In a major move within the South African commercial property sector, Pareto Limited has elected to acquire sole ownership of the Sandton Convention Centre, Sandton Towers, Virgin Active Sandton and Garden Court Sandton City hotels. The R1.1 billion transaction, which fundamentally shifted structure in early March 2026, sees the property group cut out JSE-listed hospitality operator Southern Sun, to take full control of the Sandton Consortium properties. Originally announced as a joint acquisition on 3 February 2026, the deal has been advancing rapidly towards finalisation in the past week as Pareto formally notified competition authorities of its intent to proceed as the sole acquirer.
The Pareto Group
Pareto Limited is an unlisted property giant wholly owned by the Government Employees Pension Fund (GEPF). Under the leadership of Group Chief Executive Officer Malose Kekana, Pareto has built a formidable portfolio of premier shopping centres. Its existing domestic assets include a minority stake in Sandton City alongside full or significant ownership of Menlyn Park, Westgate, Cresta, Tyger Valley, the Pavilion, Southgate Mall and Mimosa Mall. The group also holds international interests, including a 50% stake in Atterbury Europe and direct ownership of the Mall of Cyprus and the Mall of Engomi.
This latest acquisition marks a deliberate strategic pivot beyond traditional retail. Acknowledging structural shifts in the retail sector where major anchor tenants are reducing their physical footprints, Pareto is actively diversifying its income streams. By expanding into the lucrative conference and hotel sectors, the group aims to secure more resilient returns for the GEPF, which manages the retirement savings of approximately 1.25 million active members and 450,000 pensioners across the South African public service.
General information only. It is not legal, tax or investment advice. Speak to a qualified adviser before you act on it.
