Founded in January 2018, GREA is a private real estate development company specialising in the turnkey construction of accommodation for multinational corporates and retailers wishing to expand their operations on the African continent. For qualifying investors, GREA provides direct real estate exposure to high-yielding US-dollar denominated rental income streams and robust growth potential.
With the exception of some countries and metropoles, the development of commercial real estate on the African continent is largely in its infancy with assets in key nodes mostly being owner developed or developed specifically for international companies.
The opportunity for bespoke turnkey developments in select African countries was recognised by Greg Pearson and Bronwyn Knight, founding members Grit Real Estate Investment Group (“Grit”). Founded in 2014, Grit is the largest pan-African real estate income group listed on the main market of the London Stock Exchange and the Stock Exchange of Mauritius. Grit currently operates across seven countries, with direct investments in five asset classes and 25 assets valued at circa USD800 million.
Since Grit is not mandated to assume development risk, the founders incubated GREA to address the significant demand from multinational companies seeking quality real estate solutions on the continent and the limited supply of experienced developers to fulfil their requirements.
GREA is a private real estate development company with a permanent capital structure resident in Mauritius. The Company holds a Mauritian Category I Global Business Licence and develops and invests in the following real estate classes across the African continent (excluding South Africa):
GREA partners with select multinational corporations on the development of their corporate accommodation needs on the continent. The Company’s development pipeline is financed using a combination of debt raised through bank finance, own equity, partnership equity as well as equity raised through a private placement of ordinary shares to pre-selected institutional investors.
GREA leverages its balance sheet to provide equity investors with superior, US dollar-based returns through hard currency rental income streams and development uplift on disposal of an asset. In this regard, GREA has an evergreen option to hold or dispose of assets, depending on the business cycle.
In addition to its own track record of delivering property developments on the continent, GREA has formed strategic relationships with several established property development companies to access quality deal flow and local expertise.
In turn, GREA offers these developers much needed equity investment, improved access to global best practice and access to multi-national tenants, affordable bank funding and debt capital markets.
GREA is managed by African Property Development Managers Limited, which is a Mauritian registered asset management company holding a Category I Global Business Licence (GBL1).
We ignite the furnace of growth in Africa, By pioneering & collaborating to construct bridges that unlock opportunities across inaccessible African territories, To generate sustainable returns for generations to come, for all stakeholders including the people of Africa!