/ 17 May 2013

Retail and property thrive on proliferation of mall rats

Retail And Property Thrive On Proliferation Of Mall Rats

More shopping centres are being built annually than ever before to meet the demand of retailers for more space and to capitalise on the good returns this kind of property continues to deliver.

The largest cities, like Johannesburg Cape Town, eThekwini and Tshwane, have the highest population growth and the highest concentration of malls.

What is also assisting new property centre development is the willingness of local authorities to make land available, although developers can face rezoning and clearance delays.

A Gauteng quarterly review released last year said the province houses 45% of the shopping centres in the country. The province is also home to four of the eight existing super-regional centres in the country.

According to a Deloitte report released in 2012, growth opportunities for the world's top-250 largest retailers, which include the Spar Group and Shoprite Holdings, are being driven by demand for global expansion.