OFFSHORE STRATEGIES
Hyprop ‘should keep investors in the loop’
Over the past few years, the company has expanded into Ghana, Zambia and Nigeria in Africa through joint ventures
Blue-chip shopping centre owner Hyprop Investments needs to reassure investors about its European and African strategies given the pressure the domestic portfolio faces. Over the past few years, the company has expanded into Ghana, Zambia and Nigeria in Africa through joint ventures. It has also bought assets in the southern European countries of Serbia, Montenegro, Macedonia and most recently, Bulgaria as a part of the joint venture Hystead. But fund managers have been critical of a lack of disclosure about these offshore strategies. "Hyprop has decided to dilute its South African portfolio, one of the highest quality portfolios in the sector, with investments in some peripheral economies. "Their disclosure on offshore structures is lacking. Their offshore investments seem highly geared, so if there is an improvement or deterioration in these markets, it will have an amplified effect on valuation," said Evan Robins, listed property manager of Old Mutual Investment group’s MacroSolu...
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