Eight Growthpoint shopping centres across four provinces recognised for marketing excellence

Growthpoint Properties (JSE: GRT) has been recognised with 19 awards across eight retail centres at this year’s South African Council of Shopping Centres (SACSC) Footprint Marketing Awards, which honour excellence and innovation in retail property marketing.

 The SACSC Footprint Marketing Awards acknowledge campaigns that demonstrate creativity, strategic insight and measurable impact within the shopping-centre industry. They recognise marketing that drives real business results across twelve award categories – from community engagement and retailer productivity to digital innovation and sustainability.

This year’s programme attracted 276 entries, with 135 awards presented to campaigns that set new benchmarks for success. For Growthpoint, the results underscore both the strength of its marketing talent and the consistency of its national retail strategy.

“While some of our centres regularly entered the awards in the past, this year we actively encouraged every retail marketing team in our portfolio, whether in-house or agency, to enter the Footprint Awards across a full range of our centres,” says Gavin Jones, Head of Retail Asset Management at Growthpoint Properties.

Jones adds, “We wanted to showcase the innovation and impact that our amazing teams deliver every day at centre level. We chose the SACSC Footprint Marketing Awards as a respected forum that honours excellence and raises retail property marketing to new heights. Seeing so many of our centres and their teams recognised on a national stage reinforces that decision and highlights the strategy and creativity that runs across our portfolio.”

The judging process is both rigorous and industry-led, involving a panel of more than 30 experts from across the retail, marketing and property sectors in South Africa and abroad. Judges include marketing directors, asset managers, agency leaders and international retail specialists who evaluate each entry for its creativity, execution, strategic alignment and measurable results. This multi-disciplinary approach ensures that the Footprint Awards recognise marketing excellence that genuinely advances retail performance and community engagement.

Diverse campaigns, national recognition

 Growthpoint’s awards span shopping centres in four South African provinces and multiple marketing disciplines, celebrating initiatives that go beyond traditional retail promotion to foster community engagement, local enterprise development and experiential retail.

Among the highlights:

• Brooklyn Mall (Pretoria) achieved nine awards across multiple categories for its Ballet & Bubbles, Curated Collection – 67 Blankets and Denim by Design Welcomes Levi’s campaigns. Brooklyn Mall led the achievements with nine awards, making it one of the most decorated centres in this year’s programme.
• Festival Mall (Kempton Park) was recognised for its Retail Academy community initiative.
• Waterfall Mall (Rustenburg) received Silver and Bronze awards for Grow Your Small Business, promoting local entrepreneurship.
• Northgate Shopping Centre (Johannesburg), Longbeach Mall (Cape Town) and Musgrave Centre (Durban) were all honoured for campaigns that strengthened community ties and revitalised their retail environments.
• Alberton City Shopping Centre earned a Bronze award for A Queen Taking Her Throne, celebrating local talent and creativity.
• Co-owned Vaal Mall (Vanderbijlpark) secured three Bronze awards for its “All White” themed lifestyle event and campaign.

 Together, these results demonstrate the depth and diversity of Growthpoint’s marketing excellence across South Africa’s retail landscape.

“These results reflect great marketing but also show how our centres create experiences that connect people, support retailers and contribute positively to local communities,” adds Jones. “We’re proud to see our teams driving initiatives that combine commercial success with genuine social impact.”

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Nedbank Group Limited has become one of the first businesses in South Africa to offset its carbon emissions by taking up Growthpoint Properties Limited’s (JSE: GRT) renewable energy certificates (RECs) in a groundbreaking initiative enabling tenants to offset electricity emissions in leased buildings.

 Nedbank leads on Scope 2 carbon emissions reduction

Setting a new benchmark for corporate decarbonisation in South Africa, Nedbank will offset its Scope 2 emissions across 26 branches located in Growthpoint-owned shopping malls and offices in five provinces — from La Lucia Mall in KwaZulu-Natal to Waterfall Mall in North West, and Woodmead Retail Park in Gauteng to Walmer Park in the Eastern Cape, as well as The Constantia Village in the Western Cape. Together, the branches span over 8,200 square metres of retail space.

