Photo: Nicholas Rama
Pretoria – Mara Delta, the Pan African focused real estate fund listed on the JSE and Stock Exchange of Mauritius, is setting up a subsidiary with the primary objective of investing into hospitality sector properties.

These will be focused on the Indian Ocean islands, including Madagascar, Seychelles and Mauritius.

The company said on Tuesday that the properties the subsidiary would invest in would have triple net, long-term leases.

The subsidiary was expected to apply in due course for a listing of its preference shares on the official market of the Stock Exchange of Mauritius, it said.

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Mara Delta also reported the introduction of the National Pension Fund Mauritius (NPF) as a key investor.

It said the NPF would invest $12.84 million (R161.13 million).