Fortress Real Estate and Forever Young Capital are set to redevelop the Balfour Mall after Fortress acquired a controlling stake in the 37,000m² shopping centre in Highlands North, Johannesburg.The JSE-listed group acquired 51% of Tradecco Properties, the owner of the mall, in a R175m transaction approved without conditions by the Competition Commission.The deal hands Fortress control of one of the city’s established suburban retail centres at a time when the group is sharpening its focus on high-density Gauteng nodes where commuter and township-adjacent retail continues to show resilience.Balfour Mall serves a densely populated catchment spanning northern Johannesburg suburbs, with strong commuter flows linking the inner-city to Alexandra, Sandton and surrounding commercial corridors.Against this backdrop, Fortress is planning a comprehensive redevelopment and operational repositioning of the centre, in partnership with Consolidated Urban and Forever Young Capital — shared-value property investors founded by Jeremy and Paul Berman together with entrepreneur Jonti Brozin, the group said. The collaboration is expected to extend beyond a typical mall upgrade, with the partners targeting a broader precinct regeneration strategy aimed at repositioning the area as a functional, community-oriented urban hub.The redevelopment programme is expected to include upgrades to the mall’s physical infrastructure, tenant mix, security systems and public spaces, with a targeted reopening set for 2027.Fortress CEO Steven Brown said the transaction aligned with the group’s strategy of deepening its exposure to high-density urban retail environments.“Balfour Mall has long been a recognised landmark in Johannesburg’s northern suburbs, and we believe it has enormous untapped potential, and the intention is to reposition it as a vibrant, safe and welcoming community retail destination,” Brown said.Fortress and its development partners have previously been involved in urban renewal projects including Victoria Yards in Lorentzville, which has emerged as one of Johannesburg’s better-known examples of mixed-use precinct regeneration, the group said.