Vivian Reddy: South African tycoon behind $68.5-million Oceans Mall Umhlanga
Along Durban’s picturesque coastline, where the azure waters of the Indian Ocean serenely embrace the glistening golden sands, a testament to modern opulence emerges, courtesy of South African magnate Vivian Reddy. He not only redefines the city’s skyline but also leaves an indelible mark on countless lives.
His latest triumph, the awe-inspiring $68.5-million Oceans Mall Umhlanga, stands as a monument to unwavering vision, tenacity, and an unwavering dedication to South Africa’s people.
Vathasallum Reddy, fondly known as Vivian Reddy, is not confined to the pages of a financial report or the glass towers of corporate South Africa; he is a man who has not only amassed immense wealth but has also channelled it towards reshaping the economy of his nation.
Reddy’s journey to the zenith of South Africa’s business elite began in the early 1990s, a pivotal moment in the nation’s history. As apartheid crumbled and Nelson Mandela walked to freedom, Reddy embarked on a path that would see him rise as one of the country’s wealthiest businessmen and a prominent supporter of the African National Congress (ANC).
His business acumen, marked by his ability to diversify and adapt, has led him to helm a conglomerate spanning the energy sector, casinos, healthcare, finance, and property development. Yet, what sets Reddy apart is not just his wealth but his commitment to giving back.
In November 2022, Reddy unveiled a jewel in Umhlanga’s crown, the internationally acclaimed Oceans Mall. It wasn’t just another shopping center, but a lifeline for the community. The $68.5 million investment created a staggering 1,300 permanent jobs for local residents, adding to the 3,500 jobs it generated during construction.
What makes Oceans Mall Umhlanga truly unique, though, is its commitment to empowerment. In a nation where economic disparities still linger, this luxurious mall boasts 65 percent black tenants and is 100 percent black-owned, with the Public Investment Corporation (PIC) as a co-shareholder. It’s not just a mall; it’s a testament to the power of economic inclusion.
But Reddy’s vision doesn’t stop at retail. In the same year, he launched the $52.7 million Radisson Blu hotel in Umhlanga, Durban, a five-star marvel featuring 206 hotel rooms, 95 suites, a 36,000-square-meter mall, and about 500 apartments. This iconic property is more than just a hotel; it symbolises Durban’s resurgence as a global destination. It’s a testament to Reddy’s ability to pivot, adapt, and invest in the future.
His journey into the hospitality sector and commercial property development follows the resounding success of Edison Power Group, where Reddy serves as the founder and chairman. Edison Power Group is a conglomerate focused on power, casinos, and hotels, with Edison Power itself being a leading electrical engineering service provider in South Africa.
At 71, Reddy is not content with merely accumulating wealth. He’s deeply committed to philanthropy in South Africa, supporting initiatives like the Orphans of AIDS Trust Fund and contributing to projects like the Wingen Heights Secondary School and a clinic in the eThekwini Metropolitan Municipality.
His dedication to uplifting the underprivileged underscores his belief in the power of shared prosperity. Despite his towering success, Reddy maintains a low-key public presence, preferring to let his actions speak louder than words. In his story, we find not just a tale of wealth but a narrative of resilience, empowerment, and a deep commitment to building a better South Africa.
The Oceans Mall Umhlanga isn’t just a mall; it’s a beacon of hope, a testament to the spirit of one man who dared to dream and, in doing so, changed many lives. It’s a story that Billionaires.Africa is honored to share, the story of a South African tycoon whose legacy extends far beyond the business world.