Hyprop Investments
South Africa's Mall Specialist Hyprop Investments limited is one of the top real estate investment trusts in South Africa Writer Matt Bone Project Manager Stuart Shirra Hyprop is South Africa's largest specialist shopping centre real estate investment trust, currently listed on the Johannesburg Stock Exchange. It is the third largest real estate investment trust in the country and one of South Africa's oldest listed property companies. The company currently has R25 billion of assets under management, which includes 12 prime shopping centres in South Africa. Hyprop have exposure to malls in the rest of Africa through Atterbury Africa, a joint venture with Attacq Limited. Atterbury Africa has a 47 percent interest in Accra mall in Accra, Ghana and effective from the 1st July this year, 50 percent in Manda Hill Shopping Centre in Lusaka, Zambia. at 43 400m2, Manda Hill is the first regional shopping centre in Zambia and the largest in sub- Saharan Africa outside of South Africa. Development and Innovation Over the last two years, the company has undertaken an extensive redevelopment of Rosebank mall in Rosebank, Johannesburg, which is on track for completion in October 2014. Hyprop is expanding the mall from 36,000m2 to 62,000m2 and the number of stores will rise from 93 to 147. the approximately R930 million development is set to considerably boost economic growth in the Rosebank node and provide shoppers and tenants with a refreshed, world-class shopping facility. CEO Pieter Prinsloo says: "this is one of our largest developments to date and aligns with our strategy of enhancing…
