Mara Delta property fund buys properties in Mozambique

26 July 2016

Pan-African real estate investment fund Mara Delta Property Holdings will invest US$110 million in the acquisition of four properties in Mozambique, the company’s new business and development director, Greg Pearson said in Maputo on Monday.

Pearson said the fund was currently engaged in the project to remodel a building belonging to US group Anadarko Petroleum.

Expressing confidence in the economic future of Mozambique, “facing challenges that are not unique amongst emerging countries,” Pearson recalled that since 2014 Mara Delta had acquired six properties in the country, with a value currently estimated at US$160 million.

Pearson said he was currently negotiating a loan package with lenders with a pay-off period of between seven and 10 years, to refinance debt contracted locally and to finance the planned purchases.

Mara Delta Property Holdings, formerly known as Delta Africa, was involved in the construction of the headquarters of mobile phone company Vodacom Mozambique and of the Anadarko Petroleum group in Maputo.

Listed on the Johannesburg and Mauritius stock exchanges, Mara Delta has a portfolio of real estate assets in Morocco, Zambia, Nigeria, Kenya and Mauritius. (macauhub/MZ)