T he Futuregrowth Community Property Fund has acquired KG Mall, which brings the Comprop portfolio to 23 shopping centres, with a total gross lettable area of more than 392 000 m 2 valued in excess of R6,6b. KG Mall is a quality shopping centre situated at the entrance to the Kwa-Guqa township in Emalahleni, which is approximately 95 kms east of Pretoria in Gauteng. The 21 483 m 2 shopping centre consists of a single-storey main internal mall with a central Shoprite anchor, as well as a number of line shops and a Cashbuild that trade onto an expansive parking area which includes a KFC and a McDonald’s drive-thru. KG Mall is easily accessible via Mathews Phosa Street, which is located off the N4 and via the main Kwa- Guqa taxi rank. A pedestrian crossing allows for easy access for customers on foot from the taxi rank and the neighbouring community. Smital Rambhai, the Fund Manager of Comprop said: “The acquisition of KG Mall fits in with our long-term strategy of acquiring dominant quality shopping centres with strong national tenants that will have strong sustainable income growth over the long term for our investors.” Comprop is a flagship fund among Futuregrowth Asset Management’s suite of developmental investments. All Comprop’s shopping centres are located in prime locations within townships and rural areas around the country. FUTUREGROWTH’S COMMUNITY PROPERTY FUND ACQUIRES ANOTHER PRIME RETAIL SHOPPING CENTRE
year, in Barcelos, the home of flame-grilled chicken, and Maltos, a Mediterranean restaurant reminiscent of the Greek isles, located overlooking the hotel pool. With a focus on fresh seafood, Maltos, which can seat up to 180 diners, has a vast menu offering incorporating sushi, tapas, pizza, grills and pastas. “We offer a cocktail bar, and a choice of two dining options, from casual to a more stylish, upmarket dining area,” said Maltos Wild Coast Sun General Manager Graeme Blignaut. Maltos employs 30 staff members, 80% of whom are drawn from local communities. Wild Coast Sun’s popular breakfast and private function restaurant, Chico’s, has had a R5,5m make-over, with the beautiful new dining floor and bathroom area in shades of the ocean it overlooks, opening in December 2022. The Palms, new convenience shop For all visitors’ daily essentials, from over-the-counter medicines to sunblock and nappies, to cigarettes, snacks and drinks, The Palms convenience shop has opened to ensure guest comfort during their stay, without having to leave the Resort. Mangwanani Spa upgrades coming in 2023 What holiday is complete without a relaxing massage or rejuvenating facial, and Mangwanani Spa caters to all guests, big and small, even offering manicures and pedicures for children. “We are also excited about improvements being made at Mangwanani Spa during 2023. Wild Coast Sun is always a work in progress as we strive to please our guests, and we have some big news in the pipeline for next year,” Tshidi said.
11 CONSTRUCTION WORLD FEBRUARY 2023
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