Liberty Group announced today that it had taken full ownership of Sandton's Nelson Mandela Square after paying R231 million for the 22.97% interest previously held by Transnet Pension Fund.

Samuel Ogbu, chief executive of Liberty Properties, said that the deal was agreed upon in July, but the transfer was completed on September 25.

Liberty, which owns 75% of Sandton City, recently announced plans to invest R1.77 billion in the expansion and refurbishment of the complex.

"Full ownership of the Square positions us to draw full value from that strategy as it takes shape in the coming months," added Ogbu.

Source: I-Net Bridge