With positive future indicators, Sky City Mall, which is part of the Sky City Precinct, has shown exponential growth, now including a residential component of over 100-free standing houses taking occupation monthly.
The first high density complex of 543 units is fully occupied. The second phase of 1500 units will be underway soon.
Worthy of mention is the community of Sky City, Cosmopolitan, Police forums, SAPS and various other parties standing together to ward off July 2021 looting. We believe that the community of Sky City played an integral part in protecting the mall and assets in the area. Thankfully, we were unscathed, sealing our resolve to continue to prioritise the protection of our tenants, shoppers, and residents by offering them a carefully curated and safe retail and living hub.
Sky City Mall, holds a strong retail mix shaped for a community located 20 minutes from Alberton, and at the crossroads of Thokoza, Katlehong and Vosloorus.
“The first high density complex of 543 units is fully occupied. The second phase of 1500 units will be underway soon.”
GMI Property Group’s Managing Director, Gerald Dros says,” Seen as affordable and accessible our future strategies rest on creating the best retail presence and value for shareholders, visitors, partners and residents, shoppers and communities.”
In April 2019 the hyper Sky City Precinct launched its 13 000 square meter, 50 store shopping centre, Sky City Mall, with Shoprite and Cashbuild as anchor tenants. Mr Price, Studio 88, Sportscene and an Engen filling station adds to the current mix.
As demand for housing flourishes so does the demand for retail. A second grocery store and quality fashion and furniture stores are expected to fast-track the Sky City Precinct to 25 000 square meters. Furthermore, a 12 000 square meter extension will open in 2023. This will allow for a better offering of high-end fashion, shoes and apparel, with further food , services, gym and furniture offerings in the pipeline.
Dros says, “With a progressive approach towards the vigorous nature of corporate, commercial and residential property, this asset portfolio is performing well. With the development of community-driven precincts in a mixed-used real estate ecosystem, safe spaces have been created where people can connect”.
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