Fourways Mall is more than just a shopping center; it’s a retail and entertainment empire that has become a landmark in South Africa. As the biggest mall in South Africa, it stands as a testament to modern retail, offering an unparalleled shopping experience.
However, with its immense size and popularity come significant challenges. Let’s explore the evolution of Fourways Mall, its features, the hurdles it faces, and its plans for the future.
The Evolution of Fourways Mall
Fourways Mall first opened its doors in 1999 as a modest shopping center in Johannesburg. Over the years, it has undergone a remarkable transformation, culminating in a massive expansion completed in September 2019. This redevelopment increased its gross lettable area (GLA) to 178,202 square meters, solidifying its position as the biggest mall in South Africa.
The expansion was a two-phase project:
- Phase 1: Focused on upgrading existing areas, improving infrastructure, and enhancing the overall shopper experience.
- Phase 2: Added new spaces, including office areas, additional parking, and entertainment facilities.
Today, Fourways Mall is not just a shopping destination but an integrated retail and entertainment hub, offering everything from high-end fashion to family-friendly activities.
Features That Make Fourways Mall a Retail Giant
Stores and Brands
With over 400 stores, Fourways Mall is a shopper’s paradise. It features major anchors like Pick ‘n Pay, Checkers Hyper, Woolworths, and Game. Fashion enthusiasts can explore international brands such as H&M, Zara, and Truworths, while tech lovers can visit Incredible Connection and BT Games. Specialty stores like Hamleys, The Body Shop, and Leroy Merlin cater to niche markets, ensuring there’s something for everyone.
Parking Facilities
Parking is never an issue at Fourways Mall. With 8,000 parking bays, including underground parking, visitors can easily find a spot. The mall also offers direct access via flyover bridges from William Nicol Drive and Witkoppen Road, ensuring seamless entry and exit.
Entertainment Options
Fourways Mall is more than just shopping; it’s an entertainment hub. Key attractions include:
- Ster-Kinekor cinemas for movie lovers.
- Bounce trampoline park and an outdoor mini-golf course for families.
- KidZania, an interactive city built for children.
- Go-karting for thrill-seekers.
- Seasonal events like the Stranger Things Experience, which draw crowds from across the region.
Dining and Restaurants
Foodies will find plenty to love at Fourways Mall, with over 30 dining options ranging from fast food to fine dining. Popular spots include Starbucks, Nando’s, and Woolworths Café. For international cuisine, visitors can try Simply Asia for Asian flavors or Col’Cacchio for Italian dishes. The two-level food court is a favorite for quick bites, offering everything from burgers to sushi.
Services and Amenities
Fourways Mall is a one-stop destination for services. Major banks like FNB, Nedbank, and Standard Bank have branches here. Medical services are available at Dis-Chem, while Clicks offers pharmacy and beauty products. The mall also provides clean restrooms, baby-changing facilities, and wheelchair-friendly access.
Comparing the Biggest Malls
The Biggest Mall in South Africa vs. The Biggest Mall in Africa
Fourways Mall, as the biggest mall in South Africa, boasts a GLA of 178,202 square meters and over 400 stores. However, it is not the largest mall on the African continent.
That title belongs to Morocco Mall in Casablanca, Morocco, which spans an impressive 590,000 square meters of floor space. Opened on December 1, 2011, Morocco Mall was designed by Davide Padoa of Design International, a global architecture firm based in London.
Morocco Mall is not just a shopping destination; it’s a landmark of luxury and innovation. The mall features a massive 1,000,000-liter aquarium called Aquadream, which houses over 40 species of fish. Visitors can take a ride through the center of the cylindrical aquarium for a 360-degree view of marine life or even go scuba diving with a professional instructor.
While Fourways Mall offers a more extensive range of stores and entertainment options tailored to the South African market, Morocco Mall stands out as a symbol of luxury and grandeur on the African continent.
The Biggest Mall in South Africa vs. The Biggest Mall in the World
When compared to the largest mall in the world, Fourways Mall pales in size but still holds its own in terms of offerings.
The Dubai Mall in the UAE, with a GLA of over 1.1 million square meters, is the largest globally. It features over 1,200 stores, an aquarium, an ice rink, and even a dinosaur skeleton exhibit. While Fourways Mall cannot match the sheer scale of the Dubai Mall, it provides a comparable mix of retail, dining, and entertainment, tailored to the South African market.
Mall of Africa versus Fourways Mall
For South African investors looking to break into the property sector or expand their portfolios, two shopping malls often come up for comparison: Fourways Mall, the country’s biggest mall, and Mall of Africa, the busiest mall.
A Daily Investor analysis revealed that, despite having a larger space, Fourways Mall’s high vacancy rates weigh heavily on its performance, making Mall of Africa a more attractive investment.
