JSE-listed real estate investment trust (REIT) Dipula Properties has expanded its national footprint with the acquisition of five properties valued at R700 million, marking a major investment in both retail and industrial assets.
The headline acquisition is the Protea Gardens Mall in Soweto, purchased for R480 million.
The 24,000-square-metre centre is anchored by prominent retailers such as Shoprite and Cashbuild, and is considered a key strategic addition to Dipula’s portfolio.
Expanding in Key Retail Nodes
In line with its growth strategy, Dipula also confirmed two retail-related acquisitions:
- Woolworths Gezina, adjacent to its Gezina Galleries in Pretoria.
- Land next to Tower Mall in Jouberton, which will enable further development in the 15,000m² retail hub.
Strengthening Logistics and Industrial Assets
Dipula has also concluded terms for two additional properties aligned with its core focus on logistics and industrial real estate – sectors it sees as essential to long-term growth and resilience.
“This is an agile response to improving market conditions and a more favourable cost of capital environment,” Petersen added.
Strategic Positioning
The latest acquisitions reflect Dipula’s strategy of acquiring high-quality, income-generating properties in established and emerging urban nodes.
The REIT aims to drive value through tenant strength, location potential, and consistent consumer demand.
The expansion comes as confidence begins to return to South Africa’s commercial property sector, following years of stagnation due to economic uncertainty and rising interest rates.
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