"The acquisition of Nicolway demonstrates our optimistic view on the recovery of the SA economy from the effects of the Covid pandemic. We are also seeing a shift from large shopping malls to small convenient shopping centres – a growing trend that presents growth opportunities for our property portfolio," said Zamani Letjane, MD of Akani Properties.
Apart from the Nicolway Shopping Centre, the acquisition includes all properties in the Nicolway Precinct. “The acquisition includes all rights in the leases of all properties and all other assets necessary for the carrying out of the business enterprise,” a statement from Akani read.
