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FUTUREGROWTH ASSET MANAGEMENT
FUTUREGROWTH COMMUNITY PROPERTY FUND CONTINUES TO BRING SHOPPING CENTRES TO PRIME LOCATIONS WITHIN TOWNSHIPS AND RURAL AREAS
.The Futuregrowth Community Property Fund (“Comprop”) has acquired Sam Ntuli Mall, which brings the Comprop portfolio to 24 shopping centres, with a total gross lettable area of more than 420 000m2.
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Sam Ntuli Mall is a recently developed, high quality regional shopping centre situated in the large township of Katlehong, approximately 28 kilometres south-east of the Johannesburg CBD. The 30 276m 2 shopping centre is anchored by Shoprite, Pick ‘n Pay, Boxer and Cashbuild - with an internal mall as well as a number of line shops trading directly onto an expansive parking area that includes several drive-thru offerings.
Sam Ntuli Mall is centrally located and is easily accessible via Tugela Street and Masakhane Street. The shopping centre has excellent commuter access with an on-site taxi rank servicing local routes and the main taxi rank located less than 1 kilometre away, servicing commuters to and from Johannesburg. There is extensive parking available for customers with vehicles and a pedestrian crossing allowing for easy access by customers on foot from the neighbouring community.
Smital Rambhai, the Fund Manager of Comprop said: “The acquisition of Sam Ntuli Mall falls in line with our long-term strategy of investing in high quality retail shopping centres across South Africa, that are underpinned by strong income growth potential for our investors and service the low to middle income households by delivering high quality goods and services at affordable prices. The acquisition brings the Comprop portfolio to R7 billion in size, which makes it one of the biggest specialist property funds in South Africa.”
Comprop is a flagship fund in Futuregrowth Asset Management’s suite of developmental investments and has been in existence for more than 25 years. All Comprop’s shopping centres are located in prime locations within townships and rural areas around the country.
WHO IS SAM NTULI?
Mr Sam Ntuli was a prominent local community, antiapartheid stalwart and civic activist who was involved in the activities of the Civic Association of Southern Transvaal (CAST), which represented a range of civic organisations that campaigned on predominantly local issues such as the lack of adequate housing and services in the black townships. He was tragically murdered on 29 September 1991 in what human rights monitors suggested was the first of a wave of planned assassinations of community leaders in Thokoza.
Ntuli was awarded (posthumously) The Order of Mendi for Bravery in Silver for:
“His excellent contribution to peacebuilding during a particularly violent and delicate time in the history of the liberation struggle. He paid the ultimate price for his dedication to peace and freedom.” - The Presidency.
ABOUT FUTUREGROWTH
Futuregrowth Asset Management is a leading fixed interest investment company that, as at 31 December 2022, manages ±R192.3 billion (±US$11.3 billion) of assets on behalf of its investors which are predominantly South African retirement insurance and retail funds. Futuregrowth has been the leader in responsible and developmental investing in the South African asset management landscape since 1995, and has a nine-year track record of investing in early-stage investments .
FOR FURTHER INFORMATION CONTACT:
Smital Rambhai
Portfolio Manager: Community Property Fund
Tel: 021 659 5337
Email: srambhai@futuregrowth.co.za
Adele du Bois Botha
Marketing Project Manager
Tel: 021 659 5476
Email: adeledb@futuregrowth.co.za
