About Us

Business model

    What we use     What we achieve     The value we create
    Financial capital            
    Invest equity and debt capital Raised equity of R779 million Raised R800 million in corporate bonds Reinvested disposal proceeds from the sale of non-core assets     Total investment returns to investors Sustainable dividend growth     Distribution up 8,8% to 756.5 cents per share Repaid debt of Rl,95 billion Increased NAY by 3,2% Loan-to-value of 28,1%
    Manufactured capital            
    Own high-quality, dominant shopping centres in large metropolitan areas Redevelop and expand the portfolio Pursue yield-enhancing acquisitions     Defensive nature of highquality shopping centres provides sustainable income growth Well-maintained properties Geographic diversification Application of technology for effective utilities management     Concluded acquisitions of EUR439 million in SEE R276 million invested in developments in South Africa Located in capital cities in SEE Located in major metropolitan areas in SA and the rest of SSA
    Human capital            
    Fair and responsible remuneration Training and development Implementation of employment equity plan Engaged employee relations     Recruit and retain talent Low staff turnover Competent employees that can execute the strategy Well-established, experienced employee knowledge base Transformation Ethical values and employee conduct     Average term of service nine years (2017: eight years) Employee tenure of 93% (2017: 92%) KPD targets overachieved for the year 110,9% (2017: 114,0%) Job vacancy 1,8% (2017: 3,5%) Number of black employees increased to 59% {2017: 55%) Low ratio of unproductive leave days 88% of new employment from designated groups (2017: 83%)
    Social and relastionship capital            
    Manage stakeholder and information flow Hyprop Foundation used as vehicle to further corporate social initiatives     Effective controls and processes supporting transparent disclosure Sustainable social responsibility through education, community upliftment and enterprise development Employee, tenant and customer participation in CSI initiatives     Timely and transparent communication Rl,9 million invested in CSI projects together with considerable donations of time, space and facilities (2017: Rl,6 million) Community events hosted at our shopping centres
    Intellectual capital            
    Skilled property and asset management team Experienced executive team Seasoned board members Information management     Internal asset and property management focusing on value-enhancing opportunities and achieving key performance deliverables Integrated property management - and human resources systems Effective leasing management by managing all areas of tenant interaction and relationships     Diverse tenant mix Vacancy rate improved to 1,9% Arrears at 0,6% of rent roll Contractual rental escalations of 7,7% Roll out of system for standardisation of leases Less than 1% server downtime (interrupted productivity) across the group (mainly due to maintenance)
    Natural capital            
    Energy-efficiency programmes Water-saving programme Carbon emission measurement     Small and contained environmental footprint Environmentally efficient properties Participation in global environmental benchmarks     271 479 kilolitres of water saved (2017: 8 917 kilolitres) 29 128 MWh electricity saved (2017: 15 628 MWh) 83% of waste in South African portfolio recycled (2017: 79%) Third phase solar photovoltaic plant at Clearwater Mall completed R12,2 million cost savings to South African portfolio from energyefficiency initiatives