Hystead hopes to finalize the sale of Delta City Mall Podgorica in Q1’22

PODGORICA, Montenegro, Dec. 6 (SeeNews) – UK company Hystead Limited, majority owned by South African real estate investment company (REIT) Hyprop Investments, plans to close the sale of Delta City Mall Podgorica in Montenegro in the first quarter 2022, he said on Monday.

“The sale agreement is currently under negotiation and we are confident that the transaction will be implemented in the first quarter of calendar year 2022,” Hystead said in a filing with the Johannesburg Stock Exchange.

Hystead has received a non-binding offer to sell its entire stake in the entity that owns Delta City Mall Podgorica, based on a gross property value of 95 million euros ($ 107 million) .

On December 1, Hystead announced that it had completed the sale of Delta City Mall in Belgrade, the capital of Serbia, to Balkans Real Estate BV, a wholly-owned subsidiary of Dutch company Centurion Venture Capital, and received the $ 115 million euros of proceeds from the sale. of the asset.

Hystead acquired Delta City Mall Belgrade and Delta City Mall Podgorica from Serbian company Delta Holding for € 127.8 million in February 2016.

($ = 0.88559 euro)

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