South Africans’ desire for new shopping centres is being insatiable as another mall enters the fray.

While developers are quick to build new shopping centres, some property experts are concerned that the domestic market may be oversaturated.

Morningside Shopping Centre’s customer numbers increased by double digits year-on-year each month in the second half of 2015.

Leading Gauteng-based retail property developers and investors, Flanagan & Gerard Property Development & Investment, today announced that co-founders Patrick Flanagan and Peter Gerard will jointly chair the group.

Vukile Property Fund today reported 7% growth in distributions per share for its half year to 30 September 2015, delivering results in line with its market guidance.

Attracting over one million shoppers each month this year, Eyethu Orange Farm Mall has built a strong, successful trading record since it opened a year ago, on 28 October 2014.

Record trade highs are being reported at Mpumalanga’s Middelburg Mall, with its shopper numbers growing by an unprecedented 32% over the past year.

Morningside Shopping Centre achieved a record performance in September, notching up its highest monthly turnover since this iconic centre first opened in June 2009. Overall, the popular bespoke community centre in Sandton is delivering growth of 10% year-on-year.

The R1.4 billion new 65,000m2 Ballito Junction Regional Mall is already more than 80% full, with more than a year-and-a-half before it is due to open in March 2017.

Vukile Property Fund has secured a 33% R350 million stake in the 50,000sqm Thavhani Mall at Thavhani City in Thohoyandou, Limpopo, after signing a deal with the developers of the new regional shopping centre, Thavhani Property Investments (Pty) Limited. The acquisition will extend Vukile’s retail exposure.