South Africa’s Moolman family has sold nine shopping malls for approximately $124 million (R2 billion), the billionaires.africa website reported on Friday.
The transaction sees the family dispose of a portfolio of nine shopping centres while retaining a commercial property footprint of 1.2 million square metres across the country, according to the report.
The Moolman family, known for its extensive property holdings in South Africa, said the sale forms part of a broader portfolio restructuring strategy. The family’s property interests span retail, office and industrial assets, and the disposal reflects a trend of high‑net‑worth investors reassessing retail exposure amid shifting consumer behaviour.
The nine centres were marketed and sold as a bulk lot, with the total consideration reported at R2 billion, equivalent to about $124 million at current exchange rates. While the identity of the buyer was not disclosed in the original report, the scale of the deal indicates continued interest in South Africa’s retail property market despite ongoing challenges such as elevated vacancy rates and the rise of e‑commerce.
Retail property analysts note that the transaction underscores a broader market reassessment, with several institutional players reducing exposure to traditional mall formats. The Moolman family’s decision to retain a substantial land bank suggests a long‑term view of the sector, even as individual assets change hands.
The sale was first reported by billionaires.africa, which cited figures provided by parties close to the transaction. No further regulatory filings or statements from the Moolman family have been published as of the time of writing.
Standard Bank and other major lenders have previously provided financing for similar South African retail assets, and the after‑market impact of this sale will be monitored by sector watchers for signals on pricing and demand in the coming months.
Explore more Billionaires stories and analysis from Business Elites Africa.
