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South African shopping mall development shows strong growth

first_img17 October 2014 The new Mall of Africa is set to change the face of Johannesburg. (Photo: Atterbury) Despite the sluggish economic growth in South Africa, new shopping malls are rising in many parts of the country, with the latest addition being Newtown Junction in Johannesburg.The growth of shopping centres is on the upsurge and current figures show that there are 1 785 malls in South Africa, with 44% of the shopping centre space being in Gauteng, reports the Mail & Guardian.Located in the Newtown precinct (where the Market Theatre is located) the R1.4- billion Newtown Junction opened on 25 September and boasts 82 000m² of retail space. The mall was six years in the making and aims to play a major role in the rejuvenation of inner-city Johannesburg.The mall is targeted at the lower income groups and features retailers like Truworths, Foschini, Jet and Mr Price, and a Pick n Pay. It is expected that the mixed use character of the mall, which includes 39 000m² of office space, will later attract people in the higher income groups.Growth of South African mallsA report by Dirk Prinsloo, the managing director of Urban Studies, which conducts feasibility studies for shopping centres, shows that the number of malls in South Africa is far higher than its emerging market peers, some of which have four times its population, and even outdoes that of some developed economies. The report, Benchmarking the South African Shopping Centre Industry: International and Local Trends, was commissioned by the South African Council of Shopping Centres in 2013 reveals the following:In Brazil, with a population of 200-million, the number of shopping centres is near the 400 mark and, in Mexico (population 122-million), it is closer to 500.Portugal (population 10.5-million), New Zealand (population 4.5-million) and Argentina (population 41.5-million) have fewer than 200 centres each.Germany (population 80-million) has 600 and Australia (population 23-million) come closest to South Africa (population 54-million) by having slightly more than 1? 400 shopping centres.South Africa has about one million square metres of shopping centre space currently under planning. On the rest of the continent it is 900 000m².Prinsloo’s research shows that, last year, shopping centre sales per capita in South Africa amounted to R8 900 (up from R5 255 in 2007) with sales amounting to R392-billion (up from R245-billion in 2007).According to Statistics South Africa, total retail trade sales last year amounted to almost R698-billion, compared with R577-billion in 2008.The South African retail space market is so developed that, according to an AT Kearney 2012 Global Retail Development Index, it can no longer be listed as one of “the 30 developing countries’ – the report concluded that the window of growth had closed.Mall development continues to riseConcerns about shopping centre space reaching saturation have abounded for decades but the growth continues.“We are seeing more and more shopping centres in rural areas and towns – and in Johannesburg it is not stopping,’ said Elaine Wilson, the divisional director of research at the commercial property management company Broll.Urban Studies is conducting new feasibility studies on shopping centres. “We are busy here and that is indicating two things,’ Prinsloo said. “People are dusting off old plans that were put on the shelves in 2008 when the recession started . and there are other new opportunities where people move into the rural areas.’The driver of retail space growth, experts agree, is the emerging middle class and urbanisation.Growth in urbanisationAccording to his research, South Africa is experiencing “unprecedented growth in urbanisation’, and is now 63% urbanised. That is expected to reach 68% by 2030, warranting up to two million square metres of additional retail floor space by 2025.“As far as your convenience and neighbourhood centres are concerned, in some areas there is a certain level of saturation,’ Prinsloo said. “But where you see most of your growth is in your regional centres and super-regional centres.’Liberty Properties manages a handful of major malls, including Eastgate in Johannesburg, the Midlands Mall in KwaZulu-Natal, the Promenade in Cape Town and one of the largest shopping centres on the continent, Sandton City.Liberty Properties managing director, Maurice Mdlolo, said: “Most international retailers who want to come to the continent have identified South Africa as the gateway and Sandton as the first port of call.“There is growth which is happening. In our observation, this growth is very much driven by the retailers. It’s very much a retailers’ market at the moment and they can dictate better rentals and expand into some of the spaces,’ said Mdlolo.New Mall of Africa MallMall development in Johannesburg continues. Property development company Atterbury is currently developing a 120 000m² Mall of Africa for R3.5 billion – South Africa’s largest single-phase shopping mall development to date – financed by Nedbank Corporate Property Finance. The new super-regional Mall of Africa will be the heart of the ambitious Waterfall, a city superbly situated between Johannesburg and Pretoria.The two-level mall forms the hub of Waterfall Business Estate, a 1.6 million square metre mixed-use commercial development. Commercial property commentators punt the development as the most ambitious commercial development yet undertaken in southern Africa.SAinfo reporterlast_img read more

