<ul data-eligibleForWebStory="false"><li>Accelerate Property Fund, the 50% co-owner of Fourways Mall, may be forced to write off the R800 million it is owed by various parties related to Nic Georgiou, the other co-owner of the mall.</li><li>The November 2024 settlement agreement with the parties involved lapsed due to suspensive conditions not being fulfilled within the required timeframe.</li><li>Accelerate is currently in negotiations to conclude a new agreement on similar terms as the original settlement, but if unsuccessful, it may fully impair the R800 million in its financial results.</li><li>The complex settlement agreement involves no cash outflow from Accelerate and includes proposed payments to Azrapart, the developer of Fourways Mall, totaling R796 million.</li></ul>

Fourways Mall co-owner may be forced to write off R800m

Discover more