Fourways Mall sees robust growth in 2024, outperforms market average during ‘Festive Season’

• Fourways Mall closes 2024 with strong growth in leasing, foot traffic, and retail performance.
• 9.5% increase in total spend during the festive season, outperforming the market average.
• Renewed consumer confidence and retailer success drive mall's positive performance, particularly after a strong November.

Fourways Mall has demonstrated remarkable growth throughout 2024, solidifying its position as a top retail destination in Johannesburg. The mall’s performance was highlighted by significant increases in leasing activity, foot traffic, and retail performance, culminating in a 9.5% rise in total spend during the festive season.

This performance exceeded the South African market average, showcasing renewed consumer confidence and retailer success, especially following a strong trading period in November.

Several key factors contributed to the mall’s upward trajectory.

1. Leasing Momentum Drives Performance
Under the new management team appointed by Accelerate Property Fund in March 2024, Fourways Mall successfully leased 15,000 square metres of vacant space by December 2024.

The mall welcomed a range of new retailers, including Baglios, Carrol Boyes, Curve Gear, Echt Coffee, Faro, Le Creuset, Levisons, Lovisa, Polo Sport, Skechers, Tasko Sweets, Uniq, Xpresso, and Yokico, as well as a large 4,500-square-metre double-storey Value Co store.

Leasing activity was further supported by 111 store renewals, encompassing over 38,500 square metres since February 2024. As a result, the mall’s vacancy rate significantly improved, dropping from 23% at the end of December 2023 to 13% by December 2024. Over the year, Fourways Mall secured 44 new tenants, excluding relocations, extensions, and upgrades.

2. Festive Season Success
Fourways Mall’s festive season performance was a standout. December 2024 shopper spend exceeded R500 million, reflecting a 9.5% increase from the previous year’s R460 million. Foot traffic surged to 1.5 million visits in December, up from 1.1 million in November and October.

A key highlight of the festive season was Santa Land, which attracted over 21,500 visitors, with an impressive average dwell time of 1 hour and 30 minutes per shopper. The event’s family-friendly focus successfully boosted foot traffic, drawing attention to new retailers and enhancing the overall shopping experience.

Retail category performance mirrored the mall's success, with fashion sales growing by 17% year-on-year, driven by new tenants. The grocery segment also saw impressive growth, with Checkers recording a 31% sales increase and the overall grocery category growing by 24% year-on-year.

Enhancing the Shopper Experience
Looking ahead, Fourways Mall is committed to enhancing its offerings with new attractions. The mall has already opened a large indoor shooting range, Tactical HQ, catering to visitors seeking unique experiences. Other upcoming additions include Match Padel courts (opening March 2025), a new SPUR family restaurant (opening May 2025), and a Planet Fitness gym (set to open mid-2025).

Infrastructure upgrades, such as a new VIP parking area, enhanced directional signage, and improved lighting in the parkade and common areas, have further elevated the customer experience.

With sustained growth in leasing, foot traffic, and retail sales, Fourways Mall is poised for continued success in 2025, reinforcing its status as one of Johannesburg’s premier retail and lifestyle destinations.

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