American Agri-Women Partners with Ohio Corn & Wheat on ‘Drive Across America’

first_imgShare Facebook Twitter Google + LinkedIn Pinterest American Agri-Women, the nation’s largest coalition of farm, ranch and agri-business women, is celebrating 40 years of advocating for agriculture with its “Drive Across America,” a five-month educational and advocacy tour. Ohio Corn & Wheat, a market development, education and political advocacy group for the state’s grain farmers, is a sponsor of the Drive.Ohio Corn & Wheat works to create opportunities for long-term Ohio corn and small grain grower profitability through two checkoff based organizations and one legislative entity, Ohio Corn & Wheat Growers Association. The Ohio Corn Checkoff and Ohio Small Grains Checkoff work to develop and expand markets, fund research, and provide education about corn and wheat, respectively. Working with its national counterparts, the National Corn Growers Assn. and the National Assn. of Wheat Growers, the state group works to advocate for supportive public policy and engage with consumer audiences at a grassroots level to ensure a climate for grower success.“Grassroots advocacy is among the best ways to influence change because it focuses on personal connections and shared experiences. We appreciate the work of Ohio Corn & Wheat in influencing policies that promote the future of agriculture. We are so pleased to have them as a sponsor of our Drive Across America,” says AAW President Sue McCrum.“Ohio Corn & Wheat is proud to support the American Agri-Women as they continue to advocate for agriculture and help lead our nation’s agricultural industry,” said John Hoffman, chairman of the Ohio Small Grains Checkoff. “We congratulate them on their 40th anniversary and look forward to their visit to Ohio for this weekend’s Preble County Pork Festival.”McCrum and other AAW leaders and members are driving in a specially wrapped pick-up truck, participating in educational, network and advocacy events hosted by AAW’s more than 50 affiliates. The Drive will finish at the 2015 annual convention in Portland, Maine.last_img read more

Two bronze medals for PH swimming star Alkhaldi

first_imgLATEST STORIES LOOK: Venues for 2019 SEA Games MOST READ Elite fan playoff hopes with 2OT win LIST: Class, gov’t work suspensions during 30th SEA Games PH billiards team upbeat about gold medal chances in SEA Games PLAY LIST 03:07PH billiards team upbeat about gold medal chances in SEA Games05:25PH boxing team determined to deliver gold medals for PH00:45Onyok Velasco see bright future for PH boxing in Olympics00:50Trending Articles01:35Panelo suggests discounted SEA Games tickets for students02:49World-class track facilities installed at NCC for SEA Games03:04Filipino athletes share their expectations for 2019 SEA Games02:25PH women’s volleyball team motivated to deliver in front of hometown crowd01:27Filipino athletes get grand send-off ahead of SEA Games Read Next Alkhaldi, 24, fought hard in the thrilling dash to the final 10 meters of her favorite 100m free but Ting Wen Quah of Singapore edged her for a record-setting time.Quah clocked 55.76 seconds erasing the 55.93 standard of the event.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThi An Vien Nguyen of Vietnam was second with a time that also surpassed the record, coming in at 55.70 seconds.The two-time Olympian, who is finishing business administration in marketing and management at University of Hawaii, finished in 55.90. SEA Games in Calabarzon safe, secure – Solcom chief WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding UPLB exempted from SEA Games class suspension Catriona Gray spends Thanksgiving by preparing meals for people with illnesses View comments Don’t miss out on the latest news and information. SEA Games: PH’s Alisson Perticheto tops ice skating short program KUALA LUMPUR—Jasmine Alkhaldi, the country’s brightest hope in swimming, could only come up with two bronze medals Wednesday night in the 2017 Southeast Asian Games.She finished third in women’s 100-meter freestyle, before coming up with the same performance in 50m butterfly event.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMClast_img read more

