Load-shedding will return in South Africa

Cr419

Executive Member
Joined
Feb 22, 2016
Messages
8,449
#81
You'd think that here as well. However the recent one is only someone that moved shop. The others are Toyota, Makro and a service station. Of these only the last two I know are new and they were erected in the last 5 years, before the real exodus started. Everyone was very enthusiastic 15 years ago but since then development has slowed down drastically and they're struggling to keep the mall occupied.
Did you consider that maybe you town is just a shthole, and not the whole country? I can assure you the way buildings are popping up around here you would swear we are not in a recession.
 

ISP cash cow

Expert Member
Joined
Feb 10, 2011
Messages
4,865
#82
You'd think that here as well. However the recent one is only someone that moved shop. The others are Toyota, Makro and a service station. Of these only the last two I know are new and they were erected in the last 5 years, before the real exodus started. Everyone was very enthusiastic 15 years ago but since then development has slowed down drastically and they're struggling to keep the mall occupied.
I would not say that Malls reflect the actual business of the country, In my view point there are way to many malls in this country. I have never been to a country that has so many shopping malls as we have. Near where I live there are 6 major malls in a 15 minute driving time with a scattering of about 10 smaller shopping centres. all of them with the same shops.

I have been saying for years that something has to give and I would not be surprised if a couple of malls start going dead, especially with the South African people becoming more and more savvy with purchasing online.

People are sick of malls and I for one avoid them when I can. I think you are going to see mall shops closing down more frequently.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
18,254
#83
Did you consider that maybe you town is just a shthole, and not the whole country? I can assure you the way buildings are popping up around here you would swear we are not in a recession.
Did YOU consider that maybe new buildings are popping up everywhere but don't get occupied? And the ones that do are mostly old businesses moving shop. Because that's what's happening here and it would also give you the same impression you are getting over there until you dig deeper. I wish them luck between Gordons Bay and Paarl because they're going to have a tough time getting all that space filled.
 

ToxicBunny

Honorary Master
Joined
Apr 8, 2006
Messages
76,481
#84
Did YOU consider that maybe new buildings are popping up everywhere but don't get occupied? And the ones that do are mostly old businesses moving shop. Because that's what's happening here and it would also give you the same impression you are getting over there until you dig deeper. I wish them luck between Gordons Bay and Paarl because they're going to have a tough time getting all that space filled.
So you think developers just spend hundreds of millions on new buildings without secured tenants?
 

Arzy

Honorary Master
Joined
Apr 18, 2004
Messages
27,314
#87
Spec developments did exist at a time, I haven't seen one started though in the last two years.

Nothing in my area is currently being built without a signed tenant up front which has committed to at least 10 years.
 
Top