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Mara Delta puts another $110m to work in Mozambique

Mara Delta, a listed pan-african property fund is planning to back Mozambican real estate with an additional $110 million. According to reports the capital will be used to acquire four additional properties as well as support the second phase of development for its Anadarko building in Maputo.

The company has invested in six landmark properties since 2014 valued at $160 million including the Hollard and Vodacom buildings. Despite the slowdown in economic growth on the continent, the company remains confident of the long-term outlook for the countries in which it has invested. With long leases in place and a diversified mix of assets in Mozambique, the company feels it is well-positioned to manage through the economic cycle.

“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,” the company’s head of developments Greg Pearson was reported as saying.

Mara Delta came into being via the merger of Mara Diversified Property Holdings and Delta Africa in late 2015. The firm is listed on both the Mauritian and South African exchanges. In addition to its property portfolio in Mozambique, the firm owns assets in Kenya, Mauritius, Morocco, Nigeria and Zambia.

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