Hyprop to exit its disappointing African retail assets
The company is taking the pain now as tenants battle to make profits and pay rising rents
01 March 2020 - 17:45
Blue-chip mall owner Hyprop Investments, once a darling of the listed property sector, is struggling to find its feet as its tenants battle to make profits and pay growing rentals. At the same time the company is trying to sell its stakes in disappointing African assets.
Hyprop co-owns malls in Ghana and Nigeria. As of December 31 2019 this Sub-Saharan Africa portfolio included interests in Accra Mall and West Hills Mall in Accra, Ghana; Kumasi City Mall in Kumasi, Ghana (all held via the group’s 37.5% interest in AttAfrica); and a 75% interest in Ikeja City Mall in Lagos, Nigeria...
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