A mall in Soweto has been sold for R480 million

JSE-listed real estate investment trust (REIT) Dipula Properties has expanded its national presence by acquiring five properties worth R700 million, making a significant investment in retail and industrial assets.

The flagship acquisition is the Protea Gardens Mall in Soweto, bought for R480 million. The 24000-square-metre centre, anchored by major retailers like Shoprite and Cashbuild, serves as 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 finalized agreements for two more properties that align with its core focus on logistics and industrial real estate—sectors it views as critical for 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 demonstrate Dipula’s strategy to acquire high-quality, income-generating properties in both established and emerging urban nodes.

The REIT seeks to drive value by leveraging strong tenants, prime locations, and steady consumer demand.

This expansion comes as confidence starts to return to South Africa’s commercial property sector after years of stagnation caused by economic uncertainty and rising interest rates.