Active development pipeline

Two new centres. Under way now.

Our current development pipeline is focused on community retail in Mpumalanga, with Three Fountains Shopping Centre under construction in Saul Mkhizeville and Mayflower Shopping Centre planned for Mpuluzi.

Under construction

Three Fountains Shopping Centre

Saul Mkhizeville, Mpumalanga

Building Where Growth Begins.

4,117 m²GLA
R74mProjected Year 1 valuation
ShopriteAnchor tenant
1 May 2027Target completion
Three Fountains Shopping Centre — architectural renderAnchor: Shoprite

Architectural render · subject to change

R1.1bnAnnual retail market potential
R312mUnmet convenience retail demand
59,479People in assessed catchment
0Existing Shoprite stores in Saul Mkhizeville

Source: Lightstone Retail Market Potential Estimate, Report 2928/JC, May 2026.

Project overview

A purpose-built convenience centre for Saul Mkhizeville.

Three Fountains Shopping Centre is a grocery-anchored community retail development currently under construction in Saul Mkhizeville, formerly known as Driefontein, in Mpumalanga.

The original development study places Saul Mkhizeville approximately 4 km from Kangra Coal Mine, approximately 70 km from Piet Retief and approximately 80 km from Ermelo. The original market study identified approximately 59,479 people and 11,290 households within the assessed catchment.

The shopping centre is being developed around a strong grocery anchor and a complementary mix of national fashion, service, food and convenience retailers. Three Fountains is intended to provide a modern national retail offering to an underserved local community, improve access to everyday goods and services, create employment and retain a greater proportion of retail expenditure within the area.

Retail offering

Confirmed tenants

A Shoprite-anchored convenience destination with groceries, food, clothing and local services — all closer to home in Saul Mkhizeville.

ShopriteAnchor
LiquorShopLiquor
KFCFood
OBCFood
AckermansClothing
PepClothing
CellularTelecoms
MedicalHealth

Retail units from 33 m² to 92 m² available. View leasing opportunities

21 October 2026 construction update

Steel framework takes shape.

Three Fountains Shopping Centre is taking shape in Saul Mkhizeville, Mpumalanga, with structural steelwork now rising above the concrete columns. The latest site photographs show steel columns and roof beams erected across sections of the development. The building's height, roofline and layout are becoming more defined, providing a clearer picture of the shopping centre that will serve the surrounding community.

  • Structural steel erection: Steel frames and roof beams are in place across several sections, with installation continuing.
  • Concrete columns and blockwork: Rows of concrete columns and foundation-level blockwork define sections of the building footprint.
  • Further material deliveries: Additional steel sections and reinforcing mesh have arrived on site to support continuing construction.
  • Active site operations: Construction teams, delivery vehicles and lifting equipment are supporting the structural works.

The steel framework marks a visible step forward from the foundations and column construction featured in our previous update. With the frame taking shape, the scale and form of the future retail spaces are becoming easier to see. Developed by Assegai Assetco, with MET Builders as the turnkey contractor, Three Fountains is designed to bring everyday shopping closer to home.

View full construction progress
Site establishmentComplete
Bulk earthworksComplete
Column foundationsComplete
Structural steel erectionIn progress
Concrete columns and blockworkIn progress
Shoprite shellIn progress
Tenant fit-outPending
Opening1 May 2027

Development timeline

Progress to date

2024

Site acquisition & planning

Assegai secured the site in Saul Mkhizeville and completed the feasibility study, market analysis, and town planning approvals.

Early 2025

Anchor lease signed

Shoprite signed a long-term lease as anchor tenant, confirming the commercial viability of the centre and enabling the development to proceed.

2025–2026

Design & procurement

Architectural and engineering design was finalised. MET Builders was appointed as principal contractor following a competitive tender process.

Mid-2026

Construction commences

Site establishment and bulk earthworks began. Column foundations were poured and cured ahead of schedule.

