As of 2017, South Africa has an estimated 23.4 million square meters of gross lettable area. Although new shopping centres appear to be rising all around, the increase in building costs, land values and lack of prime sites is creating an opportunity for the refurbishment of existing centres.
Since 2005, Centro Property Group has undertaken cosmetic upgrade and refurbishment projects across our portfolio, with great success. Given the company’s holistic involvement in the properties’ finances, leasing and marketing, the management of these projects can be taken on in-house.
Centro Property Group is committed to sustainable development within the commercial property sector. Our Utilities Management Service supports this notion by:
- Minimizing electricity consumption;
- Reducing water usage with leak detection technology and rapid response;
- Reducing waste to landfills with on site waste separation and management services.
Centro Property Group is currently consulting with leading experts in the field to expand its sustainability commitments. Some areas of interest are:
- Solar power generation
- Green roofing options
- Environmentally friendly cleaning products
- Specific waste reduction options
- ‘Sustainable’ tenants such as second-hand outlets.