PRETORIA - A multi-million rand spectre haunts Pretoria East's leafy suburbs: the dormant Villa Mall.
This 75% complete development remains vacant, after the Reserve Bank ruled that the developer Sharemax violated the Banks Act.
READ: Villa Mall | R3.5bn ghost mall looms over Pretoria East
The project's collapse was fueled by allegations that the company operated as a Ponzi scheme.
Now, 15 years later, the site is a blight on the local economy, actively depressing property values in the area.
eNCA senior reporter Aviwe Mtila provided an update on this story.