Oryx finalises acquisition of Safari Investments Chamwe Kaira Oryx Properties Limited has officially acquired Safari Investments Namibia (Proprietary) Limited, following the fulfilment of all conditions in the sale agreement.  The transaction became effective on 30 June, with the transfer of shares completed on the same day. Safari Investments RSA Limited confirmed that all conditions precedent to the sale of 100% of the issued share capital and claims in Safari Investments Namibia had been met.  The sale agreement was first announced on 28 March. Oryx informed its unitholders that the acquisition was successfully concluded and that “caution is no longer required to be exercised when dealing in the company’s securities.” Safari Investments Namibia owns and manages the Platz am Meer Shopping Centre, a waterfront retail development in Swakopmund. Oryx said the acquisition forms part of a three-year growth strategy aimed at diversifying its Namibian portfolio and laying a strong foundation for future expansion.  The total value of the transaction was N$290 million and includes undeveloped land adjacent to the shopping centre. Oryx currently holds a portfolio of retail, office, industrial, and residential properties.  The company said it is committed to responsible investment, long-term value creation for shareholders, and contributing positively to the communities in which it operates. The company plans to enhance the shopping centre and develop more land.  Feasibility studies are underway for potential complementary projects, including hospitality services, residential and medical facilities, and an additional retail anchor tenant. Oryx said it delivered strong results in the first half of 2025, driven by positive rental reversions, a 63% improvement in commercial vacancies, and an average tenant collection rate of 101%.  The company said it remains on track to meet its 2025 corporate strategy targets. Looking ahead, Oryx expects growth in the Namibian property market, supported by a projected 4% expansion of the national economy in 2025.  The company said urban development and infrastructure projects continue to increase demand for residential and commercial property. “Our strategic investments in high-growth areas, growth momentum in line with its strategy and its commitment to sustainable building practices position us well to capitalise on these trends,” Oryx stated. The company said it anticipates robust growth opportunities in the sector despite compressed yields, given expected reductions in interest rates.

#OryxProperties #SafariInvestments #Namibia #RealEstate #InvestmentNews

Safari investments deal dependent on fulfilled conditions Chamwe Kaira Oryx Properties Limited, a company listed on the Namibia Stock Exchange, says its planned acquisition of Safari Investments Namibia (Proprietary) Limited is still subject to conditions agreed with the sellers. Safari owns and manages the Platz am Meer Shopping Centre in Swakopmund. Oryx announced in March that it had entered into a sale of shares and claims agreement with Safari Investments RSA Limited, a company listed on the Johannesburg Stock Exchange.  Under the deal, Oryx will acquire 100% of the issued share capital in Safari Investments Namibia and all related loan claims from the seller for N$290 million. The acquisition is subject to approval by the Namibian Competition Commission.  It aligns with Oryx’s strategy to diversify geographically within Namibia, grow its asset base, and gain commercial value from the transaction. Oryx confirmed that the transaction and purchase price remain conditional.  The company stated that it remains under cautionary measures, as was first announced in March and reiterated in May. The effective date of the acquisition will be the first day of the month after all conditions are fulfilled or waived. The N$290 million purchase price will be paid in cash on the effective date. An additional final payment may be made if Safari Namibia achieves a minimum net operating income yield of 11% during the 12 months after the effective date. Oryx said it will fund the acquisition with debt and is finalising the terms. The group’s loan-to-value ratio is expected to increase from 36.1% to 39.9%, excluding any fair value adjustments. Oryx owns commercial properties including Maerua Mall and Gustav Voigts Centre in Windhoek. It reports a retail vacancy rate of 5.91% and a residential vacancy rate of 11.19%. The group’s property portfolio includes 28 retail, industrial, office, and residential properties. It also holds offshore investments in the Tower Property Fund, a South African real estate investment trust, and owns 26% of TPF International Limited, which manages a Croatian property portfolio valued at €82.2 million.