10 months ago​Arsenal midfielder Guendouzi: I made my impression in preseason

first_img​Arsenal midfielder Guendouzi: I made my impression in preseasonby Freddie Taylor10 months agoSend to a friendShare the loveMatteo Guendouzi admits that he took the chances that were given to him in preseason.The youngster arrived from Lorient in the summer, but no one expected that he would make an instant impact on the first team.The 19-year-old has been a key member of the midfield under new boss Unai Emery.And he is happy that he has settled in so quickly.He said in an interview with Sky Sports: “Although it doesn’t feel like I had time to adapt, I did. “The key was when we went on pre-season to Singapore we played friendly matches and I was able to show my qualities to the staff and my team-mates, that time was really precious because when we came back here it was much easier to adapt to the team and the staff.”Everybody has helped me to integrate and be part of the club and for me to play without pressure, which I love to do. Because I started and played well from the beginning that helped me and my confidence for the games that followed.” About the authorFreddie TaylorShare the loveHave your saylast_img read more

5-Star C Diamond Stone, Who Got Bashed By Wisconsin Fans For Picking Maryland, Seems Pretty Happy Right Now

first_imgIn late March, five-star center Diamond Stone (Milwaukee, Wisc.) committed to Maryland over home-state program Wisconsin. This, obviously, did not please Badgers’ fans. Stone took a beating from various UW faithful on Twitter, message boards, etc. Wisconsin lost to Duke, 68-63, in the national championship game Monday night. This seems to please the future Terrapins’ big man.  — All Eyes On Me (@Diamond_Stone33) April 7, 2015I LOVE — All Eyes On Me (@Diamond_Stone33) April 7, 2015They Do A lot Of Talking…— All Eyes On Me (@Diamond_Stone33) April 7, 2015Stone will get his chance to quiet the Wisconsin fans next season. Maryland is expected to be a top-five team in 2015-16.last_img read more

Business Climate Conducive to Investment

first_imgStory Highlights Governor of the Bank of Jamaica, Brian Wynter, says that while challenges remain, the business climate in Jamaica is conducive to attracting increased private sector investment.“We need all our entrepreneurs to see it, understand it, and believe it. We need for them to believe it will last and to also have the faith to start investing or to invest even more,” Mr. Wynter said.He was addressing journalists and members of the business community during a media briefing held at the Hilton Rose Hall Hotel, Montego Bay, on May 19.He also encouraged the private sector, notably those engaged in tourism, exports and competitive import substitution, to “create more jobs and more sustainable growth.”Mr. Wynter said he fully expects the Montego Bay business community to grasp and appreciate the moment, considering that the city, once the poorest part of the island, was built on faith.He cited successful risk takers such as Jamaican hotelier, Gordon “Butch” Stewart and Entrepreneur, Tony Hart, who was responsible for starting the Montego Freeport industrial hub in 1967.“When American Oscar Hammerstein wrote the famous words…for the iconic musical, the Sound of Music in 1959, he was staying at his Jamaican property Highland House, right here in Montego Bay. Now, in 2017, the hills are reverberating with the rhythms of economic possibilities, because Jamaica is no longer a long shot; it is now the smart money,” Mr. Wynter stated.In the 2016 Doing Business Report of the World Bank, Jamaica was named among the 10 most improved economies for doing business in the world.The country’s ranking moved from 71st to 64th in the world, placing Jamaica as first in the Caribbean in respect of the ease of doing business, and sixth in Latin America and the Caribbean. He cited successful risk takers such as Jamaican hotelier, Gordon ‘Butch’ Stewart and Entrepreneur, Tony Hart, who was responsible for starting the Montego Freeport industrial hub in 1967. Governor of the Bank of Jamaica Brian Wynter, says that while challenges remain, the business climate in Jamaica is conducive to attracting increased private sector investment. “We need all our entrepreneurs to see it, understand it, and believe it. We need for them to believe it will last and to also have the faith to start investing or to invest even more,” Mr. Wynter said.last_img read more

AUDITIONS for A 12Week Theatre Conservatory

first_imgAdvertisement Facebook Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement APPLY ONLINE – www.improvyouracting.com/theatreconservatory Login/Register With: Improv Your Acting is currently seeking 12 strong, dedicated actors to join our 12-Week Theatre Conservatory: an ongoing intensive exploration for the commited, hard-working actor. Explore classical and contemporary Theatre through rigorous scene-study, challenging Meisner technique, foundational voice work and organic improv. The Conservatory will push you out of your comfort zone and into the danger zone as you build a solid core, discipline and skillset as an actor. You will then perform a showcase for industry guests! “The IYA Conservatory gave me exactly what I was looking for – a home to build my craft, a supportive community for the journey and the confidence to continue to do so. It really has been life changing in lighting sparks of inspiration and while I am sad for it to come to an end, I know IYA has given me a platform for a beautiful beginning.” – Emma Strong, Conservatory Graduate  Twitterlast_img read more

