R1.3bn Development in PE will Create 8,500 New Jobs
Emfuleni has partnered with Parktown Capital to construct The Boardwalk Mall which has been designed to include a retail mall, a multi-purpose events venue, entertainment and corporate offices.
Emfuleni has agreed to offer its land in return for an equity stake, while Parktown Capital is leading the development, with Sun International ensuring the 13.3 hectare site within The Boardwalk precinct has been designed to meet the needs of PE’s local residents and guests.
The project will offer a range of retail options, activities and attractions and is an essential development with regards to economic growth, job creation and increasing returns to the province.
Thousands of new jobs to be created
The project is said to have been ‘designed to deliver on the Eastern Cape Provincial Government’s objectives in terms of job creation and black economic empowerment.’ It’s estimated that around 8,500 new jobs will be created over the two-year construction period and around 1,500 job creations during the operations.
The new development is planned to include:
- A 35,000m² mall, offering restaurants, high-end convenience, and niche retail with eateries and entertainment. It will be arranged around a revised water feature and the new Sun Park, which will be used to support and host special events and entertainment;
- A 2,570m² multi-purpose events venue;
- A 2,000m² magic company including a laser tag facility and bowling alley;
- 1,832m² of movie theatres;
- 4,000m² of corporate offices; and
- 3,000 parking bays.
The Boardwalk Mall has been designed to fit within the urban fabric of The Boardwalk as a whole in terms of both its visual impact as well as the anticipated impact from the expected influx of visitors.
This innovative consortium will also provide an effective entertainment icon for the city with its vibrant new Sun Park which will occupy an area of about half a rugby field, and will also include the revised water fountain.
It is designed to be a community-centred entertainment zone to stage and host a wide range of activities from sports events to staged concerts, open-air cinema, wine tastings and corporate launches/tourism exhibitions. The venue will also form part of Sun International’s national concert/show circuit.
The range of restaurants and bars, including fine dining, at The Boardwalk Mall will offer a vibrant mix to suit all tastes and all ages, while the retail stores at The Boardwalk will stock both local and imported goods. These stores will also be conveniently located close to all major public entrances.
Quick service food and beverage offerings will also be located close to the proposed Sun Park with easy access to the dedicated children’s play area, the creche, and the magic company.
Bongi Siwisa, chairman of Emfuleni Resorts, said: “The Boardwalk Consortium believes this development fulfils all the requirements for a considered, well-planned addition to this critical node – and that from the day it opens it will become a popular regional destination attraction for Nelson Mandela Bay. An investment of this size – the largest ever in tourism and hospitality in Port Elizabeth, amply demonstrates our belief and confidence in the long-term potential of the metro and the province.”