How will Mall of Africa effect South Africans' pockets?

Earlier this morning, there was a major traffic congestion as people were heading to the opening of Mall of Africa in Waterfall City, Midrand.

This is South Africa’s largest shopping mall ever built in a single phase and cost R5 billion.

However, there have been concerns that South Africa has way too many malls now. We have the six largest number of malls in the world, totaling almost 2000.

Xolani Gwala finds out from Dirk Prinsloo, CEO of Market Research Group Urban Studies, how the new Mall of Africa will affect South Africans' pockets.

If you look at the Midrand area that has always been a gap in the market place for a big mall. This mall must survive on a very big catchment area. And that's the only reason why it's warranted.

Dirk Prinsloo, CEO of Market Research Group Urban Studies

Around the Mall of Africa we sit with 560 000 people living there. And that's why we see the potential with the Mall of Africa.

Dirk Prinsloo, CEO of Market Research Group Urban Studies

In spite of poor economic conditions, what's planned for the next three to four years is another 1.5 million square meters of additional shopping centers throughout South Africa. And it's not only the metropolitan areas, it's also township areas, the bigger town and also rural areas.

Dirk Prinsloo, CEO of Market Research Group Urban Studies

The shopping center industry is one of the big creators of employment, and in total almost 800 000 people countrywide are employed by shopping centers.

Dirk Prinsloo, CEO of Market Research Group Urban Studies

Listen to the interview below...

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