SA Migration International

News Articles

SA has 6th most shopping centres in the world

Source: Carin Smith | Fin24, 01/10/2015

Durban – Retail and retail property are among the most exciting and
the most challenging property categories at the moment, according to
Nomzamo Radebe, newly appointed president of the South African Council
of Shopping Centres (SACSC).

The council has almost 2 400 members and more than 1 600 delegates are
attending the 19th annual congress which takes place in Durban this
week.

"In order to survive we have to rethink retail and how to reinvent the
industry," she said at the opening of the congress. It is the largest
congress of its kind in the property industry in SA and in Africa,
according to Radebe and a platform to look at all the big issues in
the industry.

"Happy customers mean happy retailers and that leads to happy shopping
centres. That is why working with retailers is becoming more and more
important."

She pointed out that there are currently more than 2 000 shopping
centres in South Africa and the country has in fact the 6th highest
number of shopping centres in the world.

According to Robin Lockhart-Ross, managing executive of the property
finance division of Nedbank Corporate and Investment Banking, retail
property has been the best performing category in the property world
over the last decade – but also the most challenging.

Due to upheavals and confusion in the world regarding currencies,
stock markets and economic pressure, there has been talk of the
looming potential of an oversupply of retail space in SA,
Lockhart-Ross cautioned.

At the same time, he said, ratings agencies always ask him when banks
are going to stop funding shopping centres.

"I always answer that it will only happen when developers stop
developing shopping centres and retailers stop signing long term
leases," he said.
- Fin24

Search

Latest News

... Read more...
... Read more...
... Read more...
... Read more...

If you are visiting SA or already here on a visa, take this as a public-interest warning. In 2025, a quiet, but sharp, shift has taken hold inside parts of home affairs adjudication ranks: applications are being refused almost mechanically if they were not submitted at least 60 days before visa expiry.A wave of refusals repeating near-identical wording:The applicant did not submit his/her application no less than 60 days prior to the expiry date of his/her.

The rigid application of this rule, devoid of consideration for mitigating circumstances, raises serious concerns about the fairness and legality of such administrative decisions.

... Read more...

... Read more...
... Read more...
... Read more...
... Read more...
... Read more...