Community and Smaller malls – those under 25,000 sqm – are performing exceptionally well in South Africa and keeping competitive with the larger players. <\/p>\n\n\n\n
This is according to the latest Clur Shopping Centre Index update, which tracks the performance of 4 million sqm of prime retail space in South Africa and Namibia for listed and unlisted property funds.<\/p>\n\n\n\n
According to Clur International, the Community and Smaller Mall index’s Y\/Y growth was 4.5% in 2023, with an annualised trading density of R41,694 per sqm.<\/p>\n\n\n\n
This was better than the annualised trading density for the All Centres index, which stood at R40,889 per sqm. <\/p>\n\n\n\n
“At the worst of the Covid era, this segment outperformed all other shopping centre formats for both annualised trading density and y\/y growth,” said Clur International. <\/p>\n\n\n\nType of centre<\/strong><\/td> Annualised Trading Density<\/strong> (sqm<\/strong>)<\/td> Y\/Y Growth<\/strong><\/td><\/tr> Community & Smaller<\/strong><\/td> R41 694<\/strong><\/td> +4.5%<\/strong><\/td><\/tr> Small Regional & Smaller<\/td> R36 119<\/td> +3.8%<\/td><\/tr> Small Regional <\/td> R32 158<\/td> +3.1%<\/td><\/tr> Regional<\/td> R38 022<\/td> +4.4%<\/td><\/tr> Super Regional<\/td> R48 628<\/td> +6.2%<\/td><\/tr> Regional and Super Regional<\/td> R43 205<\/td> +5.3%<\/td><\/tr> Small Regional, Regional and Super Regional<\/td> R40 774<\/td> +4.9%<\/td><\/tr> All Centres<\/td> R40 899<\/td> +4.9%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n