Nelson Mandela Square to undergo major refurbishment after 20 years

Posted On Tuesday, 20 January 2015 15:51 Published by
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Liberty Group says Nelson Mandela Square will undergo major refurbishment for the first time in 20 years.

Sandton City

The redevelopment project aims to restore the precinct as one of the premier lifestyle and dining destinations in Gauteng. "Nelson Mandela Square has been trading in its current format for almost 20 years and plays an important role within the broader Sandton complex," said Alex Phakathi, Liberty Property Portfolio fund manager and fund manager at Stanlib Direct Property Investments.

Stanlib Direct Property Investments Franchise manages the Liberty property portfolio. Mr Phakathi said the square's facelift would ensure its tenant mix and aesthetics were aligned to that of the recently refurbished and expanded Sandton City. The redevelopment would introduce new restaurants and clothing stores.

"Our ability to attract top international retailers to the node is proof of the strength of the South African retailer marketplace and the confidence of these retailers in our economy," Mr Phakathi said. American fashion retailer Forever 21 is one of the major tenants that will join the revamped square. The group already has a store at Canal Walk Shopping Centre in Cape Town.

Redefine Properties chairman Marc Wainer recently said he expected many fashion groups to open stores in SA this year. "People love clothing brands and the (entry) of new brands into the country, which we have seen in the past couple of years, is only the beginning." Stanlib Direct Property Investments chief investment officer Amelia Beattie said the square would also be redeveloped to function more effectively with Sandton City.

"The plan is to completely modernise and improve the aesthetics throughout the centre." The refurbishment was expected to be completed in July this year.

Last modified on Tuesday, 20 January 2015 16:36

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