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By Syndicated Content By Nqobile Dludla JOHANNESBURG (Reuters) â Recent unrest in South Africa damaged hundreds of businesses but property developers and retailers say they remain committed to the fast-growing consumer markets of its predominantly Black townships. Riots broke out this month after former President Jacob Zuma handed himself in to start a 15-month jail term for contempt of court. More than 300 people died and about 3,000 stores were looted, over half of them belonging to major retailers and fast food brands. At least 161 shopping malls, 11 warehouses and eight factories suffered heavy damage, sites that include tenants such as grocery chain Shoprite and Walmart majority-owned Massmart. ....
South Africa property, retail firms bet on townships despite unrest thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Property, retail firms bet on SA's townships despite unrest timeslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timeslive.co.za Daily Mail and Mail on Sunday newspapers.
SA property, retail firms bet on townships despite unrest moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
To view all features and options, click here. A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee. A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership. Here to update us on the reopening of its malls, as well as the rebuilding after the destruction from the looting, is Laurence Rapp, who is the CEO of Vukile Properties. Laurence, thanks so much for your time. Phew, how quickly things can change! The last time I spoke with you, you were speaking about improved results on the bottom line, and now we are talking about a situation that can potentially reduce the profits that may be forthcoming in the foreseeable future. How badly were the affected malls damaged by the riots? ....