South African company Old Mutual Properties is on the hunt for US and European joint venture partners to invest in South African retail property.
Old Mutual managing director Ian Watt said there had been significant interest from Real Estate Investment Trusts, but refused to confirm that he had held discussions with US shopping centre giant Simon Property Group.
In addition to its South African retail expansion drive, OM plans to float on the UK stock exchange in six months’ time. Watt said: “We are marketing South Africa as an investment destination. We plan to set up a vehicle with an overseas partner so that we can invest in the overseas market, in the form of asset swaps.”
