The property portfolio comprising East Park Mall, Acacia Park and Jacaranda Mall was developed by the Casilli Group, led by Diego Casilli, a Zambian based entrepreneur, in partnership with several other local entrepreneurs.

East Park Mall is a well located multi-tenanted lifestyle shopping centre, located on the corner of Thabo Mbeki and Great East Road in Lusaka, featuring approximately 80 retailers .The first phase of the East Park Mall development was completed in December 2014 and comprises approximately 22,364m 2 of gross lettable area.

Acacia Park is a well located multi-tenanted office park located on the corner of Thabo Mbeki Road and Great East Road in Lusaka, adjacent to the East Park Mall. The total GLA is 12,700m² and the third phase development to the building was completed in June 2011.

Jacaranda Mall is a well located multi-tenanted shopping centre located on the corner of Kabwe Road and Mushili Road, in Ndola. The total GLA is approximately 14,020m2 and the third phase of the shopping centre was completed in May 2013.

The Proposed Transaction is consistent with SA Corporate’s strategy of investing in a diversified portfolio that generates stable and growing income and capital gains and represents SA Corporate’s first acquisition beyond the borders of South Africa. 

"The retail sector in Zambia is expected to see strong growth given large current and potential investments in malls and the expansion of retailers. Zambia is also facing a housing shortage particularly in the urban areas and in growing towns in the Copper Belt and North Western Province, providing potential for SA Corporate to expand its," the fund said.

The Proposed Transaction will provide SA Corporate with geographical diversification as well as a platform for further investment opportunities into Africa. The investments in the Mauritian Entities are intended to lay the platform for a joint venture partnership with the Casilli Group, with the aim of expanding the Mauritian Entities’ Property Portfolio in Zambia over time.