Mall of Africa trades above expectations in year one

Acknowledging its success at a media conference, Morné Wilken, CEO of Attacq explained that the company regards the Mall of Africa as one of its most valuable assets in its property portfolio. “This mall is the realisation of a very significant vision and a long-term business journey. We identified a gap in the market to develop something extraordinary in the Waterfall area in the centre of Gauteng, the financial hub of South Africa.

“Given the great location, we wanted to create the benchmark mall for Africa and therefore we aptly named it Mall of Africa. Being conveniently located in Waterfall on the N1 at the Allandale off-ramp, we created a unique Gauteng destination experience for local shoppers, visitors and tourists alike.

“It is proving to be an iconic super-regional shopping and the destination it was intended to be, serving a large and growing customer base as part of Waterfall City, the CBD of Gauteng’s newest city in the making.

“There are several brands that have made their South African debut in Mall of Africa. These include The Kooples and Zara Home amongst others. There are also several new concept and flagship stores in the mall, such as Woolworths, iStore, Cotton On and Mr Price Weekend. The most recent stores to open are Huawei and Swatch, with Tasha’s opening in July 2017.

“These top brands recognise that Waterfall is a premium destination, with the right demographic of shopper and is an exciting area to invest in. Waterfall City where the mall is located is attractive in terms of both location and the demographics of the surrounding area. It is the new corporate headquarters consolidation destination for businesses such as PwC and the newly secured Deloitte deal. Attacq views the mall as the tipping point for putting Waterfall City on the map.

Wilken concludes, “We are committed to the future of Gauteng as the economic hub of the continent and to adding value to the future of South Africa – we will be part of the solution for economic prosperity in the region.”

Mall of Africa celebrates first year

Alistair Anderson  2 May 2017

Trading statistics (April 2016 – March 2017):

• More than 123,000 visitors on opening day 28 April 2016
  
• Winner of the 2016 SASC Spectrum Award for best super-regional shopping mall
  
• More than 130,000 m² general lettable area
  
• More than 300 retailers and restaurants
  
• More than 7,500 people employed during construction
  
• More than 4,500 permanent jobs created in the mall
  
• Achieved a turnover of R3,427,184,526 in the 11 months until March 2017 while for the month of December 2017, a record turnover of R491,145,650 was achieved
  
• Trading densities of R2,630 on average for the 11 months to March 2017, with the month of December 2016 achieving R4,110 per m²
  
• Spend per head per visit was R249 on average over 11 months, while the trading density in December 2016 was a higher R323
  
• 13,722,583 people visited the Mall of Africa in the 11 months until March 2017 – monthly average of 1,247,507 per month with highlight months of May 2016 with 1,537,661 and December 2016 with 1,517,89 visitors
  
• 3,207,590 vehicles arrived at the Mall of Africa in the 11 months until March 2017