'Our centres will be up and running in between 3 and 6 months'
About a 1000 shops of members of the National Clothing Retail Federation has been gutted
Arrowhead Properties estimates that it would take between three and six months to have most of its shopping centre back online
Rebuilding after last week’s unrest is going to be an enormous task.
Repairing and reopening malls that were burned to the ground could take two years, says Michael Lawrence, Executive Director at National Clothing Retail Federation.
Others that suffered relatively little damage may take a couple of months to repair.
The Money Show’s Bruce Whitfield interviewed Lawrence and Riaz Kader, COO at Arrowhead Properties (scroll up to listen).
We have about 1000 shops that have been mostly gutted, and completely looted… I’ve had people phone me… absolutely in tears… Some didn’t have the necessary insurance cover…Michael Lawrence, Executive Director - National Clothing Retail Federation
We had a shopping centre in Mpumalanga that was also partially looted and damaged…Riaz Kader, COO - Arrowhead Properties
We’ve lodged claims with Sasria… More engagement needs to happen from Sasria’s side…Riaz Kader, COO - Arrowhead Properties
We’re still assessing… We could get the majority of our centres up and running in between three and six months…Riaz Kader, COO - Arrowhead Properties
Whatever you do with security, if a couple of thousand people approach an asset, there’s very little that you can do… Communities are key in protecting the asset…Riaz Kader, COO - Arrowhead Properties
Rebuilding KZN is going to put enormous pressure on supply chains…Riaz Kader, COO - Arrowhead Properties
This article first appeared on CapeTalk : 'Our centres will be up and running in between 3 and 6 months'
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