12 °c
London
Tuesday, February 7, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Mara Delta expands in Mozambique

FurtherAfrica by FurtherAfrica
December 7, 2016
in Africa, Construction, Development, Economy, FDI, Finance, Industry and Commerce, Infrastructure, Mozambique, Private Equity, Real Estate, Trade
Reading Time: 1 min read
1.5k 78
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

JSE-listed Mara Delta, which operates as a property fund, has bought a property in Mozambique for almost R340 million (USD25.1M).

The property is home to the largest mall in the region and boasts tenants such as Shoprite, and KFC.

The company, which has previously expressed its interest in expanding into Mozambique, has done the deal indirectly as its wholly-owned subsidiary, Delta International Mauritius, has bought Gerania – which owns Mall de Tete – from Sericea Holdings and Transformers Investment.

Gerania holds 99.9 percent of Mall de Tete, which has the right of use and development of a property in Tete, Mozambique on which the retail
shopping centre, known as Mall de Tete, is located.

Mall de Tete, which was been developed by McCormick Property Development, opened on December 1.

Mara Delta says the deal makes sense because it is in line with its investment strategy to acquire rural retail centres in under-serviced markets, which meet the rigid investment criteria of strong counter-parties, underpinned by long-term dollar-based leases.

It notes a 3-year net income guarantee for the entire mall is in place, the bulk of which are agreed to in dollars, and the mall will be the shopping destination in Tete and the surrounding region.

The property has strong multi-national anchor tenants including Shoprite and Choppies, and other tenants include Pep, Jet, Woolworths, Studio 88 and KFC.

“Tete is considered as a major hub for economic growth in Mozambique. The region is currently experiencing a significant economic boost after major international mining companies injected billions of dollars into developing one of the world’s largest unexploited coking coal basins.”

The deal is subject to the usual conditions, and the purchase price may vary depending on warranties.

Source: IOL

Related

Tags: Atlas MaraJetKFCMall de TeteMara DeltaMcCormick Property DevelopmentMozambiquePepSericea HoldingsShopriteStudio 88TeteTransformers InvestmentWoolworthsモザンビーク莫桑比克
ScanSendShare622Tweet389Share109Pin140Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Women

Supporting women leaders and aspirants to unleash their potential

by Elizabeth Khumalo
February 7, 2023
Agriculture

Strengthening antimicrobial resistance surveillance through One Health approach in Zimbabwe

by Rafael Carvalho
February 7, 2023
Climate

Experts converge to find solutions for climate change challenges

by FurtherAfrica
February 7, 2023
Logistics

Ethiopia inaugurates US$68M Dire Dawa Dry Port and Terminal

by FurtherAfrica
February 7, 2023
Finance

2nd African Infrastructure Financing Summit brings US$160B worth of projects

by Fabio Scala
February 7, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Women

Supporting women leaders and aspirants to unleash their potential

by Elizabeth Khumalo
February 7, 2023
0

UN Women Ethiopia in collaboration with Amhara BoWCSA linked 218 women leaders including aspirants to support each other in two...

Read more

Strengthening antimicrobial resistance surveillance through One Health approach in Zimbabwe

February 7, 2023

Experts converge to find solutions for climate change challenges

February 7, 2023

Ethiopia inaugurates US$68M Dire Dawa Dry Port and Terminal

February 7, 2023

2nd African Infrastructure Financing Summit brings US$160B worth of projects

February 7, 2023

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 100,736 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?