As
the new entity on the block, we endeavour to develop work ethics,
which will embrace the principles of empowerment and endear support
– especially to the Khayelitsha residents who seek support
in various aspects of economic and social development. As the
workforce develops with the progress of the entity in its stages
of development, we will develop an organisational culture, which
will promote a sense of cohesion, and in so doing, encourage efficiency
in achieving the set goals of the Trust in terms of our 5-year
plan.
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The Khayelitsha retail centre

Click here to download the
Ground Plan
The Khayelitsha Centre is the first commercial development project,
which the KCT completed in the Khayelitsha Central Business District
(KBD).
Spanning a total area of 17 225m², the R86.5 million retail centre
was officially opened by previous Mayor of Cape Town, Nomaindia
Mfeketo, on 24 November 2005 with 51 retailers. Due to a high
demand for trading space, however, the construction of an additional
2 000m² of retail space began immediately after the opening and
was completed in June 2006 – bringing the total cost of
the development to R110 million.
The Khayelitsha Mall boasts a wide variety of tenants and shops
from where customers can purchase clothes, food and furniture,
do their banking, and enjoy a meal at a restaurant – all
at one convenient location! The lack of sufficient parking has
become a frustration for shoppers, however, and plans are underway
to increase parking facilities.
Owned by the Khayelitsha Community Trust
(KCT), the retail centre was built with loan finance from
Rand Merchant Bank, which must be repaid over a period of 18 years.
KBD Manco built and operates the KBD Retail and leases it from
the Trust, who sourced finance from RMB in August 2004 and RMB
appointed FutureGrowth Asset Management as the mall’s official
developer and Facilities Managers of the Mall. FutureGrowth also
handles the centre’s training and management related responsibilities.
WBHO was the main building contractor in this turnkey development.
One of the funding conditions of this project was that at least
70% of the centre’s total occupancy must be by South African
National tenants. Most of the trading space earmarked for national
tenants has already been secured by Spar, Shoprite, and all four
national banks (Nedbank, FNB, ABSA, and Standard Bank). The Khayelitsha
Mall is currently running on an occupation level of 97%. Furthermore,
Khayelitsha locals have shown great interest in terms of acquiring
space in the centre, and specific marketing processes have been
put in place to meet this demand.
The Khayelitsha Community Trust has been instrumental in terms
of facilitating the direct involvement of local contractors and
labourers. As many as 16 local construction companies worked alongside
WBHO, the main contractor, in the construction process.
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Khayelitsha housing
The Khayelitsha housing development project comprises 1200 houses
as phase one of the project – as well as the necessary infrastructure
such as roads, electricity and water – which will be built
over a number of years.
The Project includes the construction of a show village in the
heart of Khayelitsha’s Central Business District (CBD),
which will give prospective buyers the unique opportunity to select
their future homes on a proportional model of the entire development.
Furthermore, homebuyers will be able to walk around the rooms,
look at the different finishes and select the layout of their
choice.
There is, however, another unique feature of this housing development
project. The bank, which will lend prospective buyers the required
funds to purchase their houses, will not necessarily require the
buyers to secure the loan by way of a mortgage bond. When a prospective
buyer applies for finance, his or her income will be assessed,
and a loan will be granted based on the individual’s income
as opposed to his or her asset portfolio. This means that many
people who were previously unable to qualify for a loan from a
bank, will now be able to purchase a house in this housing development.
Please contact us for more information
about the Khayelitsha housing development project.
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Service
station
A specific site for the development of a service and filling
station in the Khayelitsha Business District (KBD) has been earmarked
adjacent to the taxi and bus terminus site in the JB.
The Khayelitsha Community Trust has entered into preliminary
discussions with petroleum companies in order to gauge the viability
of and interest for this development. In addition, a subdivision
application has been submitted for this property, and further
attention will be given to the project after the necessary approvals
have been granted.
Relevant stakeholders have interviewed a number of local entrepreneurs
for the management of such a facility. This initiative will form
part of attracting business for the current tenants.
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