The still-reasonable real growth is in part about reasonable nominal sales growth, which measured 7.3% year-on-year in October, but also still very much about low Retail Price Inflation of 3.9%, contained by a broader benign inflationary environment that currently persists in South Africa.

Like the year so far, the 2015 festive season is set to be tough and highly competitive for retailers. So says Marius Muller, CEO Pareto Limited, the country’s premier shopping centre investor and a leading retail property player with landmark assets across South Africa.

The weak economy, deteriorating exchange rate and tighter consumer credit will all put pressure on retail sales this holiday season says Stephan le Roux, Retail Sector Divisional Director at South Africa’s largest JSE-listed REIT, Growthpoint Properties.

South African consumers who can afford to buy luxury products expect an indulgent experience and personal attention from luxury retail stores.

Small regional malls have emerged as the centres of highest per capita growth on the back of retailers renewed interest in this space. 

Safari Investments, which focuses on township shopping malls, is on course to grow to a R3bn fund in 18-24 months.

South Africa’s inland shopping malls could be in for pleasing festive season sales as a result of the country’s struggling economy, according to Managing Director of Atterbury Asset Managers, Lucille Louw. This is because fewer families can afford to take holidays this year.

Ongoing portfolio development to underpin continued growth.

The Tower Property Fund, which upon listing on the JSE in July 2013 set a clear strategy of occupancy cost reduction across the board, with a strong focus on "greening", has continued to make good on its intentions and is currently rolling out green measures to several buildings within the fund’s portfolio.

Vukile Property Fund today reported 7% growth in distributions per share for its half year to 30 September 2015, delivering results in line with its market guidance.