Township mall owner shares the grave detail - Jason McCormick on coming back stronger

Posted on 07/15/2021

The McCormick family are well known property moguls in South Africa. Their property portfolio consists of listed and unlisted assets, mainly malls and shopping centres around the rural and township areas of South Africa. It's listed assets are held through a real-estate investment trust called Exemplar, which is an illiquid counter with a market capitalisation of approximately R3bn. It is controlled by the family. Jason McCormick, chief executive of Exemplar, joined Alec Hogg on the BizNews Power Hour to tell an extremely sombre tale. A number of the McCormick's properties have been looted, vandalised and all but destroyed. The fight isn't over, he says, as the family will look to rebuild and come back stronger as the communities in which they operate depend on it. - Justin Rowe-Roberts