Investors impatient as Accelerate delays Fourways Mall reopening

The largest shopping centre in Africa will now relaunch in August after the property developer missed its April deadlineJSE-listed Accelerate Property Fund has missed its own deadline to reopen the redeveloped Fourways Mall, the largest shopping centre in Africa.

The head of research at Anchor Stockbrokers, Craig Smith, said while the mall could succeed over the long term, delays have created a number of concerns. “Long-term, I think the extended mall will be a success given the density and demographics surrounding the mall; short-term, however, may be a challenge as it is extremely challenging to be leasing space into this market,” he said.the fall in Accelerate’s share price had stemmed from numerous sources.

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