Liberty Promenade Shopping Centre officially launches after refurbishment
The Liberty Promenade Shopping Centre in Mitchell's Plain, Cape Town has been formally launched by Liberty Properties, following a refurbishment investment of over R500 million, adding 24000m2, an increase of close to 30% in the complex's retail real estate.
Commenting on the refurbishment and extension, Samuel Ogbu, CEO of Liberty Properties, said, "The revival and expansion of the centre is something we are proud of. The centre is now recognised as the second largest shopping centre in the Western Cape, aligning to the group's broader strategy, to maintain its leadership position within the African property sector."
"It is not just a shopping destination. Our investment brings with it entertainment for the local community, a destination that the area can be proud of and a gathering place for the community. The new stores in the development have brought more jobs and other employment opportunities were created throughout the construction project, with approximately 67% of the construction project's general workforce being from the broader Mitchell's Plain and Khayelitsha areas. Local businesses and schools have also benefited from donations of reusable items salvaged from the construction. We calculate that about R45 million has been directly invested into the local community.
"Investment in infrastructure, facilities and services is key to improving the quality of life and an essential part of uplifting areas such as Mitchell's Plain that previously did not attract its fair share of investment capital.
"We have conducted extensive research into the market and our experience has shown that if you present an offering of sustained quality, the people will support you. We have been very happy with the performance of this investment and that gave us confidence that we could invest further. We take a very careful approach to these things because we represent hundreds of thousands of ordinary South African savers and pensioners.
"Mitchells Plain is one of the fastest growing and developing areas in the Western Cape. The community has proven repeatedly that they are discerning shoppers who seek quality shopping and entertainment destinations in the community in which they live. The extension and refurbishment has entrenched the centre's status as the preferred shopping destination of the Mitchells Plain and Khayelitsha communities. We are proud of the outcome and we hope the community will embrace it," he concludes.
