Honesty and Integrity
Honesty & Integrity
McCormick Property Development has been built upon, and remains dedicated to, the following moral values:
- Honesty, Integrity and Loyalty
- Reliability and Sincerity
We are a company that is private by design and our success has come through recommendations of people moved by our company’s ability to develop not only real estate, but entire communities in the process.
In all our operations, the one truism around which this company was founded is: “our word is our bond” and we are constantly striving towards delivering beyond our promise of excellence.
As a company we have pioneered retail development within the South African emerging market since 1983 and we remain a leader in this field today.
Now, with Africa’s emergence as an economic block of global interest, we remain true to our pioneering roots in developing some of the most significant retail and mixed-use schemes on the Continent.
The commencement of the much anticipated “Cidadela da Matola” development in Mozambique marked the commencement of an African expansion strategy of over two decades in the making. We have now secured prime retail and commercial properties within numerous economic capitals of Africa and will be developing new urban centres within these African economic “hubs” extending to the development of smaller “spokes” within the secondary towns of those countries.
We are opening the trade routes of Africa to South African and first world retailers!
Whilst we have an exciting future in Africa, we remain highly-focussed on our local portfolio of new and existing developments.
Remaining true to our founding principle of servicing the under-serviced areas, MPD is developing an extremely strong pipeline of regional and community centres that promise to become the primary economic nodes for their regions.
We manage all the properties within our portfolio with a less-than-1% vacancy factor and an average of over 21% turnover growth across it. The portfolio showed strong growth even through the recession due to strong retail mixes and attentive hands-on management.
As a market-leader within its niche of development in South Africa, we will continue to deliver exceptional growth not only to the McCormick Group, but to all those who choose to partner with us in the lucrative "emerging markets" of South Africa.
Rural Retail Impact
Rural Retail Impact
The retail sector forms a critical element of a community’s economic and social welfare. It provides people with choices and services. These choices were until recently very limited in township areas. The pre-1994 retail landscape was dominated by small, often informal businesses offering basic household necessities to relatively low income earners. This has resulted in township residents’ preference to shop outside townships, known as ‘outshopping’.
Rapid income growth of township residents since 1994 resulted in a substantial increase in consumer expenditure in these areas, known as ‘in-bound shopping’. This lucrative emerging market forms the last retail frontier in South Africa and is being explored by national retailers,
especially supermarket chains. This article is aimed at establishing the impact of shopping mall development in townships on the traditional small township retailers including spaza/tuck shops.
The net balance sheet on the impact of shopping mall development on small township retailers clearly suggests a decline in the township retailers’ market share. A change in small business model towards, inter alia, effective customer service with a small dedicated assortment of merchandise, satisfaction of emergency needs, selling in small units and extension of credit facilities may result in the survival of some small township retailers (albeit often at a smaller turnover).
Bureau of Market Research, University of South Africa
To read the full study please download the PDF. download
A community-focused company striving to become the premier property development company in Africa.
We create wealth and employment by developing not only real estate, but entire communities in the process.
Founded by Chairman John McCormick in 1983, McCormick Property Development (MPD) pioneered the development of retail centres in the former ‘homelands’ and rural areas of South Africa.
Since inception, MPD has worked closely with local communities and is proud to have set up the country’s first ever BBBEE scheme in Giyani in 1985.
With a continued focus on high growth emerging markets, MPD continues to cement its position as a market leader of retail development in these areas.