SA Corporate buys 25% in Namibia-based Oryx

Posted On Wednesday, 24 October 2007 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

SA Corporate Real Estate Fund has bought a 25% stake in Oryx Properties

Craig EwinProperty group SA Corporate Real Estate Fund (SAC) has bought a 25% stake in Oryx Properties, the second-biggest primary listing in the Namibian Stock Exchange, it said on 


The acquisition would be funded by the issue of 43.1 million shares to vendors but SA Corporate did not did disclose the price offer.

The deal forms part of the strategy agreed on last in August to invest up 5% of the portfolio value in property assets elsewhere in Africa.

"The opportunity to invest in Oryx arose recently and matched these criteria perfectly. The deal, which will be earnings neutral for SA Corporate in year one, provides a platform for further expansion into Africa," said Craig Ewin, CEO of SA Corporate.

Oryx holds a N$727 million portfolio of 19 Namibian properties.

Last modified on Wednesday, 23 April 2014 09:37

Most Popular

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Balwin Properties and ABSA launch South Africa’s first green home loan

Mar 13, 2020
Apartment 71933
JSE-listed Balwin Properties Limited (Balwin Properties or the Company) and Absa Group…

Growthpoint reports a steady first half with its growth strategies paying dividends

Mar 11, 2020
Growthpoint Properties Group CEO Norbert Sassee
Growthpoint Properties (JSE: GRT) reported distributable income growth of 2.2% to R3.2bn,…

Spear REIT launches innovative self-isolation campaign for returning travellers in Cape Town, South Africa to combat COVID-19:

Mar 18, 2020
Double Tree Op
JSE listed Spear REIT Limited, the owner of the Double Tree by Hilton Cape Town, is the…

Financial Fitness – Is this the right time to buy property?

Mar 20, 2020
Governor Lesetja Kganyago SARB1
With the South African Reserve Bank’s announcement of interest rates cut of 100 basis…

Please publish modules in offcanvas position.