The Company has since 2014 invested in six landmark commercial properties in Mozambique, collectively valued at US$160 million, including landmark buildings such as the Anadarko, Hollard and Vodacom buildings in the capital city of Maputo.
Head of Developments Greg Pearson commented:
‘’We are confident of the long-term growth prospects in Mozambique. The challenges that the country faces are not unique to emerging economies and we are continuously engaging with the Banco de Moçambique on these matters.
“Mara Delta has a solid risk strategy in place which includes careful cash flow management around investments, our ability to manage flow of funds through our liquidity facilities in Mauritius and ensuring our anchor tenants are blue chip internationals, securing most of our leases in US dollars.
“We are currently engaging with financiers for a 7 to 10 year Mozambique debt package to refinance the in-country debt and fund the acquisition pipeline.”
With a management team with over 45 years combined African experience and relationships, as well as in-country asset and property management teams, the company is focused on creating significant shareholder value ensuring consistent growth on the African continent.
“Real estate investment is a long-term play, and we certainly remain committed to the countries we invest in. We have long leases in place and have diversified our portfolio in Mozambique significantly to manage through the economic cycle,” Pearson added.
Mara Delta’s assets in Mozambique include commercial offices in key strategic nodes and the Company recently diversified into corporate accommodation as well as strategic retail centres and warehousing under triple net leases. These assets are managed in-country by Mara Delta’s local asset management team.
The Company, listed in Johannesburg and Mauritius, also holds a portfolio of assets in Morocco, Zambia, Nigeria, Kenya and Mauritius.