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Background

Gateway Delta 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, Gateway Delta 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 Corbett, 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, the Johannesburg 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 Gateway Delta 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.

Gateway Delta 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):

These properties will be tenanted by blue chip multinational corporations who have the ability to enter into US dollar denominated or US dollar-linked long-term lease contracts.

Gateway Delta’s objectives are to:

  • Partner with global companies on their real estate solutions across Africa;
  • Achieve long-term capital appreciation by investing in real estate developments across the continent (excluding South Africa);
  • Actively develop a portfolio of real estate assets with quality leases and strong counterparties;
  • Build diverse revenue streams and create long-term franchise value; and
  • Promote community development through participating in social infrastructure investments in education, student accommodation and health care.

Strategy

Gateway Delta’s development pipeline will be 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.

Gateway Delta’s strategy is to partner with select multinational corporations on the development of their corporate accommodation needs on the continent.

It further anticipates leveraging 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 Gateway Delta 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, Gateway Delta has formed strategic relationships with several established property development companies to access quality deal flow and local expertise.

In turn, Gateway Delta will offer 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.

Gateway Delta will be managed by African Property Development Managers Limited, which is a Mauritian registered asset management company holding a Category I Global Business Licence (GBL1).