Old Mutual renames Gateway

Posted On Wednesday, 05 September 2001 03:01 Published by
Rate this item
(0 votes)
REGISTRATION of the term 'shoppertainment' as a trademark by a North American developer has forced Old Mutual Properties to rename its R1,4bn retail

REGISTRATION of the term 'shoppertainment' as a trademark by a North American developer has forced Old Mutual Properties to rename its R1,4bn retail and leisure development at Umhlanga KwaZulu-Natal Gateway Theatre of Shopping.

Old Mutual Properties MD Ian Watt says the decision to switch from Gateway Shoppertainment World was prompted by The Mills Corporation's registration of the term. Mills has a portfolio of top retail and entertainment destinations in North America.

'The term shoppertainment' succinctly captures the offering at various Mills properties and also what we are offering at retail and entertainment destinations like Gateway, Menlyn Park in Pretoria and Cavendish Square in Cape Town,' says Watt.

An Old Mutual spokesman said that in reaching the renaming decision, the group was thinking of the future, which might see Old Mutual Properties expanding into US, European and Middle East markets. The group would then use Theatre of Shopping as its trade mark.

Watt says Gateway set new benchmarks in retail, with 40% of space devoted to entertainment. This includes the world's highest indoor climbing rock, a skateboard park, a standing wave for board riders, 24 cinemas and a host of restaurants. 'However, Mills, with which we have a good relationship, has registered the term as its own and we need to respect its rights.'

The Mills Corporation, listed on the New York Stock Exchange, has a portfolio of properties rated as tourist destinations in 10 US states.


Publisher: Business Day
Source: Business Day

Most Popular

SA property visionary John Rabie announces new global property joint venture

Mar 15, 2021
LX_LIVING_Lisbon_Portugal
Capital, the Geneva based property investment, development and asset management-business,…

Repo rate unchanged at 3.5%

Mar 25, 2021
Lesetja_Kganyago_SARB_Governor
The Monetary Policy Committee has decided against altering the repo rate, deciding to…

Court finds against EAAB in battle for FFCs

Mar 16, 2021
Tony C
In a scathing judgement handed down from the High Court on 15 March, the failure of the…

KZN residential property market poised for upswing

Mar 15, 2021
Sershin_Moodley_TUHF
Over the past three years, the KwaZulu Natal (KZN) property market has enjoyed…

SARB to hold but is a rate hike around the corner?

Mar 16, 2021
SARB_to hold_rate_hike
The South African Reserve Bank (SARB) is set to hold the repo rate at the 23-25 March…

Please publish modules in offcanvas position.