Lango, a South African real estate investment firm, has significantly bolstered its presence in the African market with the acquisition of three major shopping centers in Ghana—Accra Mall, West Hills Mall, and Kumasi City Mall—in a deal exceeding $200 million.
The transaction forms part of Lango’s broader strategy to deepen its retail footprint across the continent.
With the addition of these prime Ghanaian assets, Lango’s portfolio now encompasses high-quality commercial properties across Ghana, Zambia, Nigeria, and Angola.
This acquisition builds on its existing holdings in Ghana, including the Achimota Retail Centre, Accra Financial Centre, and the headquarters of both Stanbic and Standard Chartered.
Lango’s CEO, Thomas Reilly, hailed the acquisition as a pivotal moment for the firm, noting that it aligns seamlessly with their growth strategy.
“The scale achieved by Lango undoubtedly positions it as a leading Sub-Saharan African player in the real estate sector,” Mr Reilly said.
With this deal, Lango’s assets under management have surged to $875 million, spanning four countries and featuring some of the region’s most prominent commercial properties.
Founded in 2018, Lango has swiftly ascended the ranks in Africa’s real estate market, now commanding a portfolio valued at over $600 million.
The firm remains focused on acquiring prime commercial assets in key gateway cities, aiming to deliver sustainable returns to investors while navigating the continent’s diverse market cycles.
Norvanreports