When it comes to iconic shopping destinations in South Africa, the Mall of Africa stands out as a premier retail and lifestyle hub. But have you ever wondered, who owns Mall of Africa? The answer lies with Attacq Limited, a leading Real Estate Investment Trust (REIT) that has solidified its position as the sole owner of this sprawling retail masterpiece. Let’s explore the story behind its ownership, its significance, and what it means for the future of retail in South Africa.
The Mall of Africa: A Retail Powerhouse
The Mall of Africa is not just a shopping center; it’s a landmark. Opened in 2016, it is South Africa’s largest single-phase mall development, boasting over 130,000 square meters of retail space. With more than 300 stores, including flagship outlets for international brands like H&M and Zara, the mall has become a go-to destination for shoppers, tourists, and entrepreneurs alike.
But what makes it truly unique is its location in Waterfall City, a thriving mixed-use precinct that combines residential, commercial, and leisure spaces. This strategic positioning has made the Mall of Africa a cornerstone of economic activity in Gauteng.
Who Owns Mall of Africa? Attacq Limited Takes the Lead
So, who owns Mall of Africa? Attacq Limited, a JSE-listed REIT, is the proud owner of this retail giant. In May 2024, Attacq acquired the remaining 20% stake in the mall from the Atterbury Group, bringing its ownership to 100%. This R1.07 billion transaction underscores Attacq’s commitment to strengthening its portfolio and driving growth in Waterfall City.
Attacq’s CEO, Jackie van Niekerk, emphasized the importance of this acquisition, stating that sole ownership allows the company to have greater control over the mall’s growth and trade dynamics. With Waterfall City’s ongoing densification, the Mall of Africa is poised to benefit from increased foot traffic and economic activity.
Why This Ownership Matters
Attacq’s full ownership of the Mall of Africa is more than just a business move; it’s a strategic play to enhance the mall’s value and ensure its long-term success. Here’s why this matters:
- Control Over Growth: With complete ownership, Attacq can implement tailored strategies to boost the mall’s performance, from tenant mix optimization to innovative leasing solutions like its SOOK Space for small businesses.
- Sustainability Leadership: The mall is home to the largest rooftop solar PV system in the southern hemisphere, reflecting Attacq’s commitment to sustainable practices.
- Economic Impact: As a key driver of retail activity in Gauteng, the Mall of Africa contributes significantly to job creation and local economic development.
The Future of Mall of Africa Under Attacq’s Ownership
Looking ahead, the Mall of Africa is set to remain a top-performing super-regional mall. Attacq’s plans for Waterfall City include further residential and logistics developments, which will drive even more traffic to the mall. Additionally, the recent addition of lifestyle amenities like rooftop padel courts and the Bounce trampoline park ensures that the mall remains a dynamic and engaging destination for all ages.
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Conclusion: Who Owns Mall of Africa and Why It’s a Game-Changer
So, who owns Mall of Africa? Attacq Limited’s full ownership of this iconic mall marks a new chapter in its journey. As the sole owner, Attacq is well-positioned to steer the Mall of Africa toward continued success, ensuring it remains a beacon of retail innovation and economic growth in South Africa.
Whether you’re a shopper, investor, or simply curious about the story behind this retail giant, one thing is clear: the Mall of Africa is more than just a mall—it’s a testament to visionary ownership and sustainable development.
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