Africa > East Africa > Mozambique > Maputo City > Mara Delta to invest $110m more on property in Mozambique

Maputo city: Mara Delta to invest $110m more on property in Mozambique

2016/07/27

On Monday it will invest a further $110m in Mozambique by acquiring an additional four properties, and the second stage development of its Anadarko building.

The company has, since 2014, invested in six commercial properties in Mozambique, valued at $160m.

“We are confident of the long-term increase prospects in Mozambique. The challenges that the country faces are not incomparable 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,” said the company’s chief of developments Greg Pearson.

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

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

Mara Delta has a management team with over 45 years combined African experience and relationships, and in-country investment and property management teams.

CEO Bronwyn Corbett said Mara Delta was focused on creating significant shareholder price, which ensured consistent increase on the African continent.

Mara Delta is listed in Johannesburg and Mauritius and as well holds a portfolio of assets in Morocco, Zambia, Nigeria, Kenya and Mauritius.

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