Alley Roads, a prominent developer of affordable housing, has lifted the lid on its first retail project, Riverstone Mall, located in Meyerton, North Vaal.
This R370 million development, financed by Rand Merchant Bank, is set to open its doors in early 2025.
Chief executive officer, Barry Chapman highlighted Meyerton's strategic location and its role in the R59 development corridor. “Riverstone Mall forms part of our 175 ,000 sqm development pipeline earmarked for underserved township and peri-urban areas across South Africa."
"There is also a second development phase planned at Riverstone Mall, comprising 3 000m2 of motor related retail. On completion, our total investment into the Meyerton community will exceed R600 million," he said.
Aligned with its community-focused approach, Alley Roads plans to complement the mall with a residential development of 337 units.
With its substantial investment, Alley Roads aims to bring convenience shopping, job opportunities, and economic growth to the Meyerton area.
Upon completion, Riverstone Mall will offer 53 retail spaces, anchored by Checkers Fresh-X, Woolworths Food, and Dischem, alongside other popular brands such as Clicks and Truworths.
The mall will also feature ample parking (1,000 bays), a food court, fast food drive-thrus, and sustainable energy solutions to ensure uninterrupted operation during loadshedding.
A 1908Kva rooftop solar plant will be installed with a battery backup of 4800Kwh, equivalent to four hours of 1200Kva.
The mall is set to create 1,200 jobs during the construction phase and an estimated 250 permanent jobs.
Comments