Township development opportunities through malls
Watch our full interview with Joburg Today as we chat about Umphakathi Mall, Randfontein.
We focus on shopping centres across South Africa, and we’ve always been specialising in the township / rural areas, where we see a massive opportunity for the future of developments. Umphakathi started off as a piece of empty land, we found an opportunity to speak to the tenants and found that Boxer and Pick n Pay were interested in shop space, then found a developer that wanted to purchase this piece of land and we ended up working with the architects, the Quantity Surveyors, tenants, the municipality, taxi ranks as well as the local community to put the scheme together. “Umphakathi Mall” Actually means community.
Townships are very interesting, there is a lack of basic services, and there is often a lot of people, the population size is massive, and the people in these areas are underestimated, there is buying power, there is money being sent home, and what we find is there are massive opportunities waiting and all they need is someone to put the link together. Developing property as a whole has a lot of risks, we often work up to 3 years on a development before we know that it’s being built.
Our hearts behind it, is to understand the community need, we need to understand what brands and shops they are looking for and then we put the puzzle pieces together.
Click here to watch the full interview: Joburgtoday