September 26, 2018

Hyprop & AttAcq explore disposal of Sub-Saharan Africa shopping centre assets

Dolapo Omidire

Hyprop and AttAcq are currently investigating a reduction of their exposure to sub-Saharan Africa (ex. SA) through the disposal of their portfolio of property assets worth over $630m.

Assets in the portfolio in question include Ikeja City Mall in Lagos – Nigeria; Manda Hill in Lusaka, Zambia and four retail centres in Ghana including Accra Mall, West Hills Mall, Achimota Mall, and Kumasi Mall.

Investors who are currently seeking income-producing assets in Sub Saharan Africa include Growthpoint Investec Africa Properties, who launched operations in their Pan-African real estate business with over $212m committed earlier in this year; and GRIT, the pan-African real estate income fund who recently concluded their listing on the London Stock Exchange.

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