Mara Delta to inject R1.5bn towards Mozambican property market
Despite Africa’s slowdown, Mara Delta remains bullish under the African growth story, with the company announcing that it will invest a further R1.580bn (US$ 110 million) into Mozambique real estate market.
Real estate investors who jumped on the “Africa rising” bandwagon and thought they could make a quick buck out of the continent’s seemingly strong and growing middle class have had a rude awakening.
The effects of currency and liquidity crises has been sharply felt across the continent but most notably in the larger oil driven commodity exporting countries.
But that doesn’t mean it is the end of the African growth story according to pan-African multi-listed property fund, Mara Delta which is set to become continent's property powerhouse.
The company said on Monday, that the investment will be channelled to acquire additional four properties, as well as the second stage development of its Anadarko building in the capital city of Maputo.
Mara’s head of developments Greg Pearson says the company is... TO GET THE FULL STORY, CLICK HERE FOR MORE
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