AJP Group, a diversified, proudly South African entity that builds successful retail and property businesses, today announced its intention to purchase 100% of the shares and claims in Killarney Mall Properties Proprietary Limited from Octodec Investments Limited for a purchase price of R397.5 million.

AJP Group CEO, John Baladakis says that the group’s extensive experience in developing, owning and operating retail shopping centres makes it the ideal owner to take Killarney Mall into the next phase of its evolution.

“Our proudly entrepreneurial mindset, combined with our intimate understanding of what makes regional and community shopping centres such valuable assets, means that we have a keen ability to recognise growth opportunities. We know how to translate opportunities into lucrative businesses, and we have no doubt that Killarney Mall presents excellent turnaround potential,” he says.

The group’s dynamic, hands-on approach is reflected in the success and scale of its portfolio. Recognised as retail property turnaround specialists, AJP Group combines a deep understanding of retail – from South Africa’s biggest brands to small, independent retailers – with exceptional insight into consumer needs and trends, and an innate ability to build tenant profiles that serve communities. This expertise has enabled the group to optimise properties into thriving, sustainable assets.

“We see significant upside in Killarney Mall and strong potential to do what we have done well for the past 30 years: breathing new life into regional and community centres to create thriving, long-term, sustainable and value-creating assets,” says Baladakis.

The transaction remains subject to a due diligence process, which is scheduled to commence on 25 February 2026.

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