Oryx Properties Limited, Namibia’s leading listed property group, has announced robust operational results for the financial year ended 30 June 2025. The group delivered a total return of 21% to unitholders, underscoring a year of significant strategic achievement despite a decline in reported profit largely due to legislative changes affecting deferred tax assets.
The Board declared a final distribution of 55.50 cents per unit, following an interim distribution of 52.50 cents per unit. This brings the total distributions for the year to N$123 million.
Operational highlights include an increase in net property income to N$334.5 million and a 4.9% rise in distribution per linked unit to 108.00 cents. The commercial vacancy factor improved markedly to 2.4%, while the portfolio value grew to N$4.7 billion, up from N$4.2 billion in 2024.
Ben Jooste, CEO of Oryx Properties, commented: “The year 2025 concluded on a strong trajectory, marking the successful completion of our three-year strategy focused on operational resilience, portfolio optimisation, and growth. Over the past three years, the group has generated a cumulative total return of 57% for unitholders and increased its property portfolio value by N$1.8 billion.”
A key achievement during the year was the acquisition of Platz am Meer in Swakopmund for N$290 million. The investment is projected to yield an 11% return, generating approximately N$31.9 million in net operating income and strengthening Oryx’s presence in high-growth market segments.
Significant progress was also made on the Goreangab Mall development in Windhoek, which is expected to be completed by May 2026. The mall will serve the Goreangab suburb and greater Katutura area, creating around 340 construction jobs and 360 permanent positions once operational.
Oryx invested N$146 million in property improvements during the year, including N$52 million on the first phase of Maerua Mall’s redevelopment, N$57 million on Goreangab Mall, and N$37 million on maintenance.
Looking forward, Oryx is optimistic about Namibia’s economic prospects, with growth projected at 3.5% in 2025 and 3.9% in 2026. The property sector is expected to see gradual recovery, supported by improved affordability and growing demand for mixed-use urban spaces.
Jooste added that the group has launched a new three-year strategic plan aimed at enhancing distributions to unitholders, with nodal developments identified as a key growth catalyst. These projects are designed to create vibrant, integrated urban hubs that combine residential, commercial, and recreational uses.
Leveraging its strengthened asset base and development pipeline, Oryx is well-positioned to contribute meaningfully to Namibia’s built environment and national development goals while delivering long-term value to stakeholders.
Oryx Properties is a premier Namibian property company specialising in development, management, and investment across retail, office, industrial, and residential sectors. Committed to responsible investment and community impact, Oryx actively supports industry advancement and skills development through its involvement in the Namibia Property Association.