Oryx Properties Limited reported net property income of N$334.5 million for the year ended 30 June, with the board declaring a total distribution of N$123 million.
The company says unitholders earned a total return of 21% for the year, despite reported profit declining due to the derecognition of deferred tax assets following changes in legislation.
Oryx stated that distribution per linked unit rose 4.9% to 108 cents, while portfolio value increased to N$4.7 billion from N$4.2 billion in 2024.
The company’s commercial vacancy factor improved to 2.4%.
“The year 2025 concluded on a strong trajectory, marking the successful completion of our three-year strategy. Over the past three years, the group has generated a cumulative total return of 57% for unitholders, increasing the group’s property portfolio value by N$1.8 billion. In addition, excellent progress has been made on the Goreangab Mall,” chief executive Ben Jooste says.
Oryx says the acquisition of Platz am Meer at Swakopmund on 30 June for N$290 million is expected to yield an 11% return, generating about N$31.9 million in net operating income, while strengthening its market position in high-growth segments.
– Compiled by Shania Lazarus
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