Monday, 25 July 2016 17:08

Mara Delta looking to invest a further US$ 110 million in Mozambican real estate

Written by
Rate this item
(1 Vote)

Mara Delta (formerly Delta Africa) announced that it is looking into investing a further US$ 110 million into Mozambique, by acquiring an additional four properties, as well as the second stage development of its Anadarko building.

Banco_de_Moambique

The Company has since 2014 invested in six landmark commercial properties in Mozambique, collectively valued at US$160 million, including landmark buildings such as the Anadarko, Hollard and Vodacom buildings in the capital city of Maputo.

Head of Developments Greg Pearson commented: "We are confident of the long-term growth prospects in Mozambique. The challenges that the country faces are not unique to emerging economies and we are continuously engaging with the Banco de Moçambique on these matters.

“Mara Delta has a solid risk strategy in place which includes careful cash flow management around investments, our ability to manage flow of funds through our liquidity facilities in Mauritius and ensuring our anchor tenants are blue chip internationals, securing most of our leases in US dollars.

“We are currently engaging with financiers for a 7 to 10 year Mozambique debt package to refinance the in-country debt and fund the acquisition pipeline.”

With a management team with over 45 years combined African experience and relationships, as well as in-country asset and property management teams, the company is focused on creating significant shareholder value ensuring consistent growth on the African continent.

“Real estate investment is a long-term play, and we certainly remain committed to the countries we invest in. We have long leases in place and have diversified our portfolio in Mozambique significantly to manage through the economic cycle,” Pearson added.

Mara Delta’s assets in Mozambique include commercial offices in key strategic nodes and the Company recently diversified into corporate accommodation as well as strategic retail centres and warehousing under triple net leases. These assets are managed in-country by Mara Delta’s local asset management team.

The Company, listed in Johannesburg and Mauritius, also holds a portfolio of assets in Morocco, Zambia, Nigeria, Kenya and Mauritius. 

Last modified on Wednesday, 27 July 2016 21:29

Most Popular

Signatura launches Cosmopolitan lifestyle on Bantry Bay/Sea Point cusp

Mar 28, 2017
Sea_PointCusp
Some of the most exclusive real estate in the country – Cape Town’s Atlantic Seaboard –…

Corobrik contributes to Inner City rejuvenation.

Mar 30, 2017
Heritage View development Brickfields Newtown Johannesburg
The quality, durability and overall affordability of Corobrik’s face brick range has seen…

Sea Point's Mojo Market launches this April 2017

Apr 05, 2017
Mojo Market
An entire block of a Sea Point retail space will be dedicated to a new, seven-day food…

Investing in student accommodation: pros and cons

Mar 31, 2017
Bill Rawson CEO
The recent protests at universities and colleges across SA have caused many to question…

Swapping power for change in SA's financial capital, Sandton Central

Mar 25, 2017
Sandton Central Elaine Jack
It will be lights out for Sandton Central, Joburg's premier business, shopping and…