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The owner of Glen Village Shopping Centre is planning to invest more than R600 million in refurbishing its shopping centres and building a new mall in the next 12 to 18 months.
Akani Properties, a black-owned property development company, said it is unfazed by the impact of Covid-19, which has left other landlords scrambling to for tenants, especially in bigger malls as consumers favoured smaller convenience centres since the pandemic hit SA s shores. This investment is testament to our belief that the worst is behind us, and the recovery of the economy is on the cards, said Akani MD Zamani Letjane.
More of level 4? | George Herald
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Akani Properties invests R600m in building and refurbishing shopping malls in Zeerust and Pretoria East
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Allan Baxter
An extension of adjusted lockdown level 4 restrictions beyond two weeks will have a material impact on third-quarter GDP, according to an economist.
The Bureau for Economic Research (BER) on Monday issued an economic note, raising concerns about the rising Covid-19 statistics and the potential for adjusted lockdown level 4 restrictions to be extended. Unfortunately, given the progression of the third wave since the measures were first announced, we think it is likely that most, if not all, of the current restrictions will be extended. This will then start to have a more meaningful adverse impact on the 2021Q3 GDP performance, the statement read.