South Africa's MAS Real Estate sells properties in the UK to invest in Romania
South African-owned property investor and operator listed on the main board of the Johannesburg Stock Exchange, MAS Real Estate, announced it is selling properties worth some EUR 111 mln in the UK to invest the funds in Romania, Profit.ro reported.
The company has Africa's largest pension fund among its shareholders.
Last year, it sold EUR 195 mln of properties in Germany to channel the funds to Central and Eastern Europe, especially Romania.
The investor also has to sell shopping malls, a hotel and land in Germany and the United Kingdom worth EUR 126.9 mln.
These amounts are in addition to the 300 million euros attracted from the sale of its first "green" bonds, money that will be directed to the acquisition and development of properties, especially in Romania.
MAS Real Estate is developing shopping centers and residential complexes worth almost EUR 870 mln. Almost all projects are located in cities in Romania.
In fact, the company's management is provided by a team of Romanians coordinated by Martin Slabbert and Victor Semionov, who also laid the foundations of NEPI, today the real estate investor with the most valuable portfolio in Romania.
(Photo: Yunkiphotoshot/ Dreamstime)