Hyprop looks to Eastern Europe for growth
Blue chip mall owner likely to buy out its European investment partner PDI Investment Holdings
Hyprop Investments, the owner of premium shopping centres including Rosebank Mall, Hyde Park Corner, Clearwater Mall and Canal Walk, is considering buying out its investment partner in Eastern Europe as it forages for growth opportunities while SA’s economy struggles through a recession.
The company owns 60% of Hystead, a joint venture with PDI Investment Holdings, which owns the other 40%. Hystead owns six malls valued at €807m (R15.8bn). These assets are located in Bulgaria, Serbia, North Macedonia, Croatia and Montenegro.