Doing business in the EU

South Africa’s Hyprop buy Zagrep’s City Centre One – South Africa doing business in Europe

The South African Hyprop company has acquired a 90% stake in the Zagrep City Centre comping complexes. The transaction totals 154 million euro.

City Centre one East holds over 50.000m2 of shopping surface but covers 130.00m2 in total. There are 2.400 free parking places, including special “family” parking places – 50% larger parking spots reserved for large families doing some serious shopping. The whole shopping centre is disabled and children friendly.

Zagreb is the capital and the largest city of Croatia. It is located in the northwest of the country, along the Sava river, at the southern slopes of the Medvednica mountain. Zagreb lies at an elevation of approximately 122 m (400 ft) above sea level. The estimated population of the city in 2018 is 809,773. The wider Zagreb metropolitan area includes the City of Zagreb and the separate Zagreb County bringing the total metropolitan area population up to 1,128,773. It is the biggest metropolitan area in Croatia and the only one with a population of over one million.

Hyprop’s South-Eastern Europe strategy is to acquire dominant shopping centres through Hystead. Hyprop has a 60% interest in Hystead and PDI, a company associated with Louis Norval, a non-executive director of Hyprop, holds the remaining 40%. Hystead owns six properties in South-Eastern Europe, namely Delta City Podgorica (Montenegro), Delta City Belgrade (Serbia), Skopje City Mall (Macedonia), The Mall in Sofia (Bulgaria), City Center one Zagreb West and City Center one Zagreb East in Zagreb (Croatia)

Andre Beukes LLM

Andre Beukes LLM

André Beukes is an EU Management Consultant to international companies doing business in Europe. He provides clients with practical business support that makes a real difference doing business in the EU. “Put simply, I am here to help you meet your challenges. I believe in the importance of doing things correctly, meaning risks are reduced and problems are avoided.”

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