Largest township shopping mall in South Africa worth R1.5 billion being sold
The Competition Commission has recommended that the sale of Mams Mall in Mamelodi to Resilient REIT be approved by the Competition Tribunal without conditions.
The 74,957-square-metre mall is cited by Kasi Economy as the largest township shopping mall in the country, featuring over 3,030 parking bays and 140 shops.
The mall opened in November 2018 and is jointly owned by Resilient and NAD Property Income Fund.
Resilient confirmed in its recent interim results that it would acquire the 50% stake of Mams Mall from NAD, pending regulatory approvals.
The group already owns and manages a portfolio of retail centres.
It owns several large malls across South Africa, including the Galleria Mall in KwaZulu-Natal, and the Irene Village Mall and Grove Mall in Gauteng.
In total, the group owns 28 retail spaces across South Africa, with a cumulative lettable area of 1.2 million square metres.
With its current stake, Mams Mall is the 12th most valuable property interest in its portfolio. However, once the transaction is completed, it will become one of the most valuable assets.
In Resilient’s 2025 full-year report, the group valued the investment cost of its 50% stake in the mall at R778 million, bringing its total investment value to just over R1.55 billion.
This would be second only to its 75% stake in Galleria Mall (worth R1.7 billion), and just above its 100% ownership of Boardwalk Inkwazi (worth R1.52 billion).
The group has not published market valuations for the assets, which may differ from their investment value.
According to the FY2025 data, the average valuation for Resilient’s South African portfolio was R33,300 per square metre. This implies a value for Mams Mall over R2 billion.
Resilient has continued to invest in the asset, particularly with its strategy to reduce reliance on grid-provided electricity.
The mall was one of several that have been moving towards renewable energy options to avoid Eskom’s rising electricity costs.
In addition to continued investment, the mall is centrally located for easy access, and has key anchor tenants and features.
NAD’s investment case posited that the mall would serve approximately 1 million people in the surrounding areas.
Supermarkets include Boxer, Game, Pick n Pay, Shoprite and Spar, with other major retailers like Clicks, Dis-Chem, and Woolworths also present.
It has dedicated children’s play areas and a large central entertainment court, alongside all major banking desks, restaurants and lifestyle shops.
Of concern to the Competition Commission for approving the transaction was the group’s portfolio in Gauteng. However, the Commission ultimately approved the transaction without conditions.
“The Commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent
competition in any market,” it said.
“The proposed transaction does not raise significant public interest concerns.”
Pictures of Mams Mall
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