South African shopping mall gets R76 million upgrade from international property giant

• Nonesi Mall has received a R76 million upgrade from international property giant Vukile Property Fund.
• The extension adds 3,100 sqm of retail space and addresses gaps in the tenant mix, with four new tenants including OBC Better Butchery and Absa Bank.
• The redevelopment is expected to deliver a 9.5% net operating income yield and create 356 employment opportunities, with 98.5% of the expenditure located in the Eastern Cape.