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Encha acquires De Bruyn Park Building in Tshwane

22 June 2011

Encha is pleased to announce that it has acquired De Bruyn Park Building in Tshwane for a cash consideration of R182 Million. The building measures 36 000m2

Tiego Moseneke had this to say about the acquisition:

"We assert our long-denied and hard-fought right to own property in our country. We reserve our right to tenant our properties with any tenant of our choice. All our businesses, and in particular our acquisition of property, is done in a lawful manner, and in compliance with the highest ethical standards. The rentals we offer our tenants are market related, and offer excellent value for our tenants. We will continue with our objective of acquiring 1 million m2 of property in South Africa in the next number of years.”

Sedise Moseneke, the CEO of Encha Properties, said: “The acquisition of De Bruyn Park is consistent with our objective of building a significant property business. Our relationships with financial institutions, clients and potential sellers of property in the country stems from experience, industry knowledge, honesty, reliability and dependability.The acquisition is yet another indication of our commitment towards the betterment of our cities. We are bullish about downtown Tshwane, and we want to contribute towards its revitalisation. We intend to spend a further R21 Million upgrading De Bruyn Park Building. “

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