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Commercial Property News

V&A Waterfront's Watershed turnover grows by 300%
The Watershed opened for trade in October 2014 after an R50-million transformation of an existing craft market space, and has fast become an important facilitator and supporter of local entrepreneurship through the sale of handmade items and African design. 24 Nov 2015
Izak Petersen.
Izak Petersen.
The Eyethu Orange Farm Mall has attracted more than a million shoppers a month this year and has recorded consistent month-on-month growth. 19 Nov 2015
Pieter Prinsloo. Image credit:
Pieter Prinsloo. Image credit: Financial Mail
Retail-focused property group Hyprop Investments and capital growth fund Attacq have bought Ikeja City Mall, the largest shopping centre in Lagos. 18 Nov 2015
91 Koeberg Mall opens
91 Koeberg Mall on Koeberg Road in Brooklyn, Cape Town, has opened. Betty Olla, the investor in the new development, which is worth more than R13mn, was responsible for the planning phase and will oversee the leasing and long-term management of the shopping centre. The property is owned by the Olla Family Trust. 16 Nov 2015
The Big Mouth
The Big Mouth
Nelson Mandela Square, Sandton is nearing the completion of its refurbishment in which it will feature new tenants, offering a fresh range of restaurants including a Tashas Café, The Big Mouth and Remo's. These restaurants will complement new local and international fashion brands such as Luminance, La Martini, Thomas Pink and Forever 21, which opened for trading in October. 16 Nov 2015
Regional mall for Alexandra
The township of Alexandra, next to Sandton, is set to elevate itself closer to "the richest square mile in Africa" with the commencement of construction of its own fully enclosed regional mall. 12 Nov 2015
East London's Gillwell Taxi Retail Park opens
The Gillwell Taxi Retail Park in the East London CBD opened on Thursday, 12 November 2015. The R316 million park was developed for the Dipula Income Fund by Isibonelo Property Services and the Eris Property Group. The 22,260m² three-level shopping centre brings together retail and public transport. 12 Nov 2015
Dipula announces remarkable growth
The Dipula Income Fund has reported an increase of 33% in distributable earnings for its financial year to 31 August 2015, during a period of remarkable growth. Dipula's combined growth in distribution per share of 7.05% is up on its half-year distribution growth of 6.8% per share, and in line with its market guidance. Its distribution growth comprises a 5.0% increase per Dipula A share and 9.5% increase per Dipula B share for the full year. 12 Nov 2015
New food court for The Zone @ Rosebank
Rosebank's first food court has opened: a 2000m² indoor food emporium on the first floor of The Zone @ Rosebank, with panoramic views over western Johannesburg and a balcony on Oxford Road. 10 Nov 2015
Carletonville Mall opens
Carletonville Mall - the new R330 million 26,000m² shopping destination in the famous gold-mining town on Gauteng's West Rand, has opened. Developed by Bentel Group, the mall brings top-quality shopping under one roof to serve not only the Carletonville community, but the neighbouring township of Khutsong and a regional market that includes Westonaria, Fochville and people travelling to Potchefstroom. 2 Nov 2015
Sisa Ngebulana. Image source:
Sisa Ngebulana. Image source: Financial Mail
Rebosis Property Fund's dominant retail centres performed strongly in the year ended-August, helping the group achieve its highest distribution growth yet. 30 Oct 2015
Record high Xmas predictions for Middelburg Mall
Record trade highs are being reported at Mpumalanga's Middelburg Mall, with its shopper numbers growing by an unprecedented 32% over the past year. All signs point to the regional shopping centre achieving record high sales figures this festive season. 27 Oct 2015
Michelle Amorim
Michelle Amorim
The Heidelberg Mall's shopper numbers and sales figures are still growing, a year after the mall opened in October 2014. Now, the one-stop family entertainment centre Hard Hats Entertainment will open at the mall before the end of October. Mr Price Sport is opening on 1 December, and the Black Steer steak house opened at the end of September. 23 Oct 2015
Delta Africa buys stakes in two Zambian malls
© Vitaliy Kytayko – 123RF.com
Delta Africa, formerly Delta International, has acquired significant interests in two Zambian shopping malls, extending its asset base into a third country. 21 Oct 2015
RNS announces new rural mall projects
Retail Network Services (RNS) has announced that it is working with the GMI Property Group on two new rural mall projects in Limpopo totalling R300 million. The developments are set to benefit rural communities in Limpopo by not only bringing quality shopping to their doorsteps, but creating jobs and helping to retain valuable spend in rural areas. 20 Oct 2015
R90-million makeover for Northmead Square, Benoni
The Northmead Square shopping centre in Benoni has embarked on a R90-million upgrade that will introduce a new-generation Woolworths Food store of around 1800m² to the centre and give the centre a fresh, modern makeover. 14 Oct 2015
Record trade reported at the Morningside Shopping Centre
The Morningside Shopping Centre has achieved a record performance in September, recording its highest monthly turnover since its opening in June 2009. Overall, the community centre in Sandton is delivering growth of 10% year-on-year. 13 Oct 2015
The UK’s Capital & Regional financial director Charles Staveley at the main board listing on the JSE on Wednesday.
Photographer: Martin Rhodes
Image source:
The UK’s Capital & Regional financial director Charles Staveley at the main board listing on the JSE on Wednesday. Photographer: Martin Rhodes Image source: BDlive
Investors must be circumspect when it comes to investing in new offshore property companies that are listing on the JSE, with one commentator voicing concern that these counters may be overvalued. 8 Oct 2015
Viva Gym chosen for pricing policy
Viva Gym, a low-cost fitness franchise, is to open its fourth club this month at The Zone @ Rosebank in Johannesburg. 7 Oct 2015
Marius Muller
Marius Muller
The Pavilion shopping centre in Durban is to get a R1.1 billion makeover and expansion designed to reposition the centre, significantly increasing its leisure and retail offering, as announced by Pareto, the owner of The Pavilion, at the SA Council of Shopping Centres' 19th Annual Congress. 2 Oct 2015
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