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SUBSIDIARY NAME

THE VAAL RIVER STUDENT VILLAGE

COUNTRY

SOUTH AFRICA

SECTOR/ INDUSTRY

CONSTRUCTION/ DEVELOPMENT

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

April 7, 2021

ACQUISITION VALUATION

632 MILLION

TOTAL ASSET VALUATION

6.32 BILLION

REAL ESTATE

The Vaal River Student Village: IIB-DG acquired The Vaal River Student Village. This is the first purpose “green built” student village in the Vaal triangle, adjacent to the North West University’s Vaal Campus (NWU), and within walking distance from Vaal University of Technology (VUT). The funding will be utilized for transferring land parcels and construction purposes to build student housing in the Emfuleni area to improve current accommodation that is dilapidated, unhygienic and unsafe.

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