Nedbank, Masangita Open New Mall in Diepsloot

Posted On Friday, 30 November 2007 02:00 Published by
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Diepsloot Mall, the new shopping mall in Diepsloot near Fourways, has commenced trading

The 11 304m² mall is the first of its kind in the town. There are approximately 50 stores in the mall, of which 65% are national tenants.  These include Shoprite, PEP Stores, KFC, Roman’s Pizza, Nedbank, FNB, ABSA and African Bank.

The R130 million centre is owned by Masingita Property Investment Holdings (Pty) Ltd (MPIH), a joint venture company between Khulemani Masingita Properties and Nedbank Corporate.

Diepsloot is a settlement situated on the R511 between Fourways and the R28 Krugersdorp Highway.  The shopping centre has its own taxi rank, accommodating 22 taxis, as well as parking for 437 cars.

Brian Roberts, divisional director for the Gauteng division of Nedbank Corporate Property Finance, said that their involvement in the Mall further 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 the upliftment of PDI areas.  The growth and spending power of Diepsloot has been such that a top class retail centre had become an urgent requirement for the community.  It was with their assistance that MPIH became involved in this project.  The mall will go a long way to accommodating the needs of the community.”

MPIH has completed two further projects in previously disadvantaged areas, namely Jabulani Mall, jointly owned by Resilient Property Fund and MPIH, and Masingita Mall in Giyani.

Last modified on Monday, 12 October 2015 17:20

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