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Centurion – Rebosis Property Fund says it is gearing up for growth in one of South Africa’s fastest growing retail markets, Centurion, by capitalising on its local retail property portfolio.
Opened three years ago, Rebosis’ regional mall Forest Hill City has attracted a growing shopper base as Centurion continues to demonstrate some of the highest retail, residential and office growth rates in the country, comparable with Sandton to the south and Menlyn to the north.
Driving Forest Hill City’s growth strategy is newly appointed general manager Lionel van Lis, who has more than 20 years’ experience in the retail, hospitality and entertainment sector.
“Forest Hill City is in an excellent position, not only in terms of planned internal developments but also the housing and infrastructure that is being developed around it,” says newly appointed general manager Lionel van Lis.
He describes it as a one-stop regional destination focusing on entertainment, food, banking and retail.
“The Gauteng retail centre space is effectively saturated, which is compounded by weak consumer confidence and slow economic growth. We have to be very clear about our value proposition going forward,” says Van Lis.
He said the mall’s catchment area is large enough to sustain a few smaller centres, but that it is important to be prepared for new players entering the market.
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