Real estate company Lango is in South Africa as they are committed to provide investors with strong and long-lasting profits by acquiring premium commercial properties in strategic gateway cities throughout Africa. This Company has taken over the West Hills Mall, Kumasi City Mall, and Accra Mall. This comes after a fresh agreement worth over $200 million US was completed. The action is a part of Lango’s plan to expand its retail business strategy into new African markets.
Thomas Reilly CEO of Lango.says “This transaction is a significant milestone for Lango and not only fits squarely into our growth strategy, but is also highly accretive. The scale achieved by Lango undoubtedly positions it as a leading Sub-Saharan African firm in the industry. Lango will now have US$875 million of assets under management across four countries, with arguably some of the best-performing landmark commercial properties across both the retail and office sectors in select growth cities. These assets are well-positioned to allow Lango to extract synergies and further enhance growth with a high degree of resilience to differing market cycles”
Since starting operations in March 2018, Lango has grown significantly and is becoming a leader in the asset class in Africa, with assets totaling more than US$600 million on its balance sheet
SOURCE https://dew360.net
