Hyprop is unswerving in its commitment to responsible corporate citizenship - economic, social and environmental sustainability. The group adopts an integrated approach in this regard and each aspect of operations within the group strictly adheres to sustainable practices. This is monitored through formal risk assessments, outlook determinations and audits.
Hyprop meaningfully engages with its stakeholders to ascertain the risks and opportunities for the group. It strives to create wealth and value-add for investors, to invest in its employees, to invest in and develop the communities in which it operates and to establish international credibility.
Committed to South Africa
Hyprop supports the Property Transformation Charter and is committed to meeting its targets and requirements. A programme is in place to address each aspect of the Charter’s scorecard and the company has set targets in line with the Broad Based BEE Act and the Department of Trade and Industry’s B-BBEE Codes of Good Practice. Hyprop is committed to enhancing B-BBEE with a particular focus on ensuring that any equity transaction at group level is genuinely broad-based.
The group’s commitment to enterprise developments is evident in the ongoing contribution to Vunani Property Investment Fund (“VPIF”) through the transfer of asset management skills. VPIF was launched in March 2006 by Hyprop together with Vunani Properties, a subsidiary of black-owned financial services group Vunani Capital. Vunani Properties continues to hold a 50,2% stake in VPIF while Hyprop holds the remaining 49,8% interest. VPIF comprises mainly commercial properties with government tenants in Johannesburg, Pretoria and Cape Town. CEO of Vunani Capital, Ethan Dube, is a non-executive director on Hyprop’s board.
Hyprop has further implemented a formal programme to encourage preferential procurement across the group, which has to date seen the achievement of approximately 70% preferential procurement in non-discretionary spend.