KEANU REEVES REVEALS WINONA RYDER REFERS TO HIM AS HUSBAND

first_imgKeanu Reeves and Winona Ryder (Getty) “We actually got married in ‘Dracula’. No, I swear to god I think we’re married in real life,” Ryder told both Reeves and EW. “In that scene, Francis [Ford Coppola] used a real Romanian priest,” she explained. “We shot the master and he did the whole thing. So I think we’re married.” Advertisement Advertisement There may be no better example of art imitating life.Winona Ryder and Keanu Reeves star in the romantic comedy “Destination Wedding”, but this is not the first time the two have depicted love on screen.The “Stranger Things” actress and Canadian “The Matrix” star played opposite each other in 1992’s “Bram Stoker’s Dracula”. Reflecting on their past work together, Ryder made a shocking and somewhat hilarious revelation. Login/Register With:center_img LEAVE A REPLY Cancel replyLog in to leave a comment Twitter Facebook Advertisementlast_img read more

Ancelotti hails Atalantas performance

first_imgNapoli boss Carlo Ancelotti concedes that Atalanta forced them to change their gameplay to a defensive approach in a keenly contested 2-1 win.Fabian Ruiz put them in front within 76 seconds, cancelled out after the restart by Duvan Zapata, but Arkadiusz Milik came off the bench to score the winner late on.“We knew Atalanta play very dynamic and aggressive football, so it was tough. We played a slightly different game than we had expected, as we took the lead so early and allowed Atalanta to come forward. They pushed hard and deserved the equaliser, but then a different match opened up.Serie A, Gian Piero GasperiniGasperini reveals why he rejected Inter Manuel R. Medina – September 14, 2019 Atalanta manager, Gian Piero Gasperini, has revealed why he rejected Internazionale Milan’s job proposal over the summer transfer window.“Probably the energy they spent to get back into it left them fatigued and we had more left in the tank to win,” the Coach told Football Italia.“I love attacking football, but it’s not as if I dislike defending! We attack when we need to and defend when we need to. It wasn’t something we were accustomed to, defending so much here, but Atalanta pushed us into that attitude with their pressure.“Everyone wants champagne football, but there are the opponents to deal with too and this performance was a show of maturity. I also want to point out the atmosphere was wonderful, it was a festival of sport for everyone and the Atalanta fans sent a wonderful signal as to what games should be like, both on and off the field.”last_img read more

Nintendo Switch sales hit nearly 37 million but companys profits are down

first_img Review • Nintendo Switch review: Pure fun on a big-screen TV or on the go Nintendo Switch sold 36.87 million units by the end of June. Óscar Gutiérrez/CNET Even though the Nintendo Switch hit 36.87 million units sold by the end of June, Nintendo on Tuesday reported a 10% decline in its quarterly profits. Despite revenue of 172 billion yen ($1.6 billion), the Japanese company said “foreign exchange losses of 12 billion yen and other factors” resulted in 16.6 billion yen profit for the quarter.In the same quarter last year, Nintendo’s operating profit was 30.5 billion yen, and its revenue was 168 billion yen, so its profit fell 45.7% year over year. See It Now playing: Watch this: However, strong Switch sales (2.1 million for the quarter) are bringing that device closer to the SNES, which sold 49.1 million in total, and Super Mario Maker 2 managed to sell 2.42 million copies in three days — it came out June 28.Nintendo’s aiming to sell 18 million Switches for the year ending March 2020, with the cheaper Switch Lite revision coming out Sept. 20. It’s no doubt hoping big releases like Marvel Ultimate Alliance 3, Fire Emblem: Three Houses and Pokemon Sword and Shield will bolster sales. Walmart See it Share your voice Post a comment 29 Photos CNET may get a commission from retail offers. How To • How to transfer your Nintendo Switch account to a new Switch V2 Amazon $299 Mentioned Above Nintendo Switch (Gray) $299 See It News • Are you a Nintendo Switch docker or hander? $289 Nintendo Switch Lite first impressions Nintendo Switch $299 8:34 Preview • Nintendo Switch: All the latest details Nintendo Consoles Gaming The 29 best games on the Nintendo Switch 0 Tags Best Buy See Itlast_img read more