In a landmark $200 million deal, a South African real estate investment firm, Lango, has taken over three of Ghana’s largest retail shopping malls: Accra Mall, West Hills Mall, and Kumasi City Mall. This strategic acquisition marks a significant expansion of Lango’s presence in Sub-Saharan Africa.
Lango now manages $875 million worth of assets across four African countries. These include some of the top-performing commercial properties in both the retail and office sectors, located in high-growth cities. Reilly highlighted that the acquisition enables the firm to leverage synergies and drive further growth with resilience to changing market conditions.
This development comes amid concerns about profitability and an unfavorable investment climate in Ghana, leading several multinational companies to exit the market or undergo takeovers.
According to a report, the acquisition is part of Lango’s broader strategy to enter and grow within African markets, focusing on retail real estate. The firm also holds commercial real estate assets in Nigeria, Angola, and Zambia.
Lango’s acquisition signals continued interest from international investors in Ghana’s retail sector, despite the economic challenges facing the country.
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