Futuregrowth's Comprop acquires KG Mall in Emalahleni
Futuregrowth Community Property Fund (Comprop) has acquired KG Mall in Gauteng. The 21,483m2 shopping centre, situated at the entrance to the Kwa-Guqa township in Emalahleni, consists of a single-storey main internal mall with Shoprite as its central anchor.
KG Mall in the Kwa Guqa township in Emalahleni. Source: Supplied
The acquisition brings the Comprop portfolio to 23 shopping centres, with a total gross lettable area of more than 392,000m2 valued in excess of R6.6bn. All Comprop’s shopping centres are situated within townships and rural areas around the country.
Said Smital Rambhai, fund manager at Comprop: “The acquisition of KG Mall fits in with our long-term strategy of acquiring dominant quality shopping centres with strong national tenants that will have strong sustainable income growth over the long term for our investors.”