CHAMWE KAIRA
Oryx Properties has stated in its 2024 integrated report that its diverse and growing property portfolio is valued at N$4.167 billion. This includes all primary real estate sectors and continues to expand geographically, strengthening the group’s resilience to economic fluctuations. Moreover, the company said investors enjoy international exposure to the Croatian property sector through our substantial 26% shareholding in TIL.
“Our primary listing on the NSX offers investors a transparent view of our performance. To safeguard long-term value for our unitholders, the policy is to pay out a minimum of 75% of total distributable income until 2027, after which it will revert to the 90% minimum from 2028, as set out in the company’s Debenture Trust Deed. The group’s total return for the year was 18.6%,” the company said.
Oryx’s strategy for 2025 protects value by expanding its geographic footprint and diversifying its portfolio of assets and tenants. This strategic shift involves evolving to a strategy integrating property and asset management functions, the company said.
Oryx has a balanced real estate portfolio that includes 38 properties across the retail, industrial, office and residential sectors. Oryx has been listed on the Namibian Stock Exchange (NSX) since 2002.
The portfolio comprises 37 local properties and one property in South Africa. In addition, the group
has offshore exposure through a 26% investment in TPF International Limited (TIL), with an underlying Croatian portfolio valued at €94.6 million
Oryx’s premium retail properties include the regional Maerua Mall, and the Gustav Voigts Centre in Windhoek, Namibia’s capital. Dunes Mall in Walvis Bay was acquired during the 2024 financial year.
The company has an occupancy rate of 95.8% across its commercial properties and of 98.4% on average for its residential portfolio.
Chairman Vetumbuavi Mungunda said the recent oil discoveries and advancements in renewable energy have unlocked significant opportunities for Namibia with expectations of investments in the mining and oil and gas sectors following the capital already being directed towards green hydrogen initiatives.
“These developments mark a transformative cycle for Namibia’s economy. Oryx is positioning itself to not only be at the centre of this transformation, but to participate in the opportunities presented by these developments,” saud Mungunda.
CEO, Ben Jooste said Oryx’s strategic initiatives have enabled the company to navigate macroeconomic headwinds while positioning the group for sustainable growth. “Our corporate strategy for 2025 continues to yield positive results as evidenced by our ability to grow the portfolio by N$1,072 billion during the year. Revenue increased by N$98 million whilst delivering a total return of 18.64% to shareholders during the year,” said Jooste.
