{"id":878973,"date":"2026-10-10T07:00:00","date_gmt":"2026-10-10T05:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=878973"},"modified":"2026-10-09T16:30:13","modified_gmt":"2026-10-09T14:30:13","slug":"major-shopping-mall-in-one-of-south-africas-richest-areas-sold","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/878973\/major-shopping-mall-in-one-of-south-africas-richest-areas-sold\/","title":{"rendered":"Major shopping mall in one of South Africa’s richest areas sold"},"content":{"rendered":"\n

The Competition Commission has approved the sale of Constantia Emporium, a luxury shopping centre in Cape Town, along with some surrounding property.<\/p>\n\n\n\n

Constantia Emporium sits along Ladies Mile Road and is described by the Competition Commission as an “upmarket neighbourhood shopping centre”.<\/p>\n\n\n\n

The mall features several stores, including an upmarket Checkers, Woolworths, Clicks, and a Starbucks cafe.<\/p>\n\n\n\n

The Checkers found in the centre differs from the brand’s typical stores, featuring a sushi bar and a Lindt Chocolate Boutique.<\/p>\n\n\n\n

The centre’s location in the upmarket Constantia neighbourhood gives it access to wealthy customers, reflected in its luxury stores.<\/p>\n\n\n\n

Along with its anchor stores, the centre has a bespoke bakery and a high-end jeweller, named Winhall and de Stadler.<\/p>\n\n\n\n

The shopping centre itself is not the only part of the acquisition; an adjacent vacant plot of land is also included in the deal.<\/p>\n\n\n\n

The Competition Commission approved the sale of the centre to FPG Holdings, which is part of the FPG Group.<\/p>\n\n\n\n

The Commission did not include any conditions in its approval and said that it did not represent competitive market concerns.<\/p>\n\n\n\n

“The Commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market,” it said.<\/p>\n\n\n\n

“The proposed transaction does not raise significant public interest concerns.”<\/p>\n\n\n\n

While the commission did not raise concerns about competition, it noted that the FPG Group owns several surrounding properties.<\/p>\n\n\n\n

This includes eight retail centres in the same area as Constantia Emporium, including local convenience stores and a hyper centre.<\/p>\n\n\n\n

“Relevant to the proposed transaction, the FPG Group owns eight retail centres, which are located within a 15km radius of the Target Properties,” the commission said.<\/p>\n\n\n\n

“These include free-standing local convenience stores, neighbourhood centres, a lifestyle centre, and a hyper centre.”<\/p>\n\n\n\n

A major property developer<\/h2>\n\n\n\n
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The acquiring company, FPG, is a large player in South Africa’s retail property sector, with several notable past developments.<\/p>\n\n\n\n

This includes the Bluedowns shopping centre in the Western Cape, which has over 10,000 square metres of gross lettable area and 37 stores.<\/p>\n\n\n\n

The FPG Group redeveloped this centre in 2024, which it said was driven by high demand from local customers.<\/p>\n\n\n\n

The company said at the time that the increase in residential properties in the surrounding area had prompted the expansion<\/p>\n\n\n\n

“The residential expansion within the primary catchment area has led to a substantial increase in foot traffic to our centre,” it said.<\/p>\n\n\n\n

“This surge in demand has propelled us to embark on an ambitious journey to enhance and enlarge our facilities.”<\/p>\n\n\n\n

The company was also behind the redevelopment of Moreleta Corner, a shopping centre in Pretoria with 9,500 square metres of gross lettable area.<\/p>\n\n\n\n

The FPG Group is not only involved in the property sector but is also a major franchisee for the international fast-food brand KFC.<\/p>\n\n\n\n

Through FPG Foods, a subsidiary of the group, it operates roughly 56 KFC stores across South Africa, primarily in the Western Cape.<\/p>\n\n\n\n

FPG was founded in 1989 as a small subsidiary of the Foodworld Group, which was one of the largest independent retail chains in the Western Cape at the time.<\/p>\n\n\n\n

From this time, the company started acquiring properties, including a retail centre in the Bishop Lavis suburb, which it still owns today.<\/p>\n\n\n\n

Since this first acquisition, the company has grown its portfolio to include several major properties in South Africa’s retail sector.<\/p>\n\n\n\n

“Over the years, the story of FPG Property Fund has been shaped and written by a constant series of developments and acquisitions,” the company said on its website.<\/p>\n\n\n\n

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Photos of Constantia Emporium<\/h2>\n\n\n\n
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The Competition Commission has approved the sale of Constantia Emporium to PFG Holdings.<\/p>\n","protected":false},"author":131,"featured_media":879006,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2108784868511338965","_sma_facebook_post_id":"191437357620492_2232221937598205","_sma_instagram_post_id":"18105443123252975","_sma_x_attempts":1,"footnotes":""},"categories":[9872],"tags":[26752,1516,26751,26750],"class_list":["post-878973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bluedowns","tag-competition-commission","tag-constantia-emporium","tag-pfg-group"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=878973"}],"version-history":[{"count":23,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878973\/revisions"}],"predecessor-version":[{"id":879150,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878973\/revisions\/879150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/879006"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=878973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=878973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=878973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}