Interested buyers, all 50 of them so far, are sharpening their knives ahead of the sale of Rebosis Property Fund and its various properties, which includes Hemingways Mall, East London’s most prestigious retail property, as well as Baywest Mall in Gqeberha. Secret written offers will be submitted this week, but eventual decisions on the bids could drag on until Christmas.
Two of the biggest shopping malls in the Eastern Cape - Baywest in Gqeberha and Hemingways in East London - are up for sale as owners Rebosis Property Fund, started by property mogul Sisa Ngebulana, struggles to pay a R9.5bn debt.
Small businesses in the Buffalo City Metro have been left in the dark over debt relief after the metro failed to update and meet them for more than a week despite assurances.
Mthatha’s BT Ngebs City mall, one of the Eastern Cape’s flagship malls founded by property mogul Sisa Ngebulana and named after his grandfather Buchanan Tandi Ngebulana, is going up on sale. The R1.4bn, 60,000m² shopping centre was opened by Ngebulana’s Billion Group in June 2015 to much fanfare.
Businessman Edwin Sodi scammed of R160 000 mbaretimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mbaretimes.com Daily Mail and Mail on Sunday newspapers.