Sound economics and common sense prevailed when a decision was taken last week by two prominent retail developers, Atterbury and Safland, to join forces and develop a new shopping mall in Walvis Bay as partners and not as competitors. This was announced in a joint press statement by Louis van der Watt, CEO of Atterbury Properties and Kallie van der Merwe, CEO of Safland.
It was also confirmed that the parties will pool all their Walvis Bay assets with the aim to undertake all the future developments in a 50/50 joint venture partnership. "We regard Walvis Bay as a rapidly growing market but it is currently still too small to justify two competing malls, both with a shopping area greater than 20 000 square meters.
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