Business Day HomeFront 04 May 2018

HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA 4 MAY 2018 WWW.BUSINESSLIVE.CO.ZA

MUST READ

Luxury local design finds its focus PAGE 2

Malls ride wave of shopper demand PAGE 10

Last Blair Atholl stands on sale PAGE 14

Finding the middle ground Smart homes in Upper Claremont

Buyers queue for mid-level residential estates PAGE 6

PAGE 14

GOLF & EQUESTRIAN ESTATE

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Exclusive Stands

From R1.565m - R3m

AN UNPARALLELED LIVING EXPERIENCE Brenda Gilbert: 083 251 4452 brenda.gilbert@pamgolding.co.za Sharen Byren: 083 461 3999 sharen.byren@pamgolding.co.za Office: 011 469 4691 blairatholl.co.za

HOMEFRONT DESIGN

Luxury goes local High-end design in a South African context often takes the form of everyday items made beautifully WORDS: JULIA FREEMANTLE PHOTOS: JAY PEREZ PHOTOGRAPHY, FRANCES MARAIS AND ANNALIZE NEL

Traditional beading by Sidai Designs

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Luxury handbag range by Khokho

s SA grows as a creative force, all the while becoming more integrated into the global design world, we start to see how wider trends influence local design. Moving from a parochial, ethnic-centric approach, designers in the luxury sphere are making products that speak to a universal aesthetic, while retaining a strong sense of identity and cultural pride.

International trend analyst Li Edelkoort confirms this inward-looking trend and a desire to focus on where we are. She predicts that 2018 will prompt a desire to create sanctuaries within our homes, and catalyse a need for simplicity and humanity that will undoubtedly affect relationships to design.

This reinforces the ongoing trend of mindfulness in design, which has steadily been gaining momentum, where the origin of a product — its story and its impact — is as important as what it looks like.

The idea of owning luxury objects but not using them is also outdated. Luxury design in the South African context often comes in the form of everyday items made beautifully.

Global locals Johannesburg product designers Katy Taplin and Adriaan Hugo and their brand Dokter and Misses have found global success with their minimal contemporary designs.

These feature clean lines that have universal appeal and an upbeat industrial aesthetic, often painted patterns in bright colours, signalling a South African optimism and boldness.

Cashmere designer Trebene is another globally inspired brand. Based in SA with products made ethically from Kashmiri cashmere, using ancient technique and printed with designs inspired by the merging of the contemporary and traditional worlds, it is truly the epitome of a global modern luxury brand.

Merging Italian leather workmanship and Swazi grass weaving, Khokho has elevated these humble skills into a luxury handbag range that boasts a global aesthetic and high-end finishes.

“Storytelling in design and establishing a sense of place are playing bigger roles than ever as consumers seek authenticity from brands”

Collaborators The theme of collaboration to produce desirable objects ties into a 2018 African design trend addressed recently by trend forecasting company WGSN. “Kinship”

Contemporary designs by Dokter and Misses

HOMEFRONT

Tapputi and the Sea solid perfume by House of Gozdawa and Atelier Kaja Dahl comes down to an increased sense of community in the design world, where cultures come together, borders are crossed and craft techniques blend together in the making of something new.

Art and design collective Southern Guild and The Guild Group as a whole have mastered this approach.

They provide support and mentorship to emerging local talent, and facilitate new partnerships among artists and makers, often pushing them to explore new territory (as in their recent Extra Ordinary show where selected artists were asked to experiment with new ideas or materials). In so doing they generate a spirit of innovation, with new work that crosses genre lines, redefining the line between art and design.

These collectors’ items often blend functionality with the sense of luxury that comes from being one of only a few artisanal pieces made. This preservation and elevation of craft by incorporating it into design items allows people to view it in another light,

Luxury cashmere products by Trebene

Mural at Bosjes farm restaurant by Michael Chandler and Lucie de Moyencourt PRODUCED BY BLACKSTAR PROPERTY PUBLISHING 1st Floor, Block H, Sable Square, Cnr Bosmansdam and Ratanga roads, Milnerton, Cape Town 021 447 7130

Crafters Textile company Mungo, which is based in Plettenberg Bay, has created a business around the craft of weaving — where timehonoured techniques are used to create quality pieces with soul and substance.

There are others …

Tanzanian jewellery design company Sidai Designs takes traditional beading methods and interprets them for a contemporary audience, while honouring the craft.

