Oryx Properties says the Maerua Mall renovation and expansion project is now in its practical completion phase, with full completion expected by mid-November 2024.
The company said the Mall will be fully operational in time for the 2024 December trade season.
Oryx Properties has obtained a N$47 million ABSA development loan to finance the initial phase of Maerua Mall’s expansion.
According to Oryx Properties Chief Operating Officer PJ Bergh, by the end of September 2024, a lot of the current tenants in the clip-on should be able to fill out their respective stores.
He emphasised that all wet work and brickwork are expected to be finished by the end of September. Although there is a five-day delay, the goal is to achieve practical completion ahead of the December 2024 trading period.
“All the wet work and the brick work should be done by the end of September. We are running five days behind, but the whole idea for the practical completion opening would be before the December trade,” he said.
Furthermore, Bergh announced that they are currently ahead of budget. The project budget is approximately N$100 million. It covers 1,800 square metres, with an emphasis on two or three key restaurants located on the exterior and a connecting walkway.
He highlighted Oryx secured leases with Bossa Restaurant, Bathu Shoes, Old Khaki Shoes, OTB Sports, Total Tools and HiFi Corp, which is moving to a larger location.
“Signed leases are Bossa Restaurant, Bathu Shoes, Old Khaki Shoes, OTB Sports, Total Tools and HiFi Corp relocated at a larger space,” he noted.
