MAS has appointed nonexecutive director and Prime Kapital partner Mihail Vasilescu as CEO with immediate effect as the group moves to reset its strategy while pushing ahead with asset disposals.Vasilescu takes up the CEO role after Prime Kapital’s takeover of a controlling 61% stake in the company after its voluntary offer in August 2025.He brings more than 23 years of experience in real estate, banking and corporate finance advisory roles, including previous positions at Rampart Capital and senior roles in the Romanian banking sector.His appointment comes as MAS wraps up binding agreements to dispose of assets in Romania and Bulgaria, which are expected to bring in about €216.1m (R4.4bn) in net proceeds after debt repayments and taxes, it said on Friday.MAS said its Romanian open-air mall portfolio is being sold to AFI Properties’ European arm, AFI Europe — the European property investment and development platform of Tel Aviv-listed AFI Properties — in a deal involving eight subsidiaries that hold six properties. Meanwhile, it has entered into another agreement to dispose of Galleria Burgas in Bulgaria to Hyprop.The disposals are part of a broader shift in strategy, with the group looking to pursue new opportunities beyond its traditional property markets in Central and Eastern Europe, it said. “Historically, MAS has focused on real estate in specific geographies. While these investments have created value, the board believes future opportunities should not be limited by asset class or location, with capital directed towards areas offering stronger long-term compounding potential,” the group said. MAS said it will keep a tight grip on liquidity, ensuring it has enough headroom to meet its remaining commitments to the development joint venture (DJV), its co-investment platform with Prime Kapital focused on developing and optimising retail property assets in Central and Eastern Europe. The group added that it is in no rush to deploy capital, even as cash becomes available, stressing that investment decisions will be made on merit rather than urgency. Opportunities, it said, will be weighed carefully, with a focus on quality, resilience, downside protection and long-term value creation.