Pareto's Asset Management Executive, Muhammad Paruk speaks to Moneyweb

Despite the challenging economic environment, Pareto malls continued to experience meaningful trading density growth throughout the 2023 shopping season,” said Pareto asset management executive Muhammad Paruk.

“[It] showed strong growth compared to the previous year and significantly exceeding pre-pandemic levels,” he added.

Besides Menlyn Park, Pareto owns notable malls like The Pavilion Shopping Centre in KwaZulu-Natal, Cresta Shopping Centre and Southgate Mall in Johannesburg, and Tyger Valley Shopping Centre in Cape Town.

Listen/read: Joburg needs the finest people to lead the city – Malose Kekana

“Notably, the trading densities achieved during the 2023 shopping season have well surpassed the levels seen before the onset of the global pandemic. This signals a strong recovery for both Pareto and the broader retail industry, underscoring the resilience of Pareto’s assets but also the adaptability of the sector,” said Paruk.

“The centres reflected increased foot traffic, longer dwell times, and higher sales across various product categories,” he added.

Read more here: https://www.moneyweb.co.za/investing/property/a-bumper-festive-season-for-sas-shopping-malls/