CHAMWE KAIRA
Oryx Properties Limited has entered into agreements for the proposed acquisition of a large industrial warehouse valued at N$251.2 million, excluding transaction costs.
In a cautionary announcement issued in compliance with the Namibian Stock Exchange (NSX) Listing Requirements, the company said the agreements were concluded on 3 July 2026.
The transaction remains subject to the fulfilment of several conditions’ precedent, including approval from the Namibian Competition Commission.
Oryx noted that, if implemented, the acquisition could have a material impact on the price of its listed units. Unitholders have therefore been advised to exercise caution when dealing in the company’s linked units until a further announcement is made.
The company said further details will be communicated once the outstanding conditions have been satisfied or the transaction progresses.
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.
The development of the Goreangab Mall is estimated to have created approximately 786 jobs across the construction and post opening phases.
The construction of the mall provided about 360 jobs whereas the post opening phase is expected to provide roughly 426 jobs.
GIPF committed N$800 million under a Core Plus Commercial Property Mandate to Oryx. This new unlisted vehicle is intended to finance similar retail developments and mall-type assets of this nature across the country.
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.
