Property acquisition lifts Oryx's earnings

Oryx Properties expects its results for the period ended 31 December 2025 to increase by between 10% and 30%, according to a trading statement released on the Namibia Securities Exchange (NSX) Securities Exchange News Service (SENS).

Based on this guidance, headline earnings could rise to N$26 million, up from N$20.05 million in 2024.

“The Group anticipates that distribution per linked unit will be materially higher, by between 10% and 30%, while earnings per share, profit for the period and headline earnings are expected to increase by more than

30% compared with the prior period,” the statement said.

Oryx attributed the stronger performance to robust operational contributions from Platz am Meer, supported by a favourable interest rate environment.

The unaudited results for the period ended 31 December 2025 are expected to be published on or about 6 March 2026.

Net positive impact of Platz am Meer acquisition

On 30 June 2025, Oryx Properties completed the N$290 million acquisition of the Platz am Meer Waterfront in Swakopmund from Safari Investments.

The transaction, which includes undeveloped land adjacent to the shopping centre, is expected to generate an annual return of 11%, equating to approximately N$31.9 million in net operating income, the company said at the release of its full-year results on 30 June 2025.

“Safari Investments has guaranteed this return for the first 12 months as part of a transition period involving combined asset and property management. This attractive yield will contribute to our distributions from day one. While the centre experienced a challenging recovery post-COVID, its vacancy rate declined from approximately 16.6% in 2023 to below 2% at acquisition,” Oryx Properties CEO Ben Jooste said at the time.