Attfund Limited / Parkdev November 09 www. bus- ex. com 127 Although the winter climate in this region is sunny and dry, it does get very cold, thanks to its 1,500 metre- high altitude. So to make the courtyard usable all year round, there is a retractable roof that encloses the restaurant zone and brings it inside the mall. Named after a stream and waterfall at the nearby Kloofendal Nature Reserve, the centre has several water features, which set the scene for wonderful pedestrian areas. Thirty miles away in Pretoria, Woodlands Boulevard provides 42,000 square metres of shopping and entertainment hedonism, with over 100 tenants offering an upmarket shopping, dining and lifestyle destination. It is designed to be a place for food, fashion, furniture, jewellery, health and beauty, as well as being home to a complex of seven cinemas. As with all Attfund investments, Clearwater and " To make the courtyard usable all year round, there is a retractable roof that encloses the restaurant zone and brings it inside the mall" underway and destined to be completed by October 2010. Conversely, it may be the ideal time to undertake such expansions. Firstly, the cost of development tends to be lower as suppliers and contractors compete for business; in addition, when the economy begins its recovery, the extensions will already be complete and generating income. And there has been no shortage of contractors to choose from, due to the sheer number of construction projects currently taking place in South Africa, largely thanks to the 2010 World Cup. The Clearwater complex has been built as a 65,000 square metre triangle, with an anchor tenant at each point of the triangle. The inner court, grassed and open to the heavens, is where cinema and dining entertainment facilities can be found and is accessible via each leg of the triangle.
128 www. bus- ex. com November 09 Woodlands are managed by Parkdev, an asset and property management company with extensive expertise and systems to manage retail and commercial real estate. With offices in key cities and a staff of 106 people, it manages a total retail gross leasable area of 328,760 square metres and a further office component of 46,000 square metres in the form of office parks, which offer tenants the flexibility to gradually increase or decrease their space requirements as demands dictate. This in turn makes Parkdev's life easier by helping to keep vacancy levels particularly low. Both Clearwater and Woodlands have been successful in generating employment opportunities for their respective communities, with local people becoming tenants within the mall, or perhaps working with the sub- contractors on the construction. As part of Attfund's wider social responsibility programme, a R3 million per annum grant is made towards running the Parkdev Training Academy, dedicated towards raising skills levels within the industry. During the first two years of its existence, almost 1,500 individuals have passed through the academy, learning skills appropriate to work in a commercial environment in