Ivan Pretorius
Alley Roads
Founder and CEO
Alley Roads’ Riverstone Mall set to open on 27 March 2025 as tenant fit-out finalises
Alley Roads Group has confirmed that the construction of its Riverstone Mall has been completed, with occupational handover to tenants being finalised before the mall’s opening at the end of the month.
Ivan Pretorius, founder and CEO of Alley Roads commented:
“We are very excited to have reached this important milestone. With tenant fit outs currently nearing completion, we are on track to officially open Riverstone Mall on Thursday, 27 March this year, bringing exciting brands and a different kind of shopper experience to Meyerton.”
Pretorius confirmed that during the construction phase, the mall created 1,200 jobs, with an estimated 250 permanent jobs, once trading commences.
On opening, the convenience mall, with a gross lettable area (GLA) of 20,000m², will boast approximately 53 retail tenants, anchored by Checkers Fresh-X, Woolworths Food, and Dischem. Other retailers include Clicks, Truworths, Mr Price, and the Pepkor Group. It will offer 1,000 parking bays, a food court, and two fast food drive-thru outlets.
Riverstone Mall forms part of Alley Roads’ 175,000m² development pipeline earmarked for underserved township and peri-urban areas across South Africa. Pretorius explained that Alley Roads’ business strategy is premised on building prosperous communities. Affordable housing and retail developments are essential drivers to establish these new nodes.
“Initial market studies show that Meyerton, centrally located between Johannesburg and the Vaal Triangle, is growing at 2% to 3% annually, and the area plays a catalytic role within the R59 development corridor.
“As part of our strategy to leverage the symbiotic relationship between housing and retail, we have launched a residential development adjacent to the mall, comprising 337 units. Riverstone Mall’s second development phase is planned, comprising 3,000m² of motor-related retail.
“On completion, our total investment into the Meyerton community will exceed R600 million,” Pretorius added.
The Group recently announced that in the past 12 months, it has developed over 1,000 fully off-grid apartments in seven developments, creating a stable power source for tenants at a predictable cost and ensuring stable annuity income for its funders.
Pretorius said the Group will roll out its 175,000m² retail development pipeline over the next seven years mainly in Gauteng with opportunities in the North West, Free State and the Western Cape. Alley Roads will develop rural convenience retail centres measuring between 6,000m² to 12,000m².
Media release supplied by Articulate Capital Partners on behalf of Alley Roads