Real Estate Start-Up Redefine Properties Is Set To Launch The Kwena Square Shopping Mall In Roodepoort
Real Estate Start-Up Redefine Properties Is Set To Launch The Kwena Square Shopping Mall In Roodepoort. South African real estate startup Redefined Properties has announced its plans of opening a new mall in Roodepoort. The construction on Redefine Properties’ Kwena Square on the West Rand is progressing well and is expected to be completed on schedule during May 2022. The JSE listed diversified real estate investment trust intends to open the shopping centre to the public during mid-2022.
Developed at a cost of R210 million, Kwena Square will house 23 stores anchored by national retailers like Checkers, Checkers Liquor, Clicks and boasts one of the country’s first drive-thru RocoMamas besides other restaurants and coffee shops. Parking bays to accommodate 407 cars at any time have been provided. According to Redefine Properties, already over 60% of the centre has been pre-let to tenants who represent a diverse line of local and national brands. An array of rooftop solar panels will generate as much as 25% of the electricity required by the centre, a key feature which will reduce the load on the main grid.
Leon Kok, COO of Redefine Properties said in a statement, “We are ready to put the efforts in towards meeting our commitment to convert all buildings in our portfolio to net zero carbon, water and waste by 2050. The process has begun with our newer projects and demonstrates our ongoing focus to reduce our carbon footprint. We have an overarching ambition to be a force for good.”
“Kwena Square entrenches the trend we first identified on the re-emergence of convenience centres, a shopping format most favoured during the pandemic for its ease of use and open ventilation enhancing safety. The completion of the project during a pandemic reflects our commitment and our tenants’ confidence in the project and the neighbourhood,” Kok added.
This is a development that is not only going to be beneficial to the owners but the community will also benefit as it is creating much needed job opportunities. Redefine Properties has been building developments that create a lot of impact in the society and through this they are changing lives and also growing as a company.
