Rich South Africans are buying homes in one of the safest countries in Africa
More wealthy South Africans are buying homes in Namibia, ranked as one of the safest countries in Africa, for tax benefits and permanent residency.
Entities associated with Razon are buying Pearl Valley—a Jack Nicklaus signature golf course—and the hotel on the property in the Cape Winelands from a company controlled by shareholders that include Ryk Neethling, a South African businessman and Olympic gold medalist in swimming.
The nation’s anti-trust authority approved the purchase, according to a March 20 government notice.
Razon chairs International Container Terminal Services Inc., which in 2023 won a bid to develop South Africa’s port of Durban and operate it for 25 years.
A local court temporarily blocked the deal last year after an A.P. Moller-Maersk A/S unit challenged the award.
ICTSI operates more than 30 port terminals in 20 countries.
Razon—who chairs and is president of Pilipinas Golf Tournaments Inc. and is a major supporter of the sport in his home country—has an estimated net worth of $9.1 billion, according to the Bloomberg Billionaires Index.
Razon also founded and runs Bloomberry Resorts Corp, the Philippines’ biggest casino operator.
Issued on BusinessTech by Bloomberg | https://businesstech.co.za/news/business/818048/billionaire-buys-one-of-south-africas-top-golf-courses/
