Liberty Two Degrees (L2D) which owns stakes in Sandton City,  Melrose Arch, Eastgate Shopping Centre and Nelson Mandela Square, says mall footcount in April exceeded its 2019 level, with the recent relaxation of lockdown restrictions prompting early signs of a retail recovery.

The company, which has an SA portfolio worth about R8.5bn, said in a pre-close update that first-quarter turnover was down only 3.9% to R3.6bn when compared to the same period 2020, saying this “substantiates encouraging signs of retail recovery.”..

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