R12billion new face for north

A viewing tower seen in this street view impression of Rainbow Mall is proposed as one of the iconic “Third Place” attractions to lure shoppers and tourists to the mall and Rainbow Junction precinct.

A R12 billion development is set to dramatically change the face of the northern part of the capital.

In its 10 to 15 years development phase, the project is expected to create some 45 000 jobs.

It has been described as the largest private sector commercial development of its kind in Tshwane.

The multi-billion rand Rainbow Junction mixed-use property megaproject, anchored by a new R2.5 billion 94,000sqm super-regional shopping centre, will be situated some 6km north of the Pretoria CBD.

The overall Rainbow Junction megaproject is located on a prized 140ha green field site and could become Tshwane’s beacon property development and a South African landmark too, said Rosella Dingle, joint CEO of the Rainbow Junction Development Company.

Rainbow Junction’s overall commercial uses will include some 165,000m2 for retail, 170,000m2 of prime offices, 120,000m2 for residential projects, 65,000m2 for hotel and conferencing facilities, with the balance catering for general commercial uses and light industry.

It will also have space for educational facilities as well as 37ha of green open public spaces for social and recreational facilities.

“With all municipal, environmental and other approvals in place for the anchor Rainbow Mall development, the project is now gaining serious momentum and we are seeing excellent interest from prospective investors and major property developers who either want to secure a stake in the project or the whole development,” she said.”

“Rainbow Junction is an all-new nodal development and is set to include some 670,000m2 of commercial development – making it one of the largest integrated mixed-use developments in the country.”

Commenting on the Rainbow Mall component of the megaproject, Gavin Tagg, CEO of Retail Network Services (RNS) said the mall was set to become a cutting-edge new retail and leisure destination in the capital, with construction scheduled to begin early next year.

Road construction surrounding the mall had already commenced in July 2015.

“The mall will have more than 250 retail stores, restaurants, a state-of-the-art cinema complex and ice rink, as well as “Third Place” attractions.”

“We are speaking to major national and international retailers and other brands to take up space at this new destination. Rainbow Mall will have a comprehensive mix including several anchor tenants as part of its retail, entertainment and service offering,” Tagg said.

“The mall will dominate the node as well as offer an experience like no other. We are receiving great interest and feedback from retailers, but are considering our options carefully to bring together the best tenant mix. Although the shopping centre is part of a green field development, its great location surrounded by an established market of some two million people and proximity to the CBD means it will attract strong local support as well as visitors from outside the area.”

Rainbow Mall is estimated to cost about R2.5 billion, however, the broader Rainbow Junction mixed-use precinct development is anticipated to be a megaproject of between R10 billion to R12 billion over its 10-15 year development phase.

The development is situated on a strategic site in the centre of Tshwane geographic boundaries and has been identified by the city as catalytic to its “Zone of Choice” new key growth node.

It boasts great visibility and excellent access to key arterial roads and major national highways, as well as strong rail and air connectivity via the Wonderboom Station adjacent to the site and Wonderboom National Airport just 3km away.

Another significant advantage is that Tshwane is planning to build the biggest transit hub of its multi-billion rand A Re Yeng integrated rapid transit system at Rainbow Junction.

Rainbow Junction has a direct link to the M1 Paul Kruger St Ext, which is the main northern arterial route serving the city.

The development also connects to Sefako Makgatho (Zambezi) Drive, which links to the N1 highway, and, will have a direct connection to the N4 Platinum Highway on completion of the K97 link road.

The property is bordered by the Apies River, which gives it 4km of river frontage and another unique development characteristic.

“The overall Rainbow Junction development is strategic legacy project has been identified and prioritised by Tshwane as a key project to unlock growth and development in the capital.

“This is not only a major economic development but is anticipated to create around 45,500 jobs over its development phase,” Dingle said.

“We are considering so-called ‘Third Place’ elements, such an iconic high-rise viewing tower within the development, which will set it apart from other major malls and serve as beacon attraction to both locals and visitors.”

Tshwane MEC for economic development Subesh Pillay said the metro was confident that the Rainbow Junction megaproject would contribute to the capital city’s objective of building a resilient, liveable and inclusive city through infill development between the outlying northern belt and the city centre, linked to the city’s A Re Yeng rapid transit system.

Do you have more information about the story? Please send us an email to [email protected] or phone us on 072 435 7717.

For free breaking and community news, visit Rekord’s websites:

Rekord East

Rekord North

Rekord Centurion

Rekord Moot

For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram.

  • We have exciting news! We’re offering a free alert to help you always be in the loop. Send an email with the word ‘Subscribe’ to [email protected] to receive your free daily breaking news update.
  AUTHOR
Stephané Bothma
Journalist

Latest News

COMMENTS

Top
Next Story x
UPDATE: Probe after three metro officers robbed of their guns

Thanx for your referral. We have no doubt your friends will love our newsletter as much as you!

Don't forget to verify your email.

to our FREE newsletter
SUBSCRIBE to our FREE newsletter.




SELECT your titles:

Centurion Rekord
Rekord East
Rekord Moot
Rekord North


Your details:


Your friends: