Developments News

Happy 21st birthday, Gateway Theatre of Shopping!

Old Mutual Properties’ Gateway Theatre of Shopping is celebrating its 21st birthday.

Gateway has proven to be one of the biggest retail success stories in the country. OMP’s bold decision in 1998 to build a super-regional mall in a field of sugarcane came with significant risks,” comments CEO of Old Mutual Properties, Sakina Nosarka.

At its inception, the R1.4 billion asset played a fundamental role in the broader R3.5 billion plus development of the KZN North Coast as the ‘anchor tenant’ to the New Town Centre. It remains one of the largest malls in the southern hemisphere and one of the top 100 largest malls in the world.

Informed by the thinking behind the likes of the Mall of America and West Edmonton Mall, Gateway was designed to open out onto Palm Boulevard and integrate with the evolving Umhlanga New Town Precinct. It has grown from 118 000m2 when it opened in 2001 to 176 000m2. The centre opened its doors with 117 tenants, and it has grown to 370 retailers today, 54 of whom have been trading since the beginning.

It is currently witnessing growth year-to-date with turnover at 34% ahead of 2021 figures. Compared to pre-Covid levels in 2019, it is showing positive growth of over 21%.

Gateway has set an important example when it comes to growth and retail innovation as well as investment in sustainability, social inclusion and community,” adds Nosarka.

Gateway’s 21st birthday celebration comes on the back of the announcement of a multi-million-rand upgrade of the Great Hall around its entrance axis as well as the two adjacent vaulted wings. This will be completed in two phases before and after the festive break.

In 2022, Gateway has decreased its energy consumption by 30%, in line with Old Mutual Properties’ aim for carbon neutrality within the next 20 years which has resulted in the replacement and upgrades to incorporate latest technologies and efficiencies – including lighting, sanitary ware, escalators, lifts, and air conditioning chillers.