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South Africa Taps Gulf Know-How for $9.5 Billion Property Plan
Source: Bloomberg
Sovereign Debt & RatingsHousing & Real EstatePrivate Markets & VentureManagement & Governance
Middle Eastern sovereign wealth funds have advised South Africa to establish a fundraising vehicle for a proposed state company that would manage the government's 155 billion-rand ($9.5 billion) property portfolio. The initiative could improve the professional management and capital-raising capacity of state-owned real estate assets, though execution details and investor commitments were not disclosed.
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