Perfumer Agata Karolina has centred her business, House of Gozdawa, on a small-batch artisanal product. Her perfumes are all made with natural essential oils and bottled by hand in Cape Town. Karolina’s collaboration last year with Norwegian design studio Atelier Kaja Dahl on a solid perfume was inspired by

Cape Town. The fragrance highlighted the locationspecific scents of sea air, fynbos and kelp, cementing an aromatic memory forever associated with the city.

Provenance Storytelling in design and establishing a sense of place are playing bigger roles than ever as consumers seek authenticity from brands.

With SA’s rich and complex cultural heritage and the beautiful visual opportunities this presents, the possibilities for execution in the luxury realm are exciting.

Michael Chandler, a champion of Cape Town’s scenic beauty and history, heads Chandler House. He weaves details specific to the city into his homeware and decorative pieces, such as a Cape Dutch architectural motif, beading techniques and indigenous fauna and flora. Take the “tree of life” mural he created with Lucie de Moyencourt on the porcelain outer wall of the Bosjes Kombuis restaurant at a wine farm in the Breede River Valley. It paid homage to shards of Delft Blue dug up on the farm. Handpainted on 366 blue and white tiles, the design depicted more than 100 species of resident flora and fauna.

Chineseware beaded range by Chandler House A

EDITORIAL TEAM Editor: Kim Maxwell Designer: Samantha Durand

as something valuable.

Similarly, a hand-made item is considered precious because it is rare and by its very nature cannot exist in great numbers. So it remains desirable — the antithesis to mass production.

PUBLICATION ADVERTISING SALES

Managing Editor/Copy Editor: Michael van Olst Production: Joanne le Roux

Michèle Jones Susan Erwee

michele.jones@thecreativegroup.info susan.erwee@thecreativegroup.info

084 246 8105 083 556 9848

HOMEFRONT

Le Parc Residential Estate, Paarl

PROPERTY TREND

Finding the middle ground Buyers queue for mid-level residential estates WORDS: GEORGINA GUEDES :: PHOTOS: SUPPLIED

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roperty buyers and investors are turning to mid-level residential estates for housing solutions.

Security, amenities and surroundings suggest this market looks set to soar.

While estates were traditionally marketed to high-end investors, their appeal is universal. In response to interest, many estates are now offering mid-level options.

Stone Ridge Estate, Centurion

IGrow Wealth Investments GM for new developments Gerhardt Jooste says he has observed a significant uptake of property below R2m.

He attributes this to the growing emerging middle class, which is becoming increasingly prosperous and looking for more secure and affordable options. Jooste says there is also a trend towards downscaling, a demand for smaller

retirement properties, the economic recovery and better lending criteria, and a growing “investor purchaser” market.

Lightstone analytics director Paul-Roux de Kock predicts that mid-value house prices should grow by between 4.6% and 7.5% during 2018. “Looking back at the past 18 months we have observed that price inflation of mid-value properties has tended to be about 2% above national

inflation.” De Kock says more buyers from the informal housing market are entering the lower-end affordable market, driving the increase in the lower and mid-value segments.

REASONS The April 2018 South Africa Wealth Report released

by New World Wealth detailed the reasons South Africans are turning to residential estates. Among these are the security of these developments, centralised amenities such as swimming pools, golf courses, gyms and tennis courts, lifestyle and community perks including parks, play areas and even schools, and limited traffic that makes the estates safer for children.

The report also highlighted new trends in estate development.

“Most developers are now creating small neighbourhoods within the estates, as opposed to the old model where houses were spaced evenly around the entire property. This allows for more parkland and open spaces between the neighbourhoods.”

“One major trend is high demand for apartments on residential estates — such as in Steyn City — and high demand for apartments linked to shopping centres such as Melrose Arch,” says New World Wealth analyst Andrew Amoils.

In addition, a number of residential, lifestyle and golf estates have begun to add luxury apartments to their offerings. Previously most residential estates focused on houses. Parkland estates, with pleasant parks, birdlife, walks and trails — for example Steyn City — are becoming more popular.

DEMAND “There is a massive demand for affordable properties as purchasers’ decisions will be influenced first by ‘what can I afford?’. We’re seeing in the Cape Town area that the size of units is more and more reduced to make them more affordable,” says Jooste. “Purchasers will settle for a smaller unit if it fits their budget.”

He says end-user buying is competing in this market against investment purchasers. IGrow is selling on average R100m a month

off plan, with a huge demand in Cape Town, Gauteng and Durban. “In prime locations, especially in the major metros, demand is outstripping supply.”

