Qumbu Shopping Centre (R39 million)

Project summary

The project is a 100% black-owned start-up retail property development. The shopping centre measures 4 800 m2 in building size and the gross available space for letting is 4 737 m2. The centre will consist of 15 shops and 72 parking bays. Among the key anchors are: Rhino Cash and Carry, Price & Pride, Pep Stores, Barnnett’s, Lewis, Capitec Bank and Dunns. The entrepreneurs are Mr HM Mduzulwane, Dr D Tyamzashe and Dr TDM Malinga. The NEF is warehousing 19%, with Qumbu Trust holding 37% and Aduma Trading (Pty) Ltd holding 44%. This investment will expand businesses and create sustainable revenues for the municipality.