South African investment funds invest massively in the construction of new retail scheme projects on a local level. The biggest projects are developed by Prime Kapital, NEPI-Rockcastle and Iulius, the company founded by Iulian Dascălu, which invests alongside the South Africans from Atterbury Europe.
The retail spaces market started timidly this year in terms of development activity, but a return is expected for the rest of the year, as projects with a total area of around 120,000 sqm are announced to be delivered, according to the company’s data real estate consultancy Cushman & Wakefield Echinox.
Only one project was completed in Q1/2024, with an area of 5,000 sqm, namely Cometex Hunedoara, thus recording the lowest quarterly level of deliveries in Q1/2020.
