Sandton City, one of South Africa’s premier luxury shopping destinations, has reached 99.9% occupancy, underscoring strong demand for premium retail space and the effect of its ongoing transformation.
According to Standard Bank’s insurance and asset management business unit, the centre has undergone a deliberate repositioning, driven by leasing and operational performance, customer insight and a curated tenant mix over the past two years.
“The rightsizing of Edgars, for example, created a dynamic athleisure hub, attracting both global and local brands, including the second Crocs Icon store in the world,” the group said.
Sandton City is now part of Standard Bank’s property portfolio, which also includes properties owned by formerly listed Liberty Two Degrees. The latter became a wholly owned subsidiary in 2023, following Liberty Group’s buyout of minority shareholders, strengthening the bank’s footprint in prime commercial real estate.
The mall has seen new store openings in 2025 — including international brands such as Marc Jacobs and Kate Spade — enhancing its global fashion offering. At the same time, existing stores such as Mango and Ferragamo are undergoing refurbishments set to enhance shoppers’ experiences, the group said.
Sandton City leads among South Africa’s three biggest destinations for luxury goods, the other two being the V&A Waterfront in Cape Town and Oceans Mall in Umhlanga.
“We have curated a tenant mix that meets Sandton consumers’ expectations, balancing global brands, local innovation and experiences. By staying close to our tenants and maintaining operational excellence, we continue to deliver a relevant retail environment,” said Dimitri Kokinos, general and asset manager for the Sandton City precinct.
The calibre and diversity of new tenants, particularly in the fashion, athleisure and lifestyle categories, have contributed to the property’s exceptional performance.
— Standard Bank
Over the past two years, Sandton City has concluded 50 new leasing deals and facilitated 46 store upgrades, representing more than 30,000m² of lettable space. The centre’s trading density has grown by 12.1% over the same period, significantly outperforming national benchmarks, it said.
Meanwhile, vacancy rates have improved from 3.6% in January to just 0.1% in October, reflecting the sustained appetite for quality space among local and international retailers.
“The calibre and diversity of new tenants, particularly in the fashion, athleisure and lifestyle categories, have contributed to the property’s exceptional performance,” the group said.
During the period, the group commissioned a 1MW solar rooftop installation, the adoption of energy wheeling solutions, and continuous upgrades aligned with net zero 2030 ambitions.
“We have always believed that retail spaces must evolve beyond traditional formats to remain meaningful in people’s lives.
“By integrating sustainability, experience and purpose into our asset management strategy, we are creating spaces that do more than facilitate commerce,” said Amelia Beattie, Standard Bank’s head of business efficiencies, property and impact.
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