Key Metrics Comparison
| Measure | Fourways Mall | Mall of Africa |
|---|---|---|
| Trading Density | R3,699/m² | R4,244/m² |
| Valuation | R8.03 billion | R5.79 billion |
| Gross Lettable Area | 178,202 m² | 131,038 m² |
| Value per m² | R45,275/m² | R44,777/m² |
| Vacancy Rate | 15.90% | 4.38% |
| Number of Stores | 437 | 304 |
Fourways Mall’s Challenges
Fourways Mall, despite its size, faces significant challenges:
- High Vacancy Rate: At 15.90%, the vacancy rate is much higher than Mall of Africa’s 4.38%.
- Declining Rent: Net rent per square meter has dropped from R298 in 2020 to R262 in 2023.
- Financial Strain: The mall’s co-owner, Accelerate Property Fund, has seen its share price decline by almost 25% over the past six months.
To address these issues, Accelerate has implemented a turnaround strategy, including:
- Raising R200 million through a rights offer to pay off debt and reposition finances.
- Partnering with Flanagan & Gerard as strategic asset managers to improve signage, introduce new tenants, and enhance security.
- Optimizing traffic flow and revitalizing the surrounding area.
Mall of Africa’s Success
Mall of Africa, owned by Attacq, has outperformed Fourways Mall in key areas:
- Higher Trading Density: At R4,244/m², it generates more revenue per square meter than Fourways Mall.
- Lower Vacancy Rate: At 4.38%, it is far more occupied than Fourways Mall.
- Strong Financial Performance: Attacq reported a 91.6% increase in turnover rental and a 71.4% increase in third-party income in its latest annual report.
Investment Outlook
While Fourways Mall has a larger space and higher valuation, its high vacancy rates and declining rent make it a riskier investment compared to Mall of Africa. For investors, Mall of Africa’s lower vacancy rate and higher trading density make it a more attractive option.
Challenges Faced by Fourways Mall
Despite its impressive size and offerings, Fourways Mall has faced significant challenges, particularly in recent years.
Impact of the COVID-19 Pandemic
The pandemic hit the retail sector hard, and Fourways Mall was no exception. By 2023, the mall’s vacancy rate had risen to 17%, with 15,109 square meters of space standing empty. Net rent per square meter also declined from R298 in 2020 to R262 in 2023, putting financial pressure on its owners, Accelerate Property Fund and Azrapart.
Rising Operational Costs
Increased operational costs, coupled with declining rental income, have further strained the mall’s finances. Maintaining a facility of this size requires significant investment in security, infrastructure, and utilities.
Turnaround Strategy: Innovating for the Future
To address these challenges, the owners have implemented a comprehensive turnaround strategy aimed at revitalizing the mall and enhancing the shopper experience. Key initiatives include:
- Improving the Shopper Experience:
- Enhanced signage, better lighting, and optimized traffic flow to make navigation easier.
- Introduction of smart parking systems and digital wayfinding.
- Introducing New Tenants:
- Over 50 new leases have been signed, including popular brands like Planet Fitness Gym and Skechers.
- Adding Entertainment Options:
- New attractions like padel courts and a running track are drawing in crowds.
- Upgrading Infrastructure:
- Backup power solutions to ensure uninterrupted operations during load-shedding.
- Improved security measures, including CCTV surveillance and regular patrols.
These efforts are already showing results, with 95 lease renewals and 52 new leases signed, covering a significant portion of the mall’s GLA.
Sustainability and Community Engagement
Fourways Mall is committed to sustainability and community involvement.
Sustainability Initiatives
- Implementation of energy-efficient lighting and water-saving measures.
- A 6 MW rooftop solar plant is in the works to reduce the mall’s carbon footprint.
- Waste recycling programs to promote environmental responsibility.
Community Engagement
Fourways Mall actively supports local events, charity initiatives, and social responsibility programs. From food drives to educational workshops, the mall is more than just a shopping destination – it’s a community partner.
Awards and Recognition
Fourways Mall has received numerous accolades for its design, sustainability efforts, and community engagement. These awards highlight the mall’s commitment to excellence and innovation in the retail sector.
Future Developments
The future looks bright for Fourways Mall. Plans are underway to further enhance the shopper experience, including:
- New entertainment options and additional parking.
- Integration of advanced technology, such as smart parking systems and digital wayfinding.
- Continued focus on sustainability and community engagement.
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Conclusion
Fourways Mall is more than just the biggest mall in South Africa; it’s a retail and entertainment powerhouse that has become a symbol of modern retail.
Despite facing challenges, the mall continues to innovate and adapt, ensuring it remains a top destination for shoppers and families alike. With its vast array of stores, dining options, and entertainment facilities, Fourways Mall offers something for everyone, making it a must-visit destination in Johannesburg.
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