The Competition Tribunal has approved the sale of three malls, with two found in the country’s richest cities.
Firstly, the Tribunal has unconditionally approved the sale of Table Bay Mall to the JSE-listed Hyprop for R1.6 billion.
Hyprop previously said that the area is set to experience above-average growth due to the residential developments that are being driven by semigration to the Western Cape. It also expects net property income before depreciation for the period between 1 November 2023 and 31 October 2024 to reach R125.7 million.The Tribunal also conditionally approved the merger where the Sasol Pension Fund, Luvon Investments, and Litapro acquire Eden Meander in George, Western Cape, from Accelerate Property Fund. ., the mall comes in at 31,000 sqm and is valued at roughly R520 million, with a net operating income of R35.8 million.
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