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Court rules in favor of Fourways Mall owners in R1 billion insurance battle

Fourways Mall joint-owner writes down properties by R660m

To view all features and options, click here. A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee. A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership. 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. Accelerate’s 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).

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