Orion Real Estate to develop R1 billion Bethlehem waterfront

- 09 Feb 2007 - Sandy Davey - Marketing Concepts

JSE-listed property fund Orion Real Estate Limited has been given the green light to develop a remarkable R1 billion waterfront development in Bethlehem.

JSE-listed property fund Orion Real Estate Limited has been given the green light to develop a remarkable R1 billion waterfront development in Bethlehem, in the Eastern Free State, in a joint venture with Black Economic Empowerment partner Isaac “Blacky” Seoe of Rob’s Investments and other developers.

Located on a 47ha site around Gobles Folly the ground-breaking new development comprises retail, dining, luxury high-density residential, hotel, resort and numerous interactive entertainment elements. It will be the largest property development ever in the area.  The approval of this development was achieved after months of extensive planning undertaken by Orion Real Estate. It also follows the recent lifting of a moratorium on certain planned developments by Dihlabeng Municipality, which incorporates the towns of Bethlehem, Clarens, Fouriesburg, Paul Roux and Rosendal.

“The first phase will comprise the construction of a 40,000m2 shopping centre for which anchor tenant Pick ‘n Pay has confirmed it will be taking space of some 6,000m2,” says Aldo Alberts, CEO of the development division of Orion.  Alberts adds that the retail centre will comprise a strong and exciting mix of national retailers with some unique independent operators.

The second phase of the development will include luxury residential accommodation, a retirement village, sectional title residences and a three- to four- star hotel.

Ideally located near the Frontier Inn Casino and the Bethlehem Airport, final design style is expected to be complementary to the surrounding area and will possibly include sandstone elements which reflect the distinctive local architecture.

“The Eastern Free State, and specifically Bethlehem, will benefit from increased job creation. We are committed to working with local contractors and labour in as many instances as possible. Numerous permanent jobs are also expected to be created on completion,” notes Alberts. 

“The construction of this shopping centre will, among other things, help to reduce the levels of unemployment and also retain valuable retail spend, which has been haemorrhaging from the area, within the local economy,” Alberts points out.

Alberts confirms that this development will offer the municipality, the investors and the community the opportunity to work together to improve the local economy. “The waterfront’s retail centre will also bring a new experience for the shoppers in the district where they will be able to enjoy a comprehensive shopping experience under one roof. It will enhance competitiveness and thus encourage sustainable growth that is inclusive,” says Alberts.

The consortium will also contribute to the upliftment of the community by donating computer workstations to two local schools.  In preparation for breaking ground, the relevant outstanding municipal approvals will be obtained together with an environmental impact assessment. This is expected to take approximately 12 to 15 months. Construction of the first phase shopping centre is then expected to take approximately 30 months to complete.