400 000 m2 rights allowed by Municipality for development
http://www.youtube.com/watch?v=JfnFnY6Snak is the link to follow to view the extensive development planned in central Fourways.
Business Day 18 September 2014 reports that Accelerate Property Fund raises R150m causing the share to fall 4.2% yesterday after 4.1% of its shares in issue were placed with institutional investors at R5.50 each, by CEO Michael Georgious's family trust. The bulk of the R150m proceeds will be used to develop the additional retail space at Fourways Mall shopping Centre, which will offer 175 000m2 retail space under one roof.
The youtube presentation boasts that Fourways will become the new leading business, retail and hotel node in the Southern Hemisphere, offering world class retail facilities.
The development will include a 60 storey high rise building and a parkade offering 3 500 new parking bays.
60% of the new space has already been taken up by national major tenants and 15% by additional international tenants.
We won't recognise our suburb!