Although the centre is scheduled to open on 23 October, the developers had to speed up the expansion and development of Phase Two due to popular demand. The Kouga Municipal area where Jeffery's Bay is situated is one of the fastest growing areas in South Africa. This dramatic growth is being driven by property development mainly residential estate developments and industrial developments within the area and surrounds.
The Fountain Mall, an independently owned project, developed by a consortium comprising of Atterbury Property, Retail Africa, Prosperito, Orange Property Group and Vuwa Investments, is also one such development situated adjacent to Jubilee Lakes Golf Course development.
According to Gerhardt Jooste, MD of Prosperito and co-developers Fountains Mall and Jubilee Lakes Golf Resort, “the invested interest in building a shopping mall next to the soon to be developed golf course in Jeffrey's Bay will increase the emerging development node to the north of the town, which has seen significant infrastructure development. Both the mall and the golf estate provide additional opportunity and choice for the astute investor and shopper, who previously looked at urban areas for locality. The town is now an ideal residential location for many people working in Port Elizabeth and has shifted from a holiday destination to one of the fastest growing nodes for business in South Africa.”
Fountains Mall, a R360 million Regional Mall of 32 000 m² is expanding further by an additional 10 000 m² due to increased demand. National Retailers already on board are Woolworths, Edgars, Mr Price, Truworths, Foschini, Ackermans, Pick n Pay, Game, Quicksilver, and Billabong. The phase two expansions will make way for additional national retailers to open outlets within the mall. First National Bank (FNB) will also open a new branch at Fountains Mall.
Phase two of the development will cost around R140m.
The Fountain Mall will open doors to the public on 23 October 2008.
The multi-million rand regional shopping centre is set to benefit the entire Jeffrey's Bay area from its increased job creation as well. Present estimates indicate that the mall will directly and indirectly create about 400 permanent jobs plus many part-time positions as well.
“We are very aware of the role new developments can play in uplifting the local economy. The centre offering is sure to be the hub of the local leisure scene and provide a place to socialise as well as to shop,” says Judy Boland, GM Fountains Mall.
