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

Posted On Monday, 25 July 2016 17:08 Published 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

Scores of subcontractors at risk as yet another principal contractor enters business rescue

Jun 10, 2019
 MOHAU MPHOMELA
News of yet another principal contractor entering business rescue with tens of millions…

Lifestyle brand to open in Cape Town’s vibrant Longkloof precinct

May 30, 2019
 CANOPY FINAL
Hilton today announced the signing of a management agreement with Growthpoint Properties,…

How to invest in property without costly and risky direct ownership

Jun 05, 2019
 MARC EDWARDS
When people want to invest in real estate they usually secure a loan to purchase a…

Solid Performance By Arrowhead's Core Property Portfolio in Line With Expectations

May 29, 2019
 MARK KAPLAN
Arrowhead Properties Limited, a proudly South African JSE-listed REIT with a diverse…

Investec Australia Property Fund successfully lists on the ASX

May 29, 2019
 GRAEME KATZ
Investec Australia Property Fund has listed on the Australian Securities Exchange (ASX)…

Please publish modules in offcanvas position.