MAS completes the disposal of six Romanian open-air malls

Johannesburg-listed real estate investor MAS (JSE: MSP), backed by Africa's largest pension fund, announced it has completed the transaction with AFI Europe, controlled by Israeli billionaires Roni and Yehuda Naftali, through which it sold 6 open-air shopping centres in Romania for a price of almost EUR 200 million. At an asset value of around EUR 281 million, this becomes the largest transaction ever signed in the retail sector of the local real estate market.

Specifically, the South African investor sold its shopping centres in Ploiești, Zalău, Roman, Baia Mare, Sfântu Gheorghe, and Bârlad. The shopping centres generate EUR 22.7 million annually from the rental of the spaces.