Construction project of the US$79.24m regional Springs Mall, Ekurhuleni kicked off recently. Joint owners of the project Flanagan & Gerard, Giuricich brothers and Blue Crane Mall began the project which is expected to boost the area economy by US$0.11bn.
According to Flanagan & Gerard Executive Director and Founder Patrick Flanagan the Spring Mall located in Blue Crane Eco Park is set to be opened in 2016 and is expected to create a positive social and economic impact in the region.
Blue Crane Mall business person Franco D’Arrigo who is also a resident of Springs noted that completion of the mall in the region will enable local residents to find valuable employment opportunities adding that the first benefits that come with the mall will always go to the locals.
The Springs Mall will have two national supermarket chains and two large fashion retail shops.500 to 700 job opportunities will be available during the construction period of the two level shopping mall. 1200 to 1500 jobs will then come to birth after the opening of the mall.
Retail revenue of US$27.97m to US$46.61m is expected to be drawn from the mall something which has been highly spent elsewhere as the area remains under developed.
South Africa’s retail sector is the third most important contributor to the country’s GDP and Amanda Stops, chief executive officer, South African Council of Shopping Centres (SACSC) says South Africans expect to see construction of more shopping centres as retailers roll out new stores to unlock markets, despite a sluggish economy.
According to the South African Council of Shopping Centres (SACSC) new, large shopping centre developments will be focused in South Africa’s metropolitan areas with the highest population growth figures including Johannesburg, Cape Town, eThekwini and Tshwane impacting the needs for housing, job creation, schools and general infrastructure.