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Growthpoint's appeal to the townships board is a last-ditch attempt to halt the
Matlosana Mall after fellow Klerksdorp development‚ Flamwood Walk - through owners Diggers Development - had its appeal over the development to the Supreme Court of Appeal (SCA) dismissed with costs in November last 2011.
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The property group‚ which owns the town's 20‚000m² City Mall in the central business district‚ has objected to the North West
Townships Board over the municipality allowing a new development on the outskirts of town - the R1bn Matlosana Mall being built by Stellenbosch-based Abacus Asset Management.
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The mall is conveniently placed at the eastern entrance to the city, and will cater for neighbouring nodes as well. With easy access from surrounding towns, it is strategically positioned as the catalyst of the N12 development corridor. This growth node stretches between
Klerksdorp and Stilfontein
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Organised by the
Matlosana Development Forum‚ marchers demanded the group explain why it was opposed to the new mall‚ even though it was unlikely to poach City Mall's central business district customers.
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The largest property investment holding company listed on the JSE‚ Growthpoint
Properties‚ has invoked the ire of Klerksdorp townsfolk over its aversion to a lucrative new development in the town.
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Plans for the 60‚000m² mall - situated at the eastern entrance to the town along the N12 - have been met with fierce hostility by opposing developers ever since first being mooted in 2007.
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Managing director of Abacus‚ said the development would create 2‚000 temporary jobs during the 19 months of construction‚ and thereafter 1‚500 permanent jobs.
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But the high-level fighting has impeded much-needed economic growth and stifled job creation‚ say townsfolk who earlier this month marched on
Growthpoint.
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and are earmarked as a vital economic growth area in the region.
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The mall also hosts over 14 fast food and restaurant options lik
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The mall's mix of 145 stores is led by anchor retailers
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