PALAPYE: Construction has begun on a new P78 million mall in Palapye, the latest in a clutch of retail complexes sprouting in the village to tap into its resurgent economic activity.
Platinum Icon Mall is due to open in November and will compete with the three other brand new malls here, all located along the A1 highway. Platinum Icon is situated between Lotsane Bridge and Palapye Trust Mall.
Caitec Construction Company, which is building the 15,000-square metre complex, also handled the construction of Palapye Junction Mall. Platinum Icon is being built on six hectares of land and will feature an initial 24 units, that developers say can be increased in line with interest from the clients.
A filling station at the Mall is already 90% done, with the tenant identified as Engen. The filling station is due to be completed and operational before the end of next month.
The complex’ director, Solomon Tiro, revealed that Platinum Icon had secured 70% tenancy before it broke ground.
“We are aware of the competition and therefore we adopted a different model where we build as per tenant request,” he told BusinessWeek. “We want to avoid constructing a mall that might struggle for clients and end up turning into a white elephant. “We started late after our competitors and we decided that we would not lay a brick until we had secured a client for that space.
“We have done our work and secured the main tenants and we
Tiro said functionality was thus a major focus of the design. “The design is aerated and we have an ample parking space. In fact we have dedicated two hectares at the front of the mall for parking lot.
“The functionality of the mall was important for us. We are strategically positioned and we wanted to ensure we take full advantage of the travelling customers on the A1,” he said. He added: “We have done our homework and we know that eateries are the most critical outlets for people on the move. As thus we have ensured that the restaurants are located conveniently at the front of the mall.”
Tiro revealed that the anchor tenant is Choppies Hyper which will occupy 3,500 square metres, while other major brands at the Mall include Fours, Knockout, Maxis, JB Sport, and Rodizio.
He said they have also received letters of interest from Woolworths Food and Clothing as well as Capello.