South African Business 2019 edition
The 2019 edition of South African Business is the seventh edition of this annual guide to business and investment in South Africa. Regular pages cover all the main economic sectors of the South African economy and give a snapshot of each of the country’s provincial economies. Feature articles on topical issues such as Special Economic Zones and African trade provide unique insights, together with comprehensive overviews of critical economic sectors. Other special features focus on the exciting new possibilities in renewable energy, airports as engines of regional growth and the maritime sector as an entirely new prospect for South African entrepreneurs and businesses. South African Business is complemented by nine regional publications covering the business and investment environment in each of South Africa’s provinces. The e-book editions can be viewed at www.globalafricanetwork.com
The 2019 edition of South African Business is the seventh edition of this annual guide to business and investment in South Africa.
Regular pages cover all the main economic sectors of the South African economy and give a snapshot of each of the country’s provincial economies. Feature articles on topical issues such as Special Economic Zones and African trade provide unique insights, together with comprehensive overviews of critical economic sectors. Other special features focus on the exciting new possibilities in renewable energy, airports as engines of regional growth and the maritime sector as an entirely new prospect for South African entrepreneurs and businesses.
South African Business is complemented by nine regional publications covering the business and investment environment in each of South Africa’s provinces. The e-book editions can be viewed at www.globalafricanetwork.com
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OVERVIEW<br />
Construction and property<br />
The shopping mall trend continues to grow.<br />
A<br />
big new development on Oxford Road in the Johannesburg<br />
suburb of Rosebank says a lot about the <strong>South</strong> <strong>African</strong> construction<br />
and property sector. The 300 000m² Oxford Parks<br />
mixed-use development by Intraprop began construction<br />
in 2017 and the first phase is expected to be valued at about R1-billion.<br />
Firstly, <strong>South</strong> <strong>African</strong>s love shopping malls. The <strong>South</strong> <strong>African</strong><br />
Council of Shopping Centres calculates that the country has the sixthhighest<br />
number of shopping malls in the world. R2-billion was recently<br />
spent on Menlyn Park in Pretoria to expand it to 177 000m² of gross<br />
lettable space while the Gateway Theatre of Shopping in Durban,<br />
<strong>South</strong> Africa’s second-biggest mall, will spend R750-million in 2018.<br />
Limpopo’s provincial capital Polokwane has had the super-regional<br />
Mall of the North since 2011.<br />
Secondly, development often follows existing patterns (Rosebank-<br />
Sandton is already the richest and densest retail and office precinct in<br />
Africa). Many of <strong>South</strong> Africa’s biggest firms have their headquarters<br />
in this area: BPSA will take up residence in Oxford Parks. Thirdly, the<br />
SECTOR INSIGHT<br />
More <strong>South</strong> <strong>African</strong>s live in<br />
flats than ever before.<br />
concept of “lifestyle” malls (combining<br />
apartments with office,<br />
entertainment and retail space)<br />
has caught on. The best known<br />
of these is Johannesburg’s<br />
Melrose Arch.<br />
Finally, the Oxford Parks<br />
project illustrates a big shift in the<br />
construction sector away from<br />
large conglomerates towards<br />
smaller, black-empowered<br />
SOUTH AFRICAN BUSINESS <strong>2019</strong><br />
98<br />
cont on pg 100
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