#OryxProperties #SafariInvestments #NamibiaStockExchange #InvestmentNews #BusinessAcquisition

Oryx gets the green light to buy Safari Investments Chamwe Kaira Oryx Properties Limited has received approval from the Namibian Competition Commission to acquire 100% of Safari Investments Namibia (Proprietary) Limited. The approval, granted on 9 May, comes without any conditions. Safari Investments Namibia owns and manages the Platz am Meer Shopping Centre, a waterfront mall in Swakopmund. Oryx first issued cautionary announcements about the deal in March and May. The company said, “The transaction and purchase price remain contingent upon the fulfilment of conditions agreed upon with the sellers. Therefore, we advise unitholders to be cautious when trading their Oryx securities until we make another announcement. The deal follows an earlier agreement between Oryx and Safari Investments RSA Limited, a company listed on the Johannesburg Stock Exchange. Under the agreement, Oryx will buy Safari Investments Namibia for N$290 million. Oryx also said an agterskot, or final amount, could become payable if Safari Namibia reaches a net operating income target yield of 11% during the 12-month period after the acquisition takes effect. The acquisition will be funded through debt. Oryx is finalising its funding terms. The group expects its loan-to-value ratio to increase from 36.1% to 39.9%, excluding any potential positive fair value adjustments in its portfolio. Oryx’s property portfolio was valued at N$4.2 billion for the half year ending December 2024. This compares to N$2.8 billion at the end of June 2022, moving closer to its N$4.5 billion target for the 2025 financial year. In 2024, Oryx also exceeded its operating income goal of N$450 million. Rental operating income rose by 26.4%, reaching N$451.2 million. Oryx owns premium retail properties such as Maerua Mall and Gustav Voigts Centre in Windhoek. It maintains a commercial vacancy rate of 5.91% and a residential vacancy rate of 11.19%. The group’s real estate portfolio includes 28 retail, industrial, office, and residential properties.  It also has offshore exposure through investments in the Tower Property Fund, a South African REIT, and a 26% stake in TPF International Limited, which holds a Croatian property portfolio valued at €82.2 million.

#OryxProperties #SafariInvestments #Namibia #PropertyInvestment #ShoppingCentre

Oryx gets the green light to buy Safari Investments Chamwe Kaira Oryx Properties Limited has received approval from the Namibian Competition Commission to acquire 100% of Safari Investments Namibia (Proprietary) Limited. The approval, granted on 9 May, comes without any conditions. Safari Investments Namibia owns and manages the Platz am Meer Shopping Centre, a waterfront mall in Swakopmund. Oryx first issued cautionary announcements about the deal in March and May. The company said, “The transaction and purchase price remain contingent upon the fulfilment of conditions agreed upon with the sellers. Therefore, we advise unitholders to be cautious when trading their Oryx securities until we make another announcement. The deal follows an earlier agreement between Oryx and Safari Investments RSA Limited, a company listed on the Johannesburg Stock Exchange. Under the agreement, Oryx will buy Safari Investments Namibia for N$290 million. Oryx also said an agterskot, or final amount, could become payable if Safari Namibia reaches a net operating income target yield of 11% during the 12-month period after the acquisition takes effect. The acquisition will be funded through debt. Oryx is finalising its funding terms. The group expects its loan-to-value ratio to increase from 36.1% to 39.9%, excluding any potential positive fair value adjustments in its portfolio. Oryx’s property portfolio was valued at N$4.2 billion for the half year ending December 2024. This compares to N$2.8 billion at the end of June 2022, moving closer to its N$4.5 billion target for the 2025 financial year. In 2024, Oryx also exceeded its operating income goal of N$450 million. Rental operating income rose by 26.4%, reaching N$451.2 million. Oryx owns premium retail properties such as Maerua Mall and Gustav Voigts Centre in Windhoek. It maintains a commercial vacancy rate of 5.91% and a residential vacancy rate of 11.19%. The group’s real estate portfolio includes 28 retail, industrial, office, and residential properties.  It also has offshore exposure through investments in the Tower Property Fund, a South African REIT, and a 26% stake in TPF International Limited, which holds a Croatian property portfolio valued at €82.2 million.

#OryxProperties #SafariInvestments #Namibia #InvestmentNews #RealEstate