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

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Repo rate cut by 25 basis points

Jan 16, 2020
Governor_Lesetja_Kganyago_SARB1
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Health & Safety key drivers for Concor at Oxford Parks project

Jan 13, 2020
Godfrey Baloyi Bennie De Koker Concor Buildings HSE
Health and safety are key drivers for Concor Buildings at the construction of Oxford…

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

The rising tide of the silver economy

Jan 16, 2020
Chris Cilliers
Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth…

Please publish modules in offcanvas position.