Owner of the largest shopping mall in South Africa puts 15% share in Fourways Mall on the table

• Accelerate Property Fund has signed a new property development and asset management services (PMA) agreement, which could result in 15% of the mall being transferred or bought by its managers.
• The new PMA comes into effect retroactively from February 2024, when the managers were appointed, regularising the failings of the previous agreement.
• The new PMA is largely the same as the old one: F&G and Luvon, as joint managers, will oversee day-to-day operations, tenant relations, and general property administration for the mall.