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The other 50% stake in Fourways Mall is effectively owned by the Georgiou family. However, Accelerate’s CEO Michael Georgiou is listed as a major shareholder in the JSE-listed fund.
Accelerateâs latest R660 million write-down brings the total devaluation of its property portfolio to R1.66 billion over the last two financial years (FY 2020: just over R1 billion).