CHAMWE KAIRA
Oryx Properties Limited expects profit, headline earnings and earnings per linked unit for the financial year ended 30 June, to increase by more than 30% compared with the previous financial year.
The property investment group said the expected increases were partly due to the comparative results for the year ended 30 June 2025 being negatively affected by the derecognition of deferred tax assets following amendments to Namibian tax legislation relating to the carry-forward period for assessed losses.
Oryx said its 2026 financial performance was also supported by higher fair value gains on investment properties and the contribution from Platz am Meer Retail Centre.
The Group acquired the retail centre on 30 June 2025, meaning the property will be included in Oryx’s results for the full 2026 reporting period.
While profit, headline earnings and earnings per linked unit are expected to increase by more than 30%, Oryx said net asset value, distribution per linked unit and adjusted distributable income are expected to rise by less than 10% compared with the previous corresponding period.
The company said the financial information contained in the trading statement had not yet been reviewed or reported on by its external auditors.
Unitholders were therefore advised to exercise caution when dealing in Oryx securities until the audited financial results and distribution announcement are released.
Oryx expects to publish its audited financial statements and integrated annual report for the year ended 30 June 2026, together with the notice of its annual general meeting, on or about 10 September 2026.
Oryx Properties recently inaugurated the Goreangab Mall in Windhoek. The mall is a co-development between Oryx Properties Limited and Safland Property Group.
The project represents a total investment of approximately N$300 million, fully funded by Oryx Properties Limited, which retains 100% ownership of the asset.
The GIPF awarded a mandate to the Frontier Property Trust, managed by Safland Property Group amounting to N$450 million, that enabled the group to establish a presence in Namibia.
The mall forms part of the broader Goreangab Waterfront Development, which includes 2 500 residential units and an integrated public transport facility which is currently under construction.
The Goreangab Mall accommodates more than 40 tenants, with Shoprite serving as the anchor tenant, which functions as the larger cornerstone and foundation of the mall.
