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Port Elizabeth – More than 38 000 eager shoppers flocked through the doors of South Africa’s newest regional mall, the R1.7bn Baywest Mall in Port Elizabeth on Thursday.
Just 24 months after ground broke on the 90 000m² mall, Eastern Cape Premier Phumulo Masualle declared it officially open, saying it was and would be a major boost for the province’s economy.
The mall, one of the largest private investments in the region, is the catalyst to the development of the greater Baywest City precinct –a R6bn city within a city comprising of residential, commercial, lifestyle and community developments which will unfold over the next decade, starting with R500m worth of development this year alone.
Co-developers on the project, Abacus Asset Management and Billion Group have overshot their employment targets by 81%.
According to an independent audit by BTKM, instead of 3 000 direct jobs being created during the construction of Baywest Mall, 5 418 direct jobs were created – 76.8% of which involved Eastern Cape locals, while 94.9% of employees were classified as previously disadvantaged individuals (PDIs).
Masualle said the development is a reflection of the hard work which has gone into the project over time.
“A development of this magnitude has the potential to spur other developments in the manufacturing sector, and downstream industries will flourish. I am encouraged that more than 75% of people employed during construction came from the province. It is something worth celebrating," said Masualle.
“We are looking forward to the further 2,500 permanent jobs that the operation of this mall will create.”
