Johannesburg - Mara Delta, the JSE-listed property fund previously known as Delta Africa, reported yesterday that it was looking into investing a further $110 million (R1.6 billion) into Mozambique.
The fund, which claims to be the first multi-listed property fund to offer international property investors direct access to immediate high growth opportunities in Africa outside of South Africa, said the proposed investment would be for the acquisition of 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, collectively valued at $160m, including the Anadarko, Hollard and Vodacom buildings in Maputo.
Greg Pearson, the head of developments at Mara Delta, said they were confident of the long-term growth prospects in Mozambique and the challenges the country faced were not unique to emerging economies and they were continuously engaging with the Banco de Mozambique on these matters.
Mara Delta shares were unchanged on the JSE at R18.75.
BUSINESS REPORT