September 2026

Superstructure under way

Structural steel erection and Shoprite shell blockwork commenced. Construction photography documents progress on site.

21 October 2026In progress

Steel framework takes shape

Steel columns and roof beams are now erected across sections of the development. The building's height, roofline and layout are becoming clearly defined.

1 May 2027

Planned opening

Three Fountains Shopping Centre is scheduled to open to the public, bringing Shoprite, KFC, OBC, Ackermans, Pep and a range of local services to Saul Mkhizeville.

Project partners

DeveloperAssegai Asset Company
Project SPVThree Fountains Assetco (Pty) Ltd
Turnkey contractorMET Builders (Pty) Ltd
Anchor tenantShoprite

On site

Steel framework takes shape

21 October 2026
Steel roof beams and columns rising above the Three Fountains site, Driefontein, 21 Oct 2026
Wide view of Three Fountains structural steel frame with crane on site, Saul Mkhizeville, 20 Oct 2026
Three Fountains steel frame viewed from outside the perimeter fence, Saul Mkhizeville, 21 Oct 2026
Steel delivery truck unloading sections at Three Fountains, Driefontein, 21 Oct 2026
Close-up of steel frame interior showing column grid and roof beams, Three Fountains, 21 Oct 2026
Delivery truck with steel sections arriving on site, Three Fountains, 21 Oct 2026
Crane offloading steel sections with construction team, Saul Mkhizeville, 20 Oct 2026
Three Fountains Shopping Centre — architectural renderArchitectural render

Photography: September 2026 · MET Builders

Planned

Mayflower Shopping Centre

Mpuluzi, Mpumalanga

Bringing Growth Closer to Home.

9,447 m²GLA
±R200mProjected Year 1 valuation
ShopriteAnchor tenant
2028Target completion
Mayflower Shopping Centre — Shoprite, MRP, Standard Bank entrance render

Architectural visualisation · subject to change

9,447 m²GLA
±R200mProjected Year 1 valuation
259Planned parking bays
2028Target completion

Project overview

Mayflower Shopping Centre is a substantial grocery-anchored community shopping centre planned for Mpuluzi, Mpumalanga.

The original development study positions the project along the R33 and R38 regional routes and describes the surrounding economy as being supported by farming, coal mining and precious-stone mining activities. The assessed market included approximately 120,839 people and 29,842 households.

The detailed leasing schedule provides approximately 9,447 m² of rentable area and includes a broad retail mix spanning grocery, fashion, furniture, pharmacy, cellular, food and services, with approximately 259 parking bays. Mayflower Shopping Centre is being developed as a significant regional community retail destination, consolidating grocery, fashion, food and essential services into a modern shopping environment serving a large surrounding catchment.

Planned tenants

ShopriteGrocery anchor
MRPClothing
Standard BankBanking
KFCFood
Supa QuickAuto services
Total EnergiesForecourt
PepClothing
AckermansClothing
CapitecBanking
Boxer LiquorsLiquor
Chicken LickenFood
DebonairsFood
ClicksHealth & beauty
VodacomTelecoms
MTNTelecoms

Tenant mix is indicative and subject to change.

Architectural visualisations

How Mpuluzi will look

Mayflower Shopping Centre — full frontage with mountain backdrop
Mayflower Shopping Centre — Shoprite entrance view, Mpuluzi
Mayflower Shopping Centre — Supa Quick corner, Mpuluzi
Mayflower Shopping Centre — Total forecourt and entry, Mpuluzi
Mayflower Shopping Centre — courtyard and ATMs, Mpuluzi
Mayflower Shopping Centre — entry view with mountain backdrop, Mpuluzi

All renders are architectural visualisations only. Final design subject to change.

Mayflower Shopping Centre is a planned development. All figures, tenant lists, and architectural visualisations are indicative only and subject to change. Projected Year 1 valuation is an Assegai Assetco development figure. This information does not constitute a financial offer or investment advice.

Interested in leasing or investing
in either development?