Thursday, 31 March 2022. Hyprop Investments Limited (Hyprop) is pleased to announce that it has increased its shareholding from 78% to 100% in Hystead\u2019s four premium shopping centres in Eastern Europe, namely Skopje City Mall in North-Macedonia; City Center one East and City Center one West in Croatia; and The Mall in Bulgaria.<\/p>\n
As a result of this transaction, Hyprop\u2019s Eastern European exposure has increased to 32% of the Group\u2019s total investment property. This is in line with the company\u2019s diversification strategy to increase its exposure to Eastern Europe, diluting the company\u2019s exposure to the weaker South African economy. In addition, the transaction simplifies the group structure and normalises the accounting treatment of the investment in Hystead.<\/p>\n
\u201dWe have fulfilled all the conditions of the Hystead transaction, including shareholders\u2019 approval at the General Meeting held on Friday, 25 March 2022. At the meeting, 79.7% of the issued shares were voted, of which 99.9% voted in favour of the transaction,\u201d Morn\u00e9 Wilken, CEO of Hyprop, commented.<\/p>\n
The Eastern Europe portfolio fits Hyprop\u2019s strategy of holding dominant retail centres in their respective catchment areas. The focus remains the retention of these centres\u2019 dominance through active asset management, strategic redevelopments and refinancing or settling the Euro equity debt. The experienced in-country asset management and property management teams will join Hyprop, which ensures that we retain continuity and in-country know-how.<\/p>\n
Hyprop remains focused on creating safe environments and opportunities for people to connect and have authentic and meaningful experiences, thereby creating long-term sustainable value for all stakeholders.<\/p>\n
\u201cThe key priorities for the next six months will be implementing the disposal of Delta City Podgorica; continuing to strengthen our balance sheet; annual reviews of our portfolio to ensure we retain assets that fit our strategy; continued repositioning of our portfolio; and implementing ESG initiatives,\u201d Wilken concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
Thursday, 31 March 2022. Hyprop Investments Limited (Hyprop) is pleased to announce that it has increased its shareholding from 78% to 100% in Hystead\u2019s four premium shopping centres in Eastern Europe, namely Skopje City Mall in North-Macedonia; City Center one East and City Center one West in Croatia; and The Mall in Bulgaria. As a […]<\/p>\n","protected":false},"author":4,"featured_media":4362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-4360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-members-news"],"featured_image_src":{"landsacpe":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2022\/03\/Hyprop-successful-1-1140x445.png",1140,445,true],"list":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2022\/03\/Hyprop-successful-1-463x348.png",463,348,true],"medium":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2022\/03\/Hyprop-successful-1-300x78.png",300,78,true],"full":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2022\/03\/Hyprop-successful-1.png",1920,500,false]},"_links":{"self":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts\/4360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/comments?post=4360"}],"version-history":[{"count":0,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts\/4360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/media\/4362"}],"wp:attachment":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/media?parent=4360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/categories?post=4360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/tags?post=4360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}