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.
