Mall of Africa trades above expectations in year one – Bizcommunity

This article first appeared on Bizcommunity on May 2 2017 - Mall of Africa trades above expectations in year one – Bizcommunity. View the original article.

The Mall of Africa, the Attacq flagship shopping mall, celebrated its first birthday on 28 April 2017. Since opening day, it has posted sales of R3.4 billion for the 11 months of trading to March 2017 and has had over 13 million people in the same period.

Acknowledging its success at a media conference, Morné Wilken, CEO of Attacq explained that the company regards the Mall of Africa as one of its most valuable assets in its property portfolio. “This mall is the realisation of a very significant vision and a long-term business journey. We identified a gap in the market to develop something extraordinary in the Waterfall area in the centre of Gauteng, the financial hub of South Africa.

“Given the great location, we wanted to create the benchmark mall for Africa and therefore we aptly named it Mall of Africa. Being conveniently located in Waterfall on the N1 at the Allandale off-ramp, we created a unique Gauteng destination experience for local shoppers, visitors and tourists alike.

“It is proving to be an iconic super-regional shopping and the destination it was intended to be, serving a large and growing customer base as part of Waterfall City, the CBD of Gauteng’s newest city in the making.

“There are several brands that have made their South African debut in Mall of Africa. These include The Kooples and Zara Home amongst others. There are also several new concept and flagship stores in the mall, such as Woolworths, iStore, Cotton On and Mr Price Weekend. The most recent stores to open are Huawei and Swatch, with Tasha’s opening in July 2017.

“These top brands recognise that Waterfall is a premium destination, with the right demographic of shopper and is an exciting area to invest in. Waterfall City where the mall is located is attractive in terms of both location and the demographics of the surrounding area. It is the new corporate headquarters consolidation destination for businesses such as PwC and the newly secured Deloitte deal. Attacq views the mall as the tipping point for putting Waterfall City on the map.

Wilken concludes, “We are committed to the future of Gauteng as the economic hub of the continent and to adding value to the future of South Africa – we will be part of the solution for economic prosperity in the region.”