Are we finally going to be able to shop at the big malls without being charged exorbitant parking fees? Well, one of the property groups has confirmed that it will scrap parking fees at some shopping centres next year.
Redefine Properties, which owns Centurion Mall, Maponya Mall, Southcoast Mall, Benmore Centre, Blue Route Mall, Riverside Mall, Kenilworth Centre and Wonderboom Junction, in a report by Business Insider, will scrap parking fees at some shopping centres and have a capped parking fee of R5 everywhere else.
A trial run in July by the group found that by reducing or removing parking fees, more customers visited the centres and spent more. It seems that finally, malls have realised that it doesn’t make sense to penalise customers for staying longer at malls.
Here’s hoping that other shopping malls follow suit!
In another shopping centre development, Sandton City, in an interview with 702 has confirmed that, for the first time in 45 years it is fully let and is trading around 44% above other centres. This is quite an achievement given the economic downturn and the proliferation of shopping malls which has led to vacant shops in most malls. It also confirms that it has signed up, in the past three years, more luxury brands than any other shopping centre in the country.
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