GROWTHPOINT
Growthpoint comes to the party
The company Growthpoint plans to inject capital into its African and Eastern European businesses in 2017
Norbert Sasse, CEO of SA’s largest locally based property group, Growthpoint Properties, says the firm will inject capital into its African and Eastern European businesses in 2017. Some commentators have been critical of Growthpoint for being late to the party in Eastern Europe, with rivals such as Redefine Properties and Resilient Reit having made large investments there already. Growthpoint has also been criticised for not investing aggressively enough in its African project, launched late last year. Last week, Growthpoint announced it would acquire a 26.9% stake in Globalworth Real Estate Investment, the largest owner of office space in Romania. Globalworth is listed on London’s Alternative Investment Market. Growthpoint would make an initial €186.4m (R2.7bn) investment in the group. The investment would launch Growthpoint’s Central and Eastern European strategy, Sasse said. "Some people felt that we were a bit vague about our east European investment announcement last week. More...
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