development is in the planning stages, with the tenant profile still to be confirmed.

In addition to the above mentioned retail developments, the existing office block occupied by Exactmobile, an additional motor dealership, a Sasol service station and Prism Office Park will be integrated into the proposed new extension to the Fourways Mall. The new developments will be tenant driven and will be phased over a period of some two years.