13 August 2014

Zambia: U.S. $200 Million Staked for Property

A JOHANNESBURG Stock Exchange (JSE)-listed property fund plans to look for acquisition in Zambia and five other countries in the region.

Delta International Property Holdings limited (DLI), the first JSE-listed property fund to offer investors direct access to high growth opportunities in Africa has identified an acquisition pipeline of more than US$200 millions.

Delta chief executive officer Louis Schnetler said apart from Zambia, the fund was in the second phase, targeting acquisitions in Angola, Gabon, Tanzania, Tunisia and Zimbabwe.

Delta is further targeting properties in Ghana and Nigeria in its 'next wave' of acquisitions. He said that the fund would use the US$200-million pipeline for acquisitions in these countries.

"Delta is, meanwhile, targeting properties in Ghana and Nigeria in its 'next wave' of acquisitions, the fund had identified an acquisition pipeline of more than US$200million.

"In the second phase it will also be looking for acquisitions in Zambia, Angola, Gabon, Tanzania, Tunisia and Zimbabwe," Mr Schnetler said.

He said Delta would largely focus on retail and office property acquisitions and to some extent industrial and hotel sites.

Mr Schnetler added that the company envisaged owning a property portfolio valued at US$1billion in the next three to five years but had "a focused and not a shotgun approach to acquisitions."

Delta International Property Holdings Limited is a real estate investment firm specialising in investments in shopping centres and office blocks.

The firm, which was founded in 2012 and is based in Hamilton, Bermuda, seeks to invest in African continent.

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