Commenting on the group’s interim results for the half year ended in February this year, Kelly said the vacancies, which were due to a standoff between government and foreign retailers, would be felt on their books despite efforts to mitigate the loss to the company. “We are now hopeful however that by the end of 2017, the centre will be fully occupied and delivering a retail experience to the local community as originally envisaged at the outset,” he said.
Following an impasse between the South African retailers and the Ministry of Investment, Trade and Industry, Pilane Crossing was officially opened last September without some of the targeted tenants who were denied trading licences. At that time, PrimeTime said about 30% of their targeted tenants, who are South African retailers, had failed to secure exemptions to trade in businesses reserved for locals. “Two of the affected five retailers have now obtained their trading licences with a further two having received their exemption from the Ministry of Investment, Trade and Industry pending gazetting. We are expecting Clicks to open in the centre within the next few months and Edcon’s Jet by the end of September 2017,” he said.
