Business 6.12.2017 11:23 am

SA’s Vukile Property Fund goes on €10bn shopping spree in Spain

Image courtesy stock.xchnge

Image courtesy stock.xchnge

JSE-listed Vukile Property Fund said on Wednesday it was buying two shopping centres in Spain for €10.7 billion, to increase its exposure in the European country.

Vukile said its subsidiary Castellana Properties Socimi had entered into an agreement with lvores Investments to acquire Alameda Shopping Centre and Retail Park, and another with Euro-Activ-Group to acquire the San Pedro Del Pinatar Retail Park.

In July, Vukile announced the acquisition by Castellana of a portfolio of nine retail parks.

The company has a presence in South Africa, the United Kingdom, and Spain.

Vukile Property Fund boosts retail clout

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