HYPROP FEATURE
products, a feeling that the World Cup would be a fantastic money spinner for the hotel business. The result is that there is over-supply in places like Johannesburg and Cape Town, with a lot of competition and rate cutting. Meantime, the South African’s love of big shopping malls is unabated. Big destination modern shopping facilities that have a good combination of convenience, aspirational retail and leisure facilities are successful 8
www.southafricamag.com
This has been boosted by the Attfund acquisition and the coming together of these two great portfolios and two great management teams
the world over. In South Africa they have become a social gathering place. People tend not to go to parks or for walks in the High Street, so the community centre almost is within your super regional shopping destination, and this is an added benefit for Hyprop.
PROACTIVE After a decade of extraordinary growth and development in the retail property sector, opportunities are now becoming fewer and fewer. City planners are focussing more on densification as opposed to suburban sprawl.