Construction begins in the first quarter of 2008. Completion is expected before the end of 2009.
Caswell Rampheri, Managing Director – Liberty Life Property Development, commented: “We are repositioning Eastgate by creating a lifestyle environment that complements the excellent fashion and shopping experience.
“Expansion will be complete in time for the Soccer World Cup. The lifestyle element will therefore add an exciting dimension at a time when tourism could be at record levels.
“The extension is part of a master-plan involving a series of mixed-use phases. These developments will ensure Eastgate maintains its position as one of South Africa's premier shopping destinations.”
Additional parking areas are also being created.
Rampheri added: “Phase one will introduce a lifestyle concept to Eastgate similar to that at Sandton's Nelson Mandela Square. The phase will include the development of a restaurant piazza on the roof, additional retail units and a reconfiguration of the current food court, turning it into a fashion area.
“The piazza will consist of approximately 2,500m2 of restaurants and other food outlets. The current food court will be reconfigured to accommodate smaller branded shops.”
Eastgate, a 26-year-old super regional shopping centre, is wholly owned by life assurer, Liberty Life. It is one of seven super regional centres (above 100,000 m2) in the country and is fifth largest by gross lettable area.
Currently, Eastgate offers an enclosed shopping environment with no lifestyle component. The centre is known for its strong retail offering and is differentiated by the wide variety of fashion brands.
Liberty Properties is the property development and management arm of the Liberty Group. Its R14 billion property portfolio includes some of South Africa's landmark retail developments, including Sandton City, Nelson Mandela Square and Eastgate. The total gross leasable area of the 67 portfolio properties is in excess of 1.5 million m2. The portfolio includes eleven hotels managed on Liberty's behalf by Southern Sun.
