New Africa Developments Completes Kalahari Mall Acquisition in Northern Cape Push

New Africa Developments (NAD) has completed the acquisition of Kalahari Mall in Upington, Northern Cape, after the transaction received unconditional approval from the Competition Tribunal in June. The company said the deal marks its entry into the Northern Cape and adds a dominant regional retail asset to its growing South African portfolio.

Kalahari Mall is an established shopping destination serving Upington, surrounding towns and neighbouring cross-border markets, with a national tenant mix, a loyal customer base and a consistent trading history. NAD said the acquisition combines proven investment fundamentals with opportunities to add value through active asset management, including proactive leasing, optimisation of the tenant mix and significant investment in the property.

Robin Houghton, managing director of New Africa Developments, said the mall stood out as a high-quality regional asset with sound fundamentals and a significant position within its market, citing its trading performance, national tenant mix and established customer base.

The company noted that Upington is an important economic centre supported by agriculture, logistics, renewable energy, tourism and cross-border trade, with mining a significant economic driver in the surrounding region. It said the mall's strategic location allows it to draw customers from well beyond the immediate town, which it believes supports the area's long-term prospects.

NAD is planning a substantial investment in Kalahari Mall over the next year, including an extensive refurbishment and renovation, the reconfiguration of several tenant premises and the potential expansion of its gross lettable area. Founder and chief executive Japie van Niekerk said the aim is to build on what already works rather than change the fundamentals that have made the mall successful.