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Acucap launches KwaZulu-Natal foray.

Business Day (South Africa)

| August 31, 2006 | COPYRIGHT 2008 Johnnic Communications. (Hide copyright information)Copyright

(From Business Day (South Africa))

Byline: Nick Wilson

Acucap launches KwaZulu-Natal foray Property Correspondent PROPERTY loan stock company Acucap Properties is acquiring a 58% stake in retail property Hillcrest Corner in KwaZulu- Natal for about R150m. Acucap MD Paul Theodosiou said the property was being developed and would be completed in March. When completed the property would consist of a 19200m shopping mall, he said. This was Acucap's first foray into the KwaZulu-Natal market. Acucap had a predominantly Gauteng- and Cape-based property portfolio. We believe it will be the dominant shopping centre in the fast-growing Hillcrest area. The growth we see …

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