SECURITY In a country with a worrying crime rate, security is one of the biggest drawcards. Seeff Properties Pretoria East MD Gerhard van der Linde says buyers are prepared to pay a premium for a home in a secure estate.

“For buyers, it is often easier to move to a security estate where residents are able to enjoy the surroundings and outdoors with relative peace of mind.”

One example is Essenhout Plein, a new security estate in Cape Town’s Northern Suburbs with only 67 units, close to the N1 and amenities such as Cape Gate Mall and a private primary school.

The homes, marketed by Pam Golding, are priced from R1.815m including VAT. They are ideal for first-time home owners and young families wanting to live on a safe estate.

In Gauteng, Seeff Randburg MD Chris Hajec says about 22% of the housing stock in

HOMEFRONT Randburg comprises a wide range of estates.

“Property in estates represents 18% of the total units sold in Randburg in 2017, but nearly 26% of the rand value,” he says.

Timberwood Estates in much sought-after Randpark Ridge is a good example of security, position and value for money available in a smaller estate, with prices at about the R1.6m mark. Off Dale Lace Avenue, it offers the purchaser the benefits of freehold ownership in a popular suburb.

OPTIONS Seeff Centurion MD Steve van Wyk says that about 20% of residential property in the suburb is located in 60 security estates. “While there are expensive estates such as Cornwall Hill where homes are priced up to R30m, there are options in every price range. Homes in some are priced from as low as R1.5m,” he says.

Typical mid-level estates in Centurion include Heritage Hill, Candlewoods, Wierda Glen, Stone Ridge, Amberfield and Thatchfields.

“Demand for estate living in Centurion is exceptionally high because of the security factor, but also because of a better resale value in general,” Van Wyk says.

A major drawcard of estate living is that with a built-in community, a

number of amenities are put in place to entertain and occupy residents. And midrange developments are not neglected in this regard.

LIFESTYLE “Pricing is generally higher in gated communities than in surrounding ‘open’ suburbs because buyers know they are not only buying bricks and mortar, but also a lifestyle, the upkeep of common areas (and a golf course in some instances), as well as for security,” says Charles Vining from Seeff Sandton.

There are a number of estates in this trading area that include lifestyle estates, retirement villages, equestrian estates, golf estates and eco estates.

Vining says Fourways Gardens Residential Estate was the first of its kind in Johannesburg.

FACILITIES One estate providing a wealth of amenities at a mid-level price point is family lifestyle development Le Parc Residential Estate in Paarl.

Prices range from R1.65m to R3m for turn-key homes, designed by architects Malherbe Rust and interior specialist Niche Interiors.

It has central parkland with a kick-about field, a pump track, kids’ play area, water features, outdoor gym stations, tennis

Fourways Gardens Residential Estate, Fourways

courts and picnic areas.

The estate incorporates orchards, vineyards, a jogging and bike track and an on-site crèche, making for easy living for young families — and of course security at the standard of some of the best lifestyle estates. The price point has been specifically set for affordability without compromise.

BALANCE “Le Parc Residential Estate is the perfect balance between exclusivity and price,” says estate development specialist Martin van Rooyen. He says the Le Parc team has developed a quality estate for buyers put off by the price of properties in more well-known estates who do not want to settle for some of the more affordable housing available in the Paarl area.

Burgundy Estate in Cape Town’s Northern Suburbs is another example of affordability without compromise.

It has apartments starting from about R1m and houses from R1.8m, but still offers plenty of green areas and amenities ranging from multipurpose sports fields, a nine-hole mashie golf course, a clubhouse with tennis court, a canoeing pond, cycle tracks and walking and jogging paths.

Capricorn Beach Estate in Muizenberg, where prices

The Village, Eye of Africa, Johannesburg south range from R950,000 to R2.8m, has play areas for children, two swimming pools and a path to the beach so that residents can enjoy walks, jogging and cycling.

CLUSTERS Residential estates are also increasing their apartment and cluster home yield as this makes it possible to bring down the price point and attract greater numbers of investors.

“Developments that have clusters for sale between R1.9m and R3m are where the proverbial sweet spot is,” says Jessica Hofmeyr, executive in charge of sales, rentals, marketing and interiors operations at Century Property Developments.

“The reason for this is that purchasers will buy directly from the developer, which means there are no transfer fees, as opposed to purchasing from an estate agent.”

