Hyprop acquires interest in Skopje City Mall in Amsterdam

Hystead Limited (Hystead), a UK company co-owned by Hyprop Investments Limited (Hyprop) and PDI

Investment Holdings Limited (PDI), today announced that it has acquired the Macedonian mall, Skopje

City Mall, purchased from Balfin Finance BV, Amsterdam. The total purchase consideration is EUR 92

million.

skopje-city-mall-1of3Skopje City Mall is the dominant mall in the Macedonian capital of Skopje and the largest in the country.

Skopje has a population of approximately 534,000 people. The mall offers 37,600m² of retail GLA and

131 tenants including Zara, Terranova, Koton, LC Waikiki, Bershka, New Yorker and Fashion & Friends.

Opened in October 2012, the mall is a modern, multilevel centre located approximately 3km west of the

city centre.

Pieter Prinsloo, Hyprop CEO says that “our objective is to own a high quality shopping centre portfolio in

South-Eastern Europe. Macedonia is a small, open economy which has taken great strides to strengthen

their economy over the last decade. The World Bank estimates Macedonia’s real GDP growth of 3,3% for

2017. Skopje City Mall’s high occupancy, promising footfall, balanced tenant mix and expansion

opportunities ensure that it is an attractive investment. The mall’s current management team will

remain to ensure the retention of critical skills. Our expectation is that the investment will enhance

Hyprop’s income distributions.”

skopje-city-mall-2of3Hyprop’s South-Eastern Europe strategy is to acquire dominant shopping centres through Hystead.

Hyprop has a 60% interest in Hystead and PDI, a company presented by Louis Norval, has the remaining

40%. Hystead now owns three properties in South-Eastern Europe, namely Delta City Podgorica

(Montenegro), Delta City Belgrade (Serbia), both purchased earlier this year and today’s acquisition,

Skopje City Mall (Macedonia).