Property Flash


July 11 2023

Safari Investments, the retail landlord is set to delist from the JSE, following Heriot Reit becoming its largest landlord. Safari is too illiquid and small to justify a listing on the main bourse.

Heriot is helping Safari to sell its non-core assets including a day hospital in Soweto and and Platz am Meer, a Namibian mixed-use development. The group will operate as a private business within Heriot. Heriot will bring properties into Safari. Safari will also sell Mnandi Shopping Centre.

Safari recently reported that its dividend had increased 14% to 65c a share for the year to end-March 2023. This was using a payout ratio of 100%. Safari which is worth R1.5bn also saw its operating profit rise 15.4% to R282.8m.

Leave a Reply

Your email address will not be published. Required fields are marked *