She says that because vacant land is becoming more expensive, property developers would rather obtain the rights to develop large numbers of apartments as opposed to a select few cluster units as profit margins are higher.

CHOICE

Paradiso Premium Apartments, Sitari Country Estate, Somerset West

“That is why the apartment segment of the market is oversaturated, making individual cluster units a rare development choice, and therefore the price will increase.”

The property market has seen this happen; and when supply goes down, demand goes up. Hofmeyr says clusters located in and around residential estates are also popular investment options because they act as “stepping stones” for purchasers aspiring to invest in estates.

At Serengeti Estates, near Johannesburg, a new apartment development

“Purchasers will settle for a smaller unit if it fits their budget” Gerhardt Jooste, IGrow Wealth Investments

perimeter of the estate.

Westlake Eco-estate, developed by Balwin Properties in Modderfontein, is close to highways for an easy commute. It offers urban living in a natural environment and its apartments come with eco-friendly appliances and prepaid gas, electricity and water meters. All residents have access to the on-site lifestyle centre and its selection of leisure and sports facilities. Three-bed and two-bath apartments start from R1.299m.

WETLAND

named The Whistling Thorns was launched in October last year. Located on the second fairway of Serengeti’s nine-hole golf course the 188 apartments were designed by DHK Architects. Prices are from R1.6m to R2.7m.

“We are pleased to be able to offer this option for people interested in living at Serengeti.

“It provides an added alternative in terms of the types of homes available, and is ideal for singles and professionals desiring a lock-up-and-go lifestyle, as well as young families,” says property director John Hart.

The first units will be ready for occupation in the last quarter of 2018.

SURROUNDINGS The Village at the Eye of Africa in Johannesburg south is another example of an apartment development within a golf estate. It offers two- and three-bedroom options from R1.455m.

Many people opt for residential estates because these give them access to parklands with walking and biking trails within the secure

Sitari Country Estate in Somerset West offers Paradiso Premium Apartments, with views of the Klein Zeekoevlei Wetland, and easy access to a 14km bike and jogging path. Prices start at R1.095.500 for a onebedroom, R1.725m for a two-bedroom, and R2.406m for a three-bedroom apartment.

This month the estate will also launch plot and plan homes in The Residences, a new neighbourhood, priced between R3.5m and R4m.

Seeff’s Van der Linde says properties in secure lifestyle estates tend to hold their value and produce better capital growth compared with open neighbourhoods.

GOOD INVESTMENTS A Lightstone report on residential estates released towards the end of last year stated that although “luxurymarket buyers are under pressure, the estate-housing market in general doesn’t dip as low or peak as high as the rest of the luxury market” so it can be a stable performer.

South Africans will continue to turn to residential estates. Offering affordability, with no compromise on security, amenities or surroundings, the mid-range residential market looks set to be buoyant in years to come.

HOMEFRONT COMMERCIAL TREND

Retail centres bulking up South African shoppers still choose to trawl the mall WORDS: STAFF WRITER :: PHOTO: SHUTTERSTOCK

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outh African malls are growing even bigger, despite the rising trend of online shopping. A recent study by Morgan Stanley Capital International (MSCI) indicates that proposed centres are twice as big as those developed during the 2000s.

The study conducted on behalf of the South African Council of Shopping Centres (SASC) shows that retail developments in the pipeline measure 1.9-million square metres across 68 centres, the bulk due for completion in 2018.

While the rise of online shopping could spell challenges for traditional retail stores, a 2017 report

by Visa indicates that South Africans prefer shopping in malls.

The Visa report says online sales in SA were estimated at R9bn in 2016, 1% of total retail sales, and are expected to grow to R53bn this year. However, 63% of consumers surveyed said their first choice was shopping in a bricks and mortar store.

CONCEPT STORES “We are seeing the rise of fresh concept stores and innovative success stories from physical stores,” says Sean Paul, executive director of Spire Property Management, which holds management contracts for retail centres across SA. “We have also seen an influx of international brands providing a plethora of choices for consumers.”

Retail property developer and investor Flanagan & Gerard

Property Development says the international and local market is seeing a trend towards mixed-use precincts.

“The efficiencies that a mixed-use precinct brings to the market is attractive to all stakeholders,” says MD Paul Gerard. “Allowing a consumer to live, work and shop in one area adds to the convenience and saves time and money.”

