Clearwater Mall, owned by Hyprop Investments, will host South Africa’s first Walmart store — a major retail milestone for the West Rand. The new store introduces Walmart’s global “Every Day Low Prices” model, creating over 80 new jobs and boosting local supplier partnerships. Offering everything from groceries to electronics, the store will anchor Clearwater’s retail mix and strengthen its position as a key regional shopping destination.

South African Real Estate Investment Trusts (SA REITs) slipped 0.3% in September, lagging equities and bonds despite stronger market conditions. Year-to-date, the sector remains up 14%, supported by nearly 10% annual dividend growth and renewed investor confidence. With lower borrowing costs, rising earnings, and R4 billion in new equity raised in 2025, the sector is positioned for sustained dividend and income growth heading into 2026, signaling a new expansion phase.

Emira Property Fund’s latest update shows steady progress across its diversified portfolio, with strong industrial recovery, stable office and retail performance, and continued capital recycling. The Fund reported a loan-to-value ratio of 37.1% and robust liquidity, supported by offshore growth through DL Invest in Poland and selective investments in SA Corporate. With disciplined capital management and improving sectoral fundamentals, Emira remains well-positioned to deliver on its FY26 objectives.

Hyprop delivered strong FY2025 results, increasing its dividend 9.9% to 307.7cps and distributable income 7.5% to R1.51bn. DIPS rose 2.3% to 378.8c, beating guidance, supported by robust South African trading and 24% Euro growth in Eastern Europe. Portfolio valuations climbed R2.4bn, LTV improved to 33.6%, and liquidity strengthened with R1.2bn cash on hand. Management guides to 10–12% DIPS growth in FY2026, underpinned by resilient assets and disciplined capital allocation.

Heriot REIT delivered robust results for the year to June 2025, with distributable income up 26.1% to R389.2m and DPS rising 14.3% to 121.91c. NAV grew 17.5% to R20.59, vacancies halved to 1.6%, and LTV improved to 38.95%. Strong industrial growth, resilient retail and recovering aparthotel operations supported performance. With the Thibault deal fully integrated, management guides to 10–15% DPS growth for FY26, underpinned by lower funding costs and stable demand.

Vukile Property Fund delivered a strong pre-close update for the five months to 31 August 2025, reaffirming guidance of at least 8% growth in FFO and DPS. Performance was driven by robust metrics across its South African and Iberian portfolios, including 99% occupancy, positive rental reversions, and resilient sales growth. With disciplined capital allocation, strong cost containment, and expanded offshore exposure, Vukile enters FY26 well positioned for sustainable growth.

Attacq Limited has appointed Ms Ipeleng Mkhari as its new Independent Non-Executive Chairperson, succeeding Mr Pierre Tredoux after more than a decade of service. A board member since 2018, Mkhari brings over 26 years of entrepreneurial and leadership expertise spanning asset management, infrastructure, logistics and industrial sectors. As CEO of Motseng Investment Holdings and a past SAPOA president, she will guide Attacq’s Horizon 2030 strategy with proven vision, resilience, and strategic insight.

South African REITs extended their rally in August, posting a 2.4% monthly gain and increasing year-to-date returns to 14.2%, according to the SA REIT Association’s Chart Book. Although trailing the broader equity market, the sector continues to benefit from lower bond yields and renewed capacity for equity raising. Encouraging trading updates, strategic portfolio reshaping, and strong interim results signal resilience, with analysts expecting double-digit total returns to remain achievable through 2025 and beyond.

Fortress Real Estate Investments delivered a total shareholder return of over 30% for FY2025, underpinned by its strategic shift into logistics and commuter retail assets across South Africa and Central and Eastern Europe. Strong fundamentals, low vacancies, and renewable energy gains supported growth, while distributions rose 9,4% year-on-year. CEO Steven Brown highlights a focused portfolio, robust development pipeline, and favourable market conditions as key drivers of continued shareholder value heading into FY2026.

Vukile Property Fund has raised R500 million through senior unsecured bonds, attracting over R3 billion in bids—six times the target. The three- and seven-year tranches were priced at 102 and 135 basis points, respectively, both tighter than guidance, lowering Vukile’s cost of capital. CEO Laurence Rapp credits strong market endorsement of Vukile’s disciplined strategy. Recently upgraded to AA+(ZA) by GCR Ratings, Vukile operates a R50 billion retail portfolio across South Africa, Spain, and Portugal.