Dubai firm buys stake in wildlife resorts
Melanie Peters
June 28 2008 at 02:32PM

Dubai World Africa has bought up major shares in three lucrative South African wildlife reserves as part of its plans to spend nearly R12,5-billion buying "high end property" across the continent over the next five years.

The company - which has already spent R7-billion in acquiring the V&A Waterfront, its "flagship investment" - said that a substantial part of its spending in the next five years would be in the Western Cape.

Dubai World Africa bought shares in Shamwari Game Reserve, Sanbona Wildlife Reserve and Jock Safari Lodge, parts of the Mantis Collection recently.

Sanbona Wildlife reserve is between Montagu and Barrydale in the Western Cape, two-and-a-half hours' drive by car from Cape Town. It consists of 54 000 hectaresof pristine Karoo landscape and years ago comprised about 30 farms. Jock Safari lodge is in the Kruger National Park and Shamwari is in the Eastern Cape.

Dubai World Africa is the investment arm of Dubai World that focuses on the acquisition, development and management of prime assets in Africa and the Indian Ocean islands.

A statement from the company said the land deal was in line with the group's strategy to acquire high-end assets in key destinations across the world.

"The three well-established game reserves will enhance Dubai World Africa's portfolio of prime African properties."

This article was originally published on page 1 of Cape Argus on June 28, 2008