SHIFT Gerard says Melrose Arch in Sandton and Menlyn Maine in Pretoria are good examples (Flanagan & Gerard played a role in the Menlyn Maine retail component). Retail developers have seen a shift towards wellness, health and beauty and pampering as the most buoyant categories. “We

see exceptional trading densities and growth from these sectors.”

The MSCI study says retail supply in smalltown markets is expecting double-digit growth up to 2020 compared with 2010-16. Mpumalanga, Limpopo and the Eastern Cape combined contribute 82% of the overall retail pipeline in the small settlement-type markets.

Gerard says that in 2018 his company is looking at a number of opportunities where value can be added to existing assets, such as its Maluti Crescent project in Phutaditjhaba, Free State.

The existing shopping centre will expand from 22,000m 2 to 34,500m 2 .

EXPANSION The MSCI study also notes that despite a slowing of

“We are seeing the rise of fresh concept stores and innovative success stories from physical stores” Sean Paul, executive director, Spire Property Management

HOMEFRONT

EXPANSION IN NUMBERS 1.9-million m² — total area of South African malls in the pipeline

32 — new centres a year in SA since 2010 50,000m²— Menlyn Park R2bn revamp addition 175,000m² — Fourways Mall R2.2bn expansion 82,000m² — Ballito Junction expansion Sources: Morgan Stanley Capital International, Flanagan & Gerard

CENTRES OF EVERYTHING Consumers of the near future will demand more activities at malls and stores as the line between shopping and leisure becomes increasingly blurred.

development, the South African retail market has expanded significantly over the past few decades, increasing to 23.4-million square metres at the end of 2016. Since 2010, an average of 32 new centres a year have been completed.

Menlyn Park in Pretoria, now the largest shopping centre in SA, embarked on a R2bn redevelopment in 2016 that added 50,000m 2 of retail space to its already large footprint, making it one of the largest malls in Africa.

The Fourways Mall expansion project in Johannesburg broke ground in February 2017. The R2.2bn development will see the mall become a retail behemoth of 175,000m 2 .

The Pavilion and Ballito Junction, both in KwaZuluNatal, have also undergone

expansion projects. Ballito Junction grew from a 10,000m 2 community centre to a 82,000m 2 regional mall, says Flanagan & Gerard. The 49,000m 2 Springs Mall opened on March 16 2017 to become the first regional mall in the Ekurhuleni city.

MSCI executive director Phil Barttram says the perspective of the link between retail space, economic activity and population density is crucial. “There are fundamental drivers of mall defensiveness and it will be the malls that best exploit these factors that will prove to be more resilient.”

A study by international commercial real estate services firm CBRE says shopping centres will reinvent themselves as mixeduse destinations, adding healthcare, educational and leisure uses.

The Future of Retail 2030 predicts that the focus of petrol stations will change. They will become important mini-logistics hubs, including serving as collection points for online shoppers. Ownership of electric and hydrogenpowered vehicles will become more common and there will be an increased need for fastcharging points.

“Retail will evolve at a quickening pace, reshaping the roles of the shopping centre, the petrol station and the store. The speed of change may catch some

people by surprise,” says CBRE global retail research director Natasha Patel.

and brand names, to give the appearance of independence.

“The mind-set and requirements of the consumer will evolve more quickly than the industry can adapt.”

Faster ways to pay Many retailers have already removed the physical checkout desk. This is likely to continue as technology plays an increasingly important role as an enabler of retail sales.

CBRE executive Anthony Buono says customers want quick access to goods and services across any and all channels, and they want meaningful experiences around their purchases, be that education, entertainment or wellness.

Other insights include:

Wearable gadgets take charge Smaller and wearable gadgets will connect people to the Internet of Things and provide access to most information and services. Retailers and landlords will need to provide digitally enabled environments that can take advantage of consumers’ connectivity.

Independent brands Retail chains will further develop local concepts

VR fitting rooms Virtual reality technology will allow customers to try on an outfit in a virtual environment and show items already owned in combination with the item being considered for purchase. Fitting room technology will also allow the customer to request a different size or style via touchscreen.

Rise in wellness establishments The Instagram generation will have an even greater interest in looking and feeling good. Fitness centres will become commonplace in malls, urban areas and in new-build residential properties.

HOMEFRONT PROPERTY NEWS

Claremont Upper smart homes from R8.5m

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omes at the Thelma property development in Cape Town’s Claremont Upper are on the market from R8.495m, including VAT. The 296m 2 homes by Aview, comprised of one three-bedroom and two four-bedroom units, are close to good schools and hospitals, shopping and recreational amenities.

