Oryx celebrates its long and difficult road to establish property as an asset class
“Oryx was created to provide the Namibian Stock Excahnge a property stock on its board to give all Namibians an opportunity to invest in a company that provides a great return backed by Namibian real estate,” stated the Chief Executive of Oryx Properties, Ben Jooste at the company’s 20th anniversary celebrated on Tuesday.
The celebration was hosted at Avani Hotel, one of the assets in the Oryx portfolio.
Speaking on behalf of her minister, the Deputy Minister of International Relations and Cooperation, Hon Jennely Matundu thanked the company for its contribution to turn property into a tradeable asset class.
“The success story of Oryx Properties is testament to the fact, that our country is a peaceful, stable country in which businesses can flourish, creating employment opportunities and contributing to the economy,” she said.
“You have proven to be a resilient and innovative company, and I have no doubt you will continue to grow and prosper in the years to come,” added Matundu.
Oryx Properties listed in the financial ‘Real Estate’ sector on the NSX on 4 December 2002 after several large commercial Windhoek properties were acquired by Oryx and then leased back to the former owners. The major participants at that stage were Bank Windhoek, Metje & Ziegler Limited and the Marriot group.
The company’s new chairman, Vetumbuavi Mungunda said the company’s strategy for the foreseeable future focuses on growth, relevance, skills development and innovation.
Offering a glimpse of the company’s strategic direction, Mungunda said future acquisitions will reduced the company’s heavy exposure to and reliance on the Maerua Mall precint.
“We wish to divesify our investments across the various towns and localities of Namibia, which will contribute to the stimulation of business activities in those towns. As part of these ambitious plans, we have concluded an agreement to acquire the Dunes Mall in Walvis Bay. This is a demonstration of the company’s renewed confidence in and aspirations for growth in Namibia. We are seeking more opportunities across the country in this regard. In addition to our existing sectors being retail, industrial and offices, we are considering expanding into the Medical, Storage, and Residential sectors. We believe that these sectors have tremendous growth potential and will complement our existing portfolio,” he said.
Celebrating Oryx Properties’ two decades as a commercial entity, from the left, Ben Jooste – Chief Executive, Francis Heunis – Chief Financial Officer, Vetumbuavi Mungunda – Board Chairman and Conrad van der Westhuizen – Chief Asset Manager.
