South Africans buy two malls for EUR 200 mln
Investment & financeschedule 15 February 2016
Delta City Podgorica was sold for EUR 75 mln
1 / 1
SERBIA/MONTENEGRO South African shopping centre REIT Hyprop Investments has acquired a 60 pct stake in Serbian mall Delta City Belgrade purchased from Delta Real Estate Group (Delta), and Montenegrin mall, Delta City Podgorica, purchased from Hemslade Trading Limited Cyprus (Hemslade) and Delta. Homestead Group Holdings Limited, a company associated with Louis Norval, a non-executive director of Hyprop, has acquired the remaining 40 pct of both shopping centres.
The total value of the purchase comes to EUR 202.75 mln, of which Hyprop’s effective share is EUR 121.65 mln. Delta City Belgrade was purchased for EUR 127.75 mln, of which EUR 111.94 mln is payable to Delta and the remainder will be used to settle existing debts. Delta City Podgorica has been acquired for EUR 75 mln, of which EUR 60.15 mln is payable to Delta and Hemslade and EUR 14.85 mln will be used to pay debts. UK registered company Hystead has been set up for the ownership of both s
Already have an account? Log in
71% of content remaining
Unlock full access to the article
PLN
EUR
Lifetime access to current material
One-time payment, lifetime access.
Choose
Access includes
- Lifetime access to current material
Most popular
EurobuildCEE magazine & online subscription
Access to all EurobuildCEE materials
Monthly
Annually
You save 17% when paying annually
Monthly on one device. Annual payment
Monthly on one device. Monthly payment
Choose
Access includes
- Access to EurobuildCEE magazine edition online & flipbook version
- Exclusive news, comments, articles and interviews with the most important market representatives and experts
- Archive containing data and information from the commercial real estate and construction market in Poland and the CEE region, collected over 27 years;
- Eurojobs
- Eurobuild FM
The quiet revolution in Małopolska
The quiet revolution in Małopolska
Axi Immo
Developers across the region are increasingly favouring heat pumps and photovoltaic systems over traditional gas boilers in warehouse construction. This shift marks a growing commi ...
Modular construction becomes more prominent
Modular construction becomes more prominent
Spectis
After a temporary slowdown, the modular construction market in Poland continues to expand in 2025. Although the sector faces challenges such as high material costs and investment f ...
EXPO REAL 2025: From survival mode to selective recovery
EXPO REAL 2025: From survival mode to selective recovery
Axi Immo
This year’s EXPO REAL in Munich marked a noticeable shift in tone across industry conversations. Following a period of uncertainty and postponed investment decisions, the com ...