{"id":796348,"date":"2024-10-21T15:00:00","date_gmt":"2024-10-21T13:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=796348"},"modified":"2024-10-21T14:39:55","modified_gmt":"2024-10-21T12:39:55","slug":"new-r370-million-mall-coming-to-south-africa-in-early-2025","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/796348\/new-r370-million-mall-coming-to-south-africa-in-early-2025\/","title":{"rendered":"New R370 million mall coming to South Africa in early 2025"},"content":{"rendered":"\n

Riverstone Mall in Meyerton, south of Johannesburg in Midvaal, is nearing completion and will open in March 2025.<\/p>\n\n\n\n

Developer Alley Roads said that Riverstone Mall’s R370 million, 20,000 sqm first-phase development is nearly finished. <\/p>\n\n\n\n

It added that it will be the first formal retail offering in Meyerton.<\/p>\n\n\n\n

Alley Roads is also working with Blue Energy Africa to install a hybrid energy system for the mall. <\/p>\n\n\n\n

\u201cUp to now, commercial property owners installed either solar panels or a hybrid of solar and battery back-up to take their malls partially off-grid,” said Ivan Pretorius, founder and CEO of Alley Roads. <\/p>\n\n\n\n

\u201cBeing a community shopping centre, Riverstone Mall is the ideal size to operate mostly independently from the national power grid.” <\/p>\n\n\n\n

“This not only ensures an uninterrupted shopping experience but, importantly, shields our tenants from ongoing rate increases by the national utility provider.\u201d<\/p>\n\n\n\n

The latest Operating Cost Report by the South African Property Owners Association (SAPOA) showed that property taxes and electricity costs account for more than 50% of commercial property owners’ total operating costs.<\/p>\n\n\n\n

Blue Energy Africa will install a 5.0MWh battery, one of the biggest batteries of its kind in the country.<\/p>\n\n\n\n

The battery will be fed by a 2.3MWp photovoltaic (PV) panel system, ensuring that the mall can operate during inclement weather and evenings.<\/p>\n\n\n\n

\u201cWe are excited to launch our partnership with Alley Roads Group through the Riverstone Mall hybrid energy project, marking a significant milestone in their clean energy journey,” said Jan van Ravenswaay, chief technology officer of Blue Energy Africa. <\/p>\n\n\n\n

“This project will not only provide sustainable energy at affordable rates but also ensure energy security when needed. By integrating best-in-class technology, the solution is designed to reduce carbon emissions, aligning with our commitment to environmental stewardship.”<\/p>\n\n\n\n

“It will set new standards in technical integration and optimisation, reinforcing our shared goal of advancing sustainability and environmental responsibility.\u201d<\/p>\n\n\n\n

The off-grid solar and battery installation are also set to save over 4,000 tonnes of carbon dioxide emissions per annum, which equates to savings of more than 80,000 tonnes over 20 years, compared to conventional power derived from the grid.<\/p>\n\n\n\n

Images of the mall can be found below: <\/p>\n\n\n

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Alley Roads, one of South Africa’s largest affordable housing developers, recently announced that in the past 12 months, it has developed over 1,000 entirely off-grid apartments in seven developments. <\/p>\n\n\n\n

Another exciting development from Alley Roads is the R10 billion Palm View Estate. <\/p>\n\n\n\n

The affordable housing development is in Shakaskraal on the KwaZulu-Natal north coast, approximately 7km north of Ballito.<\/p>\n\n\n\n

Palm View Estate will measure 450 hectares and offer over 6,000 affordable housing opportunities.<\/p>\n\n\n\n

Palm View Eco Estate apartments will soon be available for sale, while other houses\/developments in the Eco Estate are also available for purchase.<\/p>\n\n\n\n

\u201cPalm View Estate is unique in that it provides homebuyers with a complete lifestyle offering at an affordable price point that doesn\u2019t compromise on the benefits of secure estate living,\u201d Pretorius said previously. <\/p>\n\n\n\n

\u201cWalking and mountain bike trails will maximise the area\u2019s pristine nature sustained by the river that runs through the estate, and residents will also enjoy the benefits of a lifestyle centre offering doctors\u2019 consulting rooms and other amenities, including state-of-the-art security.<\/p>\n\n\n\n

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New R10 billion estate in the works for South Africa<\/a><\/blockquote>