In one of the largest real estate transactions in Africa over the past year, Lango Real Estate Limited has agreed to acquire the Africa (ex-South Africa) retail real estate portfolio ultimately owned by JSE-listed REITs Hyprop Investments Limited and Attacq Limited.

JSE specialist shopping centre REIT, Hyprop, today announced the sale of Manda Hill Shopping Centre located in Lusaka, Zambia.

JSE specialist shopping centre REIT, Hyprop, today announced progress on its strategy communicated to the market in March this year, where it stated its intention to reduce its exposure to sub-Saharan Africa excluding South Africa to focus its attention and capital on its South African and Eastern European businesses. 

The USD95 million Kumasi City Mall developed by leading South African property development and investment company Atterbury has opened to become Atterbury’s fourth retail development in Ghana.

The new Kumasi City Mall in Ghana’s city of Kumasi will open on 20 April 2017.

While most of last year was a pleasing one for Hyprop shareholders, 2016 has begun on a poor note. In fact, 2015 ended with little good news from the marketplace, as the stock plunged after a months-long rally.