Safari Investments (SAR), the owner of Township Mall, was recently listed on JSE and expects to double its portfolio asset base to US $0.28bn within three or four years.
The company’s portfolio consists of seven properties, in which four bring in the income value of US $0.13bn when its first set of results was published on JSE in April. The four malls are all located in Sebong.
According to Safari Investment, construction of Swakopmund Water front in Namibia will be starting soon as all earth and water works are about to be completed. This new addition to the portfolio will increase it to US $0.19 in the company’s next financial year, and US $0.28 in three to four years.
The company’s operating expenses were low by US $0.65m due to completion of the company’s extension property’s in the financial year 2014. After the listing in April, things have improved and there is an anticipation of stable performance by the company.
Safari’s illiquid shares listed in April at US $0.71 have improved by 2.35 percent, estimated to be US $0.81 high recently.
At the moment, the company is constructing a retail node in Atteridge Ville to help strengthen its Attyn shopping center. The company is also adding to the Thabong Shopping Center located in Sebokeng.
Safari is busy constructing a retail node on Maunde Street in Atteridgeville to strengthen its Attlyn Shopping Centre‚ and is also adding on to its Thabong Shopping Centre in Sebokeng.
