South Africa Taps Gulf Know-How for $9.5 Billion Property Plan

AI Summary

South Africa is planning a $9.5 billion property portfolio management initiative with advisory support from Middle East sovereign wealth funds. The plan includes creating a fundraising vehicle and establishing a state firm to handle the extensive property assets.

Middle East sovereign wealth funds, backed by trillions of dollars in assets, have advised South Africa to create a fundraising vehicle as part of a plan for a new state firm that will manage its 155 billion-rand ($9.5 billion) property portfolio.