Reuters - V&A Waterfront, South Africa's tourist hot spot, was sold for R10bn to a consortium that includes Absa Group [JSE:ASA] and Growthpoint Properties [JSE:GRT], the Mail & Guardian newspaper said on Friday, citing two people briefed on the deal.
The real estate was sold by Britain-based London & Regional Properties and Dubai-based investment firm Dubai World, the paper said, adding L&R Properties would take cash and Dubai World would take cash and shares.
Government pension fund Public Investment Corp, which manages $132bn in assets, was also cited as one of the buyers.
The property previously belonged to state-owned logistics group Transnet, which sold it for R7bn to L&R Properties and Dubai World in 2006.
The real estate was sold by Britain-based London & Regional Properties and Dubai-based investment firm Dubai World, the paper said, adding L&R Properties would take cash and Dubai World would take cash and shares.
Government pension fund Public Investment Corp, which manages $132bn in assets, was also cited as one of the buyers.
The property previously belonged to state-owned logistics group Transnet, which sold it for R7bn to L&R Properties and Dubai World in 2006.