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When you think of South Africa’s most iconic shopping destinations, Mall of Africa undoubtedly comes to mind. But have you ever wondered, who is the owner of Mall of Africa?
The answer lies with Attacq Limited, a leading Real Estate Investment Trust (REIT) that has transformed this mall into a retail powerhouse. Let’s dive deep into the ownership, the vision behind the mall, and why it’s a benchmark for success in the industry.
Who Is the Owner of Mall of Africa?
The owner of Mall of Africa is Attacq Limited, a Johannesburg-based REIT known for its innovative and sustainable property developments. Attacq didn’t just build a mall—they created a landmark. Since its opening in 2016, Mall of Africa has become a symbol of modern retail, entertainment, and lifestyle in South Africa.
Attacq’s portfolio includes some of the country’s most prominent properties, but Mall of Africa stands out as its crown jewel. In 2024, Attacq acquired an additional 20% stake in the mall, further solidifying its commitment to this flagship asset. This move underscores the company’s confidence in the mall’s continued growth and success.
The Vision Behind Mall of Africa
The owner of Mall of Africa, Attacq Limited, envisioned a space that would redefine shopping experiences in South Africa. Located in Waterfall City, Midrand, the mall is strategically positioned between Johannesburg and Pretoria, making it accessible to millions. With over 130,000 square meters of retail space, it’s not just a mall—it’s a lifestyle hub.
Attacq’s commitment to innovation and sustainability has set Mall of Africa apart. For instance, the mall boasts the largest rooftop solar PV system in the southern hemisphere, generating 4.6 MW of power. This initiative not only reduces the mall’s carbon footprint but also sets a new standard for sustainable retail developments.
Why Mall of Africa Stands Out
Mall of Africa isn’t just another shopping center. It’s a destination that combines retail, entertainment, and culture. Here’s what makes it unique:
- Architectural Brilliance: Inspired by Africa’s geological features, the mall’s design includes themed courts like the Crystal Court (Southern Africa’s mineral wealth), the Great Lakes Court (East Africa’s lakes), and the Desert Court (North Africa’s Sahara).
- Flagship Stores: Home to international brands like H&M, Zara, and Starbucks, the mall offers a mix of global and local retail experiences.
- Sustainability: The rooftop solar PV system is a game-changer, reducing the mall’s reliance on traditional energy sources.
- Community Engagement: From hosting art installations to supporting local events, Mall of Africa is deeply embedded in the community.
| Alternative names | MoA |
|---|---|
| General Information | |
| Status | Completed |
| Type | Shopping Mall |
| Architectural Style | Africa’s Geology |
| Location | Waterfall City, Midrand, Gauteng, South Africa |
| Address | Lone Creek Cres & Magwa Crescent, Waterfall City, Gauteng |
| Coordinates | 26°00′53.3″S 28°06′23.5″E |
| Construction Started | 28 October 2012 (12 years ago) |
| Opened | 28 April 2016 (8 years ago) |
| Cost | R3.5 Billion |
| Owner | Attacq Ltd |
The Economic Impact of Mall of Africa
Since its opening, Mall of Africa has had a profound impact on the local economy. It has created thousands of jobs, both directly and indirectly, and has become a catalyst for development in Waterfall City. The mall’s ability to attract international brands has also positioned South Africa as a key player in the global retail market.
In 2024, Attacq reported a 7% increase in revenue, with Mall of Africa playing a significant role in this growth. The mall’s occupancy rate stands at an impressive 92.8%, and collections remain strong at 100.2%. These figures underscore the mall’s resilience and appeal, even in challenging economic times.
Who Are the Key Players Behind Attacq Limited?
To fully understand who is the owner of Mall of Africa, we need to look at the key players behind Attacq Limited. The company’s leadership team has been instrumental in driving its success.
- Jacqueline van Niekerk: As the CEO, she has led Attacq’s strategic vision, focusing on sustainable growth and innovation.
- Rajesh Nana: The CFO, responsible for the company’s financial health and strategic investments.
- Peters de Villiers: The Chief Investment Officer, overseeing key acquisitions like the additional 20% stake in Mall of Africa.
Attacq’s shareholders also play a crucial role. Here’s a breakdown of the major shareholders:
| Shareholder | Percentage Ownership |
|---|---|
| Coronation Asset Management (Pty) Ltd. | 19.98% |
| Public Investment Corporation (SOC) Ltd. | 17.32% |
| Attacq Limited | 6.22% |
| Old Mutual Investment Group (Pty) Ltd. | 1.80% |
| PSG Asset Management (Pty) Ltd. | 1.75% |
This table highlights the key players behind Attacq Limited, the owner of Mall of Africa. Their collective investment has driven the mall’s growth and success.
Lessons from the Success of Mall of Africa
For business owners and investors, the story of Mall of Africa offers valuable insights:
- Location Matters: The mall’s strategic location between Johannesburg and Pretoria ensures high foot traffic and accessibility.
- Sustainability is Key: Investing in green initiatives not only reduces costs but also enhances brand reputation.
- Diversify Offerings: By combining retail, entertainment, and dining, Mall of Africa caters to a wide audience.
- Community Engagement: Building strong ties with the local community fosters loyalty and long-term success.
The Future of Mall of Africa
The owner of Mall of Africa, Attacq Limited, is not resting on its laurels. Plans for further expansion and innovation are already underway. With Waterfall City continuing to grow, the mall is poised to remain a central hub for retail and lifestyle in South Africa.
Attacq’s commitment to sustainability and community engagement ensures that Mall of Africa will continue to thrive. As the retail landscape evolves, the mall’s ability to adapt and innovate will be key to its ongoing success.
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Conclusion
So, who is the owner of Mall of Africa? Attacq Limited has not only built a shopping destination but a legacy. Through visionary leadership, sustainable practices, and a deep understanding of their audience, they’ve turned Mall of Africa into a symbol of excellence. Whether you’re a shopper, investor, or business owner, there’s much to learn from their success.
As Attacq Limited continues to drive growth and innovation, Mall of Africa will remain a beacon of retail and lifestyle in South Africa.
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