Hystead Limited (Hystead), a UK company co-owned by Hyprop Investments Limited (Hyprop) and PDI Investment Holdings Limited (PDI), today announced that it has acquired a 90% interest in two Croatian shopping centres.

Tower Property Fund has announced its largest acquisition to date – a Euro 66 million deal that sees the fund expanding its offshore presence through the purchase of four retail centres in Croatia.

Ivan Šantorić, Executive Director of Retail and Logistics in Konzum participated at the 7th  Croatian retail forum focused on new technologies and trends in retail, so naturally online shopping was one of the key topics.

Tower Property Fund conclude preliminary agreement with Agrokor d.d and Konzum d.d to acquire 4 Konzum stores and shopping centres in Croatia for €66 386 227 less the amount of debt in the Dubrovnik company.

In July of 2015 Tower Property Fund announced its decision to establish an offshore presence through the purchase of a newly built office tower, VMD Block B, in Zagreb, Croatia.

Western Cape-based Tower Property Fund is branching out overseas along with several other SA property companies, but analysts warn that these markets come with their own challenges.