Fourways Mall’s Struggles: Can South Africa’s Biggest Shopping Centre Bounce Back?

Once celebrated as South Africa’s largest shopping mall, Fourways Mall is now grappling with significant challenges, including high vacancy rates, declining foot traffic, and a tarnished reputation. Despite substantial investments and a bold turnaround strategy, the mall’s struggle to regain its former glory remains evident.

The Rise and Fall of Fourways Mall

Fourways Mall, with over 178,000 m² of gross lettable area and approximately 350 stores, underwent a massive expansion and revamp in 2019. This transformation positioned it as the largest shopping mall in the country. However, the ambitious revamp fell short of expectations.

From 2021 to 2023, the mall’s vacancy rate increased from 3% to 8%, and net rent per square meter dropped from R298 to R262. Its fair value also plummeted from R9.6 billion in 2020 to R8.04 billion by 2023. These figures underscore the struggles faced by both the mall and its owners.

A Turnaround in Progress

The mall has implemented a strategic plan to revitalize its operations. Collaborations with Flanagan & Gerard as strategic asset managers and Moolman Group as property managers are at the core of this effort.

Key initiatives include:

• Enhancing security through improved parking area lighting and upgraded measures.
• Optimizing parking bays, traffic flow, and signage for a seamless shopping experience.
• Introducing new tenants and entertainment offerings, including padel courts, a running track, and diverse eateries.
• Creating e-hailing zones to improve accessibility and convenience.

According to Accelerate Property Fund CEO Abri Schneider, these changes aim to reestablish Fourways Mall as a top-tier shopping destination.

Mixed Results on the Ground

A recent visit by BusinessTech highlighted the mall’s ongoing challenges. While some areas have seen improvements, others remain ghost towns with empty stores and low foot traffic. Festive season crowds were notably absent, especially when compared to Sandton City’s bustling atmosphere.

Efforts like modern window wraps on empty stores improve the aesthetic but don’t fully mask the problem of vacant spaces in less-trafficked areas. Furthermore, parking issues, such as non-functional payment terminals, add to customer frustrations.

Consumer Perception and Future Prospects

Local residents expressed skepticism about the mall’s appeal, citing its poor reputation as a reason for avoiding it. Despite this, ongoing efforts to improve the tenant mix, entertainment options, and overall experience suggest that Fourways Mall could eventually turn a corner.

The road to recovery for Fourways Mall is steep, but not impossible. If its ambitious turnaround strategy succeeds, the mall could regain its status as a retail and entertainment hub. For now, Fourways Mall must continue working hard to rebuild trust, attract tenants, and draw shoppers back to its vast spaces.

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