Nedbank, Masangita Open New Mall in Giyani, Limpopo

Posted On Friday, 23 February 2007 02:00 Published by
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Masingita Mall, the new mall in the Limpopo Province town of Giyani, commenced trading today.

The 10 190m² mall is the first covered mall in the town.  There are 36 stores in the mall, of which at least 50% are national tenants.  These include Ackermans, Truworths, Identity, Mr Price, Sheet Street, Pep Stores, Dunns, Bata, Legit, Cash Crusaders, Pie City and John Craig.  The centre is anchored by a Boxer Super Store.

The R50 million centre is 100% owned by Masingita Property Investment Holdings (Pty) Ltd (MPIH), of which Nedbank owns 35% and Khulemani Masingita Properties (Pty) Ltd the remaining 65%.

Giyani is located in the Limpopo Province, between Phalaborwa and Polokwane.  It adjoins the Kruger National Park and serves as a transport and commercial hub to some 40 villages in the Greater Giyani Area.

Ken Reynolds, Divisional Director for the Gauteng division of Nedbank Corporate Property Finance said that their involvement in the Mall indicates Nedbank Corporate Property Finance’s commitment to the development of previously disadvantaged areas.  “The vision behind our involvement with Masingita is to focus on retail development in and upliftment of PDI and outlying areas.  Giyani shows significant potential as our research has indicated a strong demand for retail space.  We have selected a centrally located site adjacent to the main bus and taxi rank so that the mall is conveniently located to service a vast area.  These taxis and buses travel daily to Polokwane, Tzaneen, Malamulele and Phalaborwa.”

Masangita is a black empowerment partner of Nedbank Property Partners and is headed up by Mike Nkuna. The joint venture company known as Masingita Property Investment Holdings (Pty) Ltd has successfully traded a property in Witbank, is a partner in the Bara Mall development, owns 45% of Jabulani Mall in Soweto and is developing the first shopping centre in Diepsloot.

To celebrate the opening of Giyani Mall, a two day celebration is taking place, with a stage programme consisting of performing artists, competitions and store promotions.  There are also drum majorette and talent search competitions for community members to take part in.

Last modified on Monday, 12 October 2015 18:05

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