Liberty Properties COO Maurice Mdlolo says that the company is on schedule to complete the first phase of the Sandton City shopping centre in November next year.

The R1,77-billion first-phase Sandton City shopping centre extension will change the city skyline. The centre’s entire retail space, including the extension, will total 143 690 m2 on completion of the first phase, which will take the complex, which includes the hotel and office component, to a massive 215 000 m2.

Undertaken by Liberty Properties on behalf of the property owners, Liberty Group (75%) and Pareto (25%), this is the first phase of a broader vision for the repositioning of the centre. Liberty Properties’ master vision is to ensure the Sandton City complex evolves in response to global design trends, its surroundings, its consumers and its retailers.

The mega shopping centre expansion and refurbishment project, which involves interior refurbishments and a total of 30 000 m2 of new retail space, is set to further fortify the centre’s standing as one of Africa’s leading retail icons.

“We are on schedule and within budget. On the rental side, we managed to achieve more than we expected. It is driven by demand from tenants. We have two to three options for possible tenants for each box, which commands better rentals. On the income side, we are above our expectations,” Mdlolo told Engineering News during a visit to the Sandton City shopping centre, last month.

He added that the mall refurbishment started before the 2010 FIFA World Cup and stopped during the spectacular.

“We have done 90% of the work and the balance will be completed within the planned timeframes.”
The external expansion is moving along swiftly. There are six tower cranes and over 1 000 personnel on the construction site daily. To date, over 5 100 m2 of brickwork and 10 t of structural steelwork have been completed. In total, 255 500 work hours were completed in July.

“As the face of the Sandton central business district changes with the addition of developments, such as the Gautrain, so should that of its leading retail development. With a fresh new contemporary design and an unmatched tenant mix to follow, Sandton City looks to maintain its stature as Africa’s world-class, unrivalled shopping and rendezvous destination,” states, Liberty Properties Sandton City region GM Julie Hillary.
She adds that the development serves to expand and improve the centre to strengthen its leading position in the retail sector and to meet the ever-growing needs of its market.

Spanish fashion brand Zara has signed up to take a 2 100-m2 store in the new extension. This store will bring the company’s full women’s, men’s and children’s range to South Africa.

Other confirmed retailers include Trenery & Country Road, which has taken up space totalling 1 100 m2, Incredible Connection, which has taken up 1 000 m2 and Foschini, Truworths and Mr Price.

Mdlolo adds that the focus of Liberty Proper- ties is to develop its business through manag- ing developments and property management for third parties.

These developments currently include Zambia and Swaziland, with further third-party property management deals in Africa being the long-term strategy for the business.

“This will be achieved through the incorporation of [the company’s] experience in property development, and its knowledge and expertise in green building leasing and property management,” concluded Mdlolo.

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