Oryx Properties Limited, which celebrated their 20th anniversary this week, is considering diversifying and expanding into the medical, storage and residential sectors. This is as the company enters a drive to diversify its investments with the proposed new sectors identified as having great growth potential to complement their existing portfolio.
These sentiments were shared on Tuesday by newly-elected chairman of the Oryx Properties Board of Directors, Vetumbuavi Mungunda.
“We further wish to diversify 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 enthused.
The chairman was speaking at the celebration of Oryx Properties Limited’s 20th anniversary during a gala dinner at one of their properties, the Avani Hotel and Casino in Windhoek. Invited guests at the event included current and former board members, current and former senior employees, tenants, suppliers, financiers, investors, auditors, sponsors, the regulator, trustees, customers as well as shareholders.
Mungunda dedicated the event to all past and present employees and customers, adding that a strategy for the company centred on growth, relevance, skills development and innovation had been formulated.
“We are excited about the future of our company, and the prospects in sight in making us a growing, relevant, innovative property company geared towards providing the convenience and experience our customers need,” he said.
Mungunda also shared that Oryx’s primary purpose was to help expand Namibia’s economic productive capacity through sustainable property investments and job-creation. To that end, he noted, the company would diversify the property portfolio away from the over-reliance on the Maerua Mall precinct.
At the same occasion, Deputy Minister of International Relations and Cooperation, Jennely Matundu, delivered the keynote address on behalf of Deputy Prime Minister and Minister of International Relations and Cooperation, Netumbo Nandi-Ndaithwah. In her address, she thanked Oryx Properties for their contribution to the country and its people over the past 20 years.
“The success story of Oryx Properties is testament to the fact that our country is peaceful and stable, in which businesses can flourish, thereby creating employment opportunities and contributing positively to the economy of our country,” she said, adding; “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”.
CEO of Oryx Properties, Ben Jooste, took guests on a journey through memory lane of Oryx Properties, which listed in the financial ‘Real Estate’ sector on the NSX on 4 December 2002. He observed that the very beginnings were kickstarted when various owners of properties in Windhoek agreed to sell and lease back their properties to the new company. The major participants at that stage were Bank Windhoek, Metje & Ziegler Limited and the Marriot group.
“Oryx was created to provide the fledgling NSX with 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. This is today still one of the truths we are immensely proud of, and that we wish to continuously reiterate. Anyone can invest in Oryx, be part of our balanced real estate portfolio, and share in our successes. Going forward, we encourage Namibians to join us on our journey, and we endeavour to continue to provide you, our investors, with excellent returns,” stated Jooste.