South Africa’s Nonesi mall gets $4.68 million upgrade in Eastern Cape

Nonesi Mall in Komani, Eastern Cape, is set for a R76.1 million ($4.69 million) upgrade as owner Vukile Property Fund expands the shopping centre and brings in new retailers and financial services. 

The project will add 3,100 square metres of retail space, taking the mall’s gross lettable area to almost 31,000 square metres. Vukile expects the redevelopment to deliver a 9.5% net operating income yield. 

The expansion comes as Vukile looks to make better use of space at the mall while giving shoppers more choices. The project uses previously underused parking space at the front of the centre and also addresses gaps in its tenant mix. 

Vukile said it used customer data and its knowledge of the local market to decide which retailers and services would be added.

New retailers expand Nonesi Mall offering 

Four new tenants will anchor the expanded section: OBC Better Butchery, Dis-Chem Pharmacy, Standard Bank and Absa Bank. The mall is also home to Checkers, Boxer Superstores, Woolworths, Jet and Game. 

The redevelopment includes the relocation and refurbishment of the existing Clicks store, the arrival of Edgars and an expansion of Sidestep. Vukile said the project created 356 jobs, while 98.5% of its spending went to businesses and suppliers in the Eastern Cape.

Vukile targets stronger mall performance 

“It was already one of our best-performing assets, and this redevelopment builds on that foundation in a considered and purposeful way,” said Itumeleng Mothibeli, Vukile’s managing director for South Africa. 

Mothibeli said the company wants Nonesi Mall to offer shoppers greater choice while strengthening its role as a convenient retail and banking centre for Komani.

Vukile property fund’s portfolio 

Vukile Property Fund is a JSE-listed real estate investment trust with total assets of R63.7 billion($3.93 billion). About 70% of its portfolio is invested in Spain, Portugal and Italy, while the company also owns and manages shopping centres in South Africa. 

The Nonesi Mall project reflects Vukile’s approach of investing in existing properties where additional retail space, new tenants and improvements can support both shoppers and property performance.