The owners of Mall of Africa have built more than just a shopping destination—they’ve created a landmark. Since its opening in 2016, Mall of Africa has become a symbol of modern retail, entertainment, and lifestyle in South Africa. But who exactly are the masterminds behind this iconic development? Let’s explore the ownership, the mall’s impact, and what makes it a standout in the retail landscape.
The Vision Behind Mall of Africa
The owners of Mall of Africa, led by 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 Limited, a leading Real Estate Investment Trust (REIT), has been instrumental in the mall’s development and success. Their 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, a testament to its forward-thinking approach.
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 generates 4.6 MW of power, reducing the mall’s carbon footprint significantly.
- 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 |
Who Owns Mall of Africa?
The primary owners of Mall of Africa are Attacq Limited, a Johannesburg-based REIT. Attacq’s portfolio includes some of South Africa’s most prominent properties, but Mall of Africa remains its crown jewel. In 2024, Attacq acquired an additional 20% stake in the mall, further solidifying its commitment to this flagship asset.
Here’s a breakdown of Attacq’s 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 owners of Mall of Africa. Their collective investment has driven the mall’s growth and success.
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.
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
The owners of Mall of Africa are not resting on their 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
The owners of Mall of Africa have created more than just a shopping center—they’ve built 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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