Vukile finalizes $13m upgrade of Mthatha Mall

Vukile Property Fund has completed a $13 million (R225 million) upgrade of the Mall of Mthatha, marking a major reset for the Eastern Cape retail center under South African executive Laurence Rapp. This follows its R800 million ($46.13 million) acquisition of the former BT Ngebs Mall in May 2024 in partnership with Flanagan & Gerard Property Group. 

The relaunched mall opened its doors this week, drawing local officials, business owners and community representatives. For Vukile, the investment is positioned as a long-term pledge to a region that has struggled to attract large-scale private capital.

Commitment to place and people 

Rapp said the upgrade reflects Vukile’s belief that retail centers work best when they respond to the communities they serve. “A mall is more than a commercial asset. It becomes part of people’s routines and part of the city’s rhythm. We want to create places that feel welcoming and useful every day,” he said. 

Once viewed as an underperforming asset, the center has seen a steady improvement over the past year through fresh design, new tenants and upgraded infrastructure. Paul Gerard, managing director of Flanagan & Gerard, said the focus was on the details that make shopping easier and more enjoyable. “This is about today’s shopper and tomorrow’s expectations,” he said. 

City officials said the project shows what public-private cooperation can deliver. King Sabata Dalindyebo Municipality Executive Mayor G.N. Nelani said the mall is helping support jobs and revive confidence in the area.

New stores, livelier spaces

The center now hosts a broader retail mix, including Pick n Pay Clothing, Dis-Chem, Burger King, Newscafé, Volpes and Home Choice — all new to Mthatha. Existing anchors such as Woolworths and Checkers have expanded their space. 

A lighter interior, new entertainment options and an improved restaurant section have revived foot traffic, helped by added escalators and a new mezzanine level. The upgrade boosts gross lettable area to 60,762 square meters and improves links to the adjacent hotel and casino.

Vacancies have fallen from 20 percent to 1.72 percent since the ownership change. Annual foot traffic is up 5 percent to more than six million visitors. Retail turnover rose 25 percent between September 2024 and August 2025, with August 2025 alone gaining 32.4 percent. Homeware, restaurants, fast food, pharmacy and men’s wear recorded the strongest growth. 

Vukile expands portfolio across two regions

Vukile is a specialist retail REIT with property assets valued at R50 billion ($2.9 billion), split between South Africa and Spain and Portugal through its Madrid-listed subsidiary, Castellana Properties. Rapp, who holds more than 4 million shares, has guided the fund’s expansion across both regions. The company recently raised $28.4 million through bonds and completed a R141 million ($8.1 million) upgrade of Bedworth Center in Vereeniging.