Municipal worker pension fund buys Nicolway centre for R1.1bn

Black-owned property investor, manager and developer, Akani Properties has acquired the Nicolway shopping centre in Sandton for R1.1bn on behalf of its client, the Municipal Employees Pension Fund .

The MEPF took registration of the property on December 15 following approval by competition authorities. The acquisition includes Nicolway’s retail centre, the Decathlon Sport Hub retail component and Nicolway West offices...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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