The homes are designed

for family life or as lockup-and-go units. Upstairs bedrooms are north facing and offer good mountain views. The development makes use of the latest in home automation via cellphone applications.

Security includes CCTV, an alarm system and electric fencing.

Optional extras include a swimming pool, solar energy, a Tesla battery

setup, air conditioning and underfloor heating.

There is also a choice of interior designs, tiles, wall colours and flooring. Automatic irrigation uses grey water, allowing gardens to be water efficient and easy to maintain.

Marketed by Greeff Christie’s International Real Estate, Thelma is set for completion in June.

Stands at Blair Atholl on the market

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he final tranche of 80 residential stands at the exclusive Blair Atholl Golf and Equestrian Estate has been put on the market. Sized between 2,542m2 and 5,607m 2, the stands are priced from R1.565m to R3m.

South African golfing legend Gary Player bought the farm in the early 1980s and lived there for 30 years before moving to Plettenberg

Bay. The Cradle of Humankind to the west and the Renosterspruit Nature Conservatory to the north border the estate. It is 2.5km from Lanseria Airport and close to Fourways.

Blair Atholl’s GM and director of golf Paul Marks says 152 homes have been completed on the total 329 stands in the estate.

“The estate is set for an exciting future that includes

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“We’re seeing an increased demand from investors and owneroccupiers for industrial property such as logistics, warehousing and distribution centres near major airports. The areas are promising strong capital gains and are showing signs of major future expansion.”

Nafte says NPG is auctioning a multi-unit industrial property in a

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he Western Cape building industry needs a complete rethink about its water usage, says PPC sales and marketing executive Rob Rein.

The Western Cape provincial government projections are that the dry spell will possibly last for between three and four years and that water tariffs will remain in force.

Head of Western Cape economic development and tourism Solly Fourie says construction is one of the top three sectors responsible for economic

growth and employs close to 230,000 people in the province. He urged the industry to reduce water usage as much as possible without affecting production.

A Construction Industry Development Board survey also says the first quarter of 2018 showed another period of strain in the building and civil engineering sectors.

GDP growth statistics from Stats SA showed a fourth consecutive decline in output in the construction sector. Output fell by 1.4% quarter on quarter (seasonally adjusted annual rate) in Q4 2017.

Discouragingly, this quarter’s survey results suggest that the pressure in both building and civil construction activity could persist.

PPC tips for water use on construction sites include the use of nonpotable water to mix concrete and mortar, the re-use of water for dust suppression, and building pits to wash vehicles.

The industry is being encouraged to manage water usage and to investigate alternative sources of water for construction such as ground water, basement water, treated effluent and run-off water.

restaurant upgrades. In addition, improvements are planned for the golf course, with the blessing of Jeff Lawrence, the president of Gary Player Golf Course Design.”

Peet Strauss, Pam Golding Properties development manager for Johannesburg, says Lightstone has identified Blair Atholl as the most expensive suburb in Gauteng.

Airport industrial nodes take off

irports in major cities are becoming centres of economic and industrial activity, giving rise to the “aerotropolis”, a new form of airport-centred commercial development.

Nexus Property Group (NPG) co-director Greg Nafte says investors are targeting airport industrial properties due to their proximity to key infrastructure and transport nodes.

Builders urged to save water

sought-after industrial node of Airport Industria, 2.5km from Cape Town International Airport. The auction is on May 8.

“The property has access from several main transport routes, offering investors the opportunity to acquire a building in a thriving industrial area with strong earning potential.”

The property is divided into four units.

Mall targets luxury fashion and art

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SE-listed property fund Attacq is celebrating the second anniversary of flagship development the Mall of Africa.

Visitors to Waterfall’s Mall of Africa increased by 9% year on year for December 2017. In February and March the mall recorded impressive visitor increases of 8% and 11% respectively.

Sales turnover showed

growth of 10.49% year on year for December 2017.

January turnover rose by 6%, February 12.84% and March 21%.

The mall is positioning itself as the home of African luxury. Partnering with African Fashion International led to Mall of Africa becoming the host of the Mercedes-Benz Fashion Week Johannesburg, while it

also houses the Julie Miller Investment Art Institute’s Africa Art Collective. “Mall of Africa is dedicated to providing a holistic retail experience that supports tenant ambitions and increases turnover,” says Attacq Chief Operating Officer Jackie van Niekerk.

“More than a shopping venue, it is an entertainment and lifestyle experience.”