A decision on the future of The Villa, the half-built derelict shopping mall in Pretoria’s eastern suburbs that was promoted and marketed by Sharemax as a property syndication scheme, has been delayed. A meeting of affected persons held this week to determine the future of Thumos Properties 1, the original developer of the mall and whose only asset is a 70% undivided portion of the land on which The Villa has been built, was adjourned until 9 June.
Sharemax rescue vehicle makes a U-turn on payments to investors [Dec 2021] Settlement agreement Nova Property Group said in July 2022 that in terms of a settlement agreement entered into in 2011, Villa Retail acquired a further 50% undivided share in The Villa Mall. It said this settlement agreement was subject to the payment of certain amounts by Villa Retail and fulfilling certain obligations.