The newly opened Mall of Africa in Midrand is on track to achieve its forecast annual turnover of R2.6 billion for 2016, as it’s first year of operation.
It opened it’s doors to public in April this year, attracting a visit of over 100 000 people on the first day.
Speaking to City Press; Marijke Arran – a Mall of Africa spokesperson, said: super-regional malls across South Africa had a monthly trading density of about R2 500 per square metre.
“Using this as a benchmark, we estimate that Mall of Africa will achieve a monthly trading density of R2 000 per square metre, based on the fact that we are a new mall and still have to establish trading patterns.
She added that in May, the mall’s first full month of trade, “Woolworths, Edgars, Game, DionWired and Checkers were some of the tenants that achieved and exceeded their set budgets for the opening”.
“Tenants that traded above expectations for the first full month of trade include Woolworths, Edgars, H&M, Zara, Cotton On, Checkers, Game, Truworths, Mr Price, Krispy Kreme and Starbucks, to name a few.
“The first month of trade saw in excess of 1.3 million feet frequenting the mall,” she said.
The foot count for the last three days of April was 285 637, and for May it was 1.364 million.
The foot count tracks the number of people who visit a mall each day, and there can be double counting within the space of a month.
For the three days of April and most of May, the Mall of Africa estimated that 700 000 unique people visited the mall.
The 130 000m2 mall, which is owned by Attacq (80%) and Atterbury (20%), cost R5 billion to build.
Mall of Africa is situated in Midrand’s Waterfall City, halfway between Johannesburg and Pretoria. It is located adjacent to the Allandale Road exit of the N1 Highway, the first free-flow intersection of its size in Africa.
SOURCE: City Press
