Progress made towards achieving
strategic priorities set in 2019
- Trading density of South African portfolio increased by 0.6% for the period, and 1.4% for the last twelve months.
- Edcon exposure reduced and new Checkers Fresh-X stores introduced.
- The redeveloped Hyper-space at The Mall in Sofia, Bulgaria successfully opened, improving the mall’s dominance and introducing significant new tenants.
- Strengthening the balance sheet by repaying R1.3 billion of borrowings, and reducing the dividend pay-out ratio.
- Hyde Park Corner celebrates its 50th birthday with seven original tenants still trading in the centre.
Distributable income per share in line
with guidance for the year ending
30 June 2020.
Hyprop's vision is to become the leading South African based REIT by creating environments and opportunities for people to connect and have authentic and meaningful experiences. We will achieve this by owning and managing mixed use precincts underpinned by dominant retail centres in key economic nodes in South Africa and Eastern Europe.
Despite the challenges the Group is facing, it is pleasing to report that progress is being made towards achieving the strategic objectives and priorities set in 2019: