New giant in property market - Atterbury Europe acquires stake in MPC Properties

In addition, the parties seeded a 50/50 development fund to develop a pipeline of retail real estate assets in Serbia and neighbouring countries in the Balkans. The venture is the beginning of a powerful property development partnership.

As announced by Louis van der Watt, CEO of Atterbury Group, the aim of the newly established partnership is to develop and invest in shopping centres in Central and Eastern Europe, with an immediate focus on fast-developing Eastern European markets.

According to him, Serbia enjoys growing multinational retailer demand but has a scarcity of shopping centre space, which makes it a perfect choice for investment in shopping centres.

Atterbury Europe and MPC Properties own four smaller shopping malls in Belgrade as well as another two in Subotica, and their main project is the biggest shopping centre in the capital city - Usce.

Atterbury Europe focuses on shopping centre investments and retail development opportunities in Europe jointly with local European partners and Attacq, particularly the eastern European region. In July 2015, it made its first landmark investment in a €200-million retail portfolio in Cyprus.

South Africa's property development company Atterbury Group founded Atterbury Europe in 2014 in cooperation with foreign partners, with the aim of expanding the business to the markets of central and eastern Europe.

The Atterbury Group is engaged in the construction of retail, residential, industrial and business space and in the property lease and management, and it also operates through the investment fund Attacq, which was established in 2005.