Oryx Properties ends 2025 on a strong note

Oryx Properties Limited has wrapped up its financial year ended 30 June 2025 on a solid trajectory, reporting improved operational performance and delivering a total return of 21% to unit holders.This was achieved despite a dip in reported profit, mainly due to the derecognition of deferred tax assets following legislative changes. The board declared a final distribution of 55.50 cents per unit, following an interim distribution of 52.50 cents per unit. Together, this amounted to N$123 million in distributions for the year.Operationally, Oryx delivered robust results. Net property income climbed to N$334.5 million, while distribution per linked unit grew 4.9% to 108.00 cents. The commercial vacancy factor improved significantly to just 2.4%, while the overall portfolio value increased to N$4.7 billion, up from N$4.2 billion in 2024.Reflecting on the year, Oryx CEO Ben Jooste said: "2025 concluded on a strong trajectory, marking the successful completion of our three-year strategy focused on operational resilience, portfolio optimisation, and growth. Over this period, the group generated a cumulative total return of 57% for unit holders, while increasing the property portfolio value by N$1.8 billion. Excellent progress has also been made on the Goreangab Mall, which underscores our commitment to creating long-term value for shareholders and contributing to Namibia’s economic development.”Among the year’s highlights was the acquisition of Platz am Meer in Swakopmund on 30 June 2025 for N$290 million. The investment is expected to deliver an attractive 11% return, generating around N$31.9 million in net operating income, while strengthening Oryx’s presence in a key growth market.Goreangab MallThe group also advanced its flagship Goreangab Mall development in Windhoek, which is on track for completion in May 2026. The project is expected to serve the underserved Goreangab suburb and wider Katutura area, creating an estimated 340 construction jobs and 360 permanent employment opportunities once operational.During the year, Oryx invested N$146 million in property improvements. This included N$52 million for the first phase of Maerua Mall’s redevelopment, N$57 million on Goreangab Mall, and N$37 million in maintenance costs.Looking ahead, Oryx remains confident about Namibia’s economic outlook, with growth projected at 3.5% in 2025 and 3.9% in 2026. The property sector is expected to benefit from improved affordability and rising demand for mixed-use urban developments.Jooste concluded: “We have set a new three-year strategic plan aimed at enhancing distributions to unitholders. Nodal developments will play a key role in driving future growth by transforming urban areas into vibrant, integrated hubs that combine residential, commercial, and recreational spaces. This strategy strengthens community connectivity, boosts economic activity, and creates long-term value for all stakeholders.”With a stronger asset base and a healthy development pipeline, Oryx is firmly positioned to shape the future of Namibia’s property sector while making a meaningful contribution to national development.

Oryx Properties ends 2025 on a strong note

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Namibian Sun 2025-09-15

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Oryx Properties ends 2025 on a strong note

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Namibian Sun 2025-09-15

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