Istithmar World is selling its share in the Victoria and Alfred Waterfront shopping and entertainment development in Cape Town as part of an almost Dh5 billion (US$1.36bn) deal.
Growthpoint Properties and the Public Investment Corporation, a state pension-fund management company, have agreed to acquire 100 per cent of the development for 9.17bn rand (Dh4.62bn), it was announced yesterday.
Growthpoint is South Africa's largest publicly traded property investment company.
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