South African real estate investment firm, Lango, has completed a landmark deal worth over US$200 million, acquiring prominent retail properties including the Accra Mall, West Hills Mall, and Kumasi City Mall in Ghana.
This strategic move is part of Lango’s broader initiative to expand its footprint across African markets with a focus on retail real estate.
The transaction significantly boosts Lango’s portfolio, which now spans high-quality commercial assets across four African countries: Ghana, Zambia, Nigeria, and Angola.
In Ghana, Lango already holds key properties such as the Achimota Retail Centre, Accra Financial Centre, and the headquarters of both Stanbic and Standard Chartered Banks.
The company’s holdings also extend beyond Ghana, including Manda Hill Shopping Centre in Zambia and The Wings office complex on Victoria Island in Lagos, Nigeria. Additionally, Lango is set to strengthen its position in Africa with acquisitions like the Ikeja City Mall in Lagos and further investment in the Kumasi City Mall.
Thomas Reilly, CEO of Lango, highlighted the importance of this transaction in solidifying the company’s status as a dominant player in the real estate sector across Sub-Saharan Africa.
“This transaction is a significant milestone for Lango and not only fits squarely into our growth strategy, but is also highly accretive. The scale achieved by Lango undoubtedly positions it as a leading Sub-Saharan African firm in the industry. Lango will now have US$875 million of assets under management across four countries, with arguably some of the best-performing landmark commercial properties across both the retail and office sectors in select growth cities,” Reilly stated.
Lango, which commenced operations in March 2018, has rapidly established itself as a leading name in African real estate, with assets now exceeding US$600 million.
Focused on acquiring prime commercial properties in key gateway cities, Lango continues to seek opportunities that deliver compelling and sustainable returns for its investors while bolstering its presence in major markets across the continent.
The firm’s latest acquisitions are expected to enhance synergies across its diverse portfolio, enabling sustained growth and resilience amid varying market conditions.