Growthpoint solves the challenge of leased-property emissions for businesses

Scope 2 emissions, which stem from purchased electricity, are typically the hardest – if not impossible – for businesses to reduce in multi-tenanted leased premises without support from the landlord. Tenants can reduce their consumption but can’t control the electricity supply at these buildings, and the vast majority of South Africa’s national electricity is coal-fired.

Growthpoint’s REC initiative addresses these gaps for the first time in South Africa by certifying the clean solar power generated at its properties and offering verified RECs to tenants. At the same time, it paves the way for wider use of certified, blockchain-tracked green attributes by businesses in South Africa.

A scalable model for corporate decarbonisation

Nedbank has welcomed the solution as a major step forward on its well-established sustainability journey.

Charl de Kock, Nedbank Executive Head of Group Business Services, says that Nedbank is delighted to partner with Growthpoint in this pioneering initiative.  

 “Access to RECs through Growthpoint gives us an immediate, auditable way to reduce Scope 2 emissions for our branches in their buildings. This removes a big barrier and supports our long-term climate goals, especially where it is too complex to wheel or generate renewable electrons,” adds de Kock. 

 “Nedbank achieved a 30% energy reduction target two years ahead of schedule. In 2024, our electricity use stayed below 97,000 MWh, and renewable energy reached 10% of total consumption. We have been carbon-neutral since 2010, making us the only major bank with this track record.”

“Nedbank’s early adoption of RECs marks a pivotal shift for carbon offsetting and reporting in South Africa. Transparent carbon emission offsets are urgently needed, particularly for businesses in leased spaces, as they cannot tackle the challenge alone. Growthpoint is proud to support our tenants in decarbonising their operations,” says Werner van Antwerpen, Growthpoint Head of Corporate Advisory.

Growthpoint’s collaboration with Nedbank unlocks a new way to manage environmental risk while affirming leadership in driving global efforts toward a low-carbon economy.

Shared climate ambitions drive joint action

Nedbank and Growthpoint are naturally aligned on certified decarbonisation. Both are leaders in South Africa’s certified green building movement and catalysts for energy efficiency and renewable energy adoption. Both share ambitious climate targets: Growthpoint is aiming for carbon neutrality across its property portfolio (the largest for a REIT locally) by 2050, while Nedbank is targeting 100% of lending and investing supporting a net-zero carbon economy by the same year.

By taking these initial steps in the REC market together, Nedbank and Growthpoint are advancing their sustainability ambitions and opening the way for businesses of all sizes in South Africa to achieve credible Scope 2 emission offsets while stimulating the local green economy.

This transaction is expected to pave the way for broader integration of green attribute instruments and grow South Africa’s sustainable economy.

Growthpoint’s solar energy infrastructure

Underpinning the solution is Growthpoint’s unique renewable energy mix. The leading property company has grown one of South Africa’s largest Small Scale Embedded Generator (SSEG) renewable energy fleets and linked it to transparent certification frameworks. It has a solar fleet of 80 rooftop systems providing 61.2MWp capacity. Growthpoint plans to commission 7MWp of additional solar capacity by mid-2026.

So far, nearly half of its solar plants are already registered on the international Renewable Energy Certificate (I-REC) registry in partnership with Fuel Switch, Africa’s first blockchain-enabled REC exchange. The I-REC mechanism provides globally recognised certification for renewable energy generation and is increasingly being adopted by companies and institutions to meet sustainability targets.

e-co₂ wheeled green electricity is live

Alongside its on-site rooftop solar fleet, Growthpoint launched its wheeled renewable energy initiative, e-co₂, last month (October 2025). Supported by a landmark 195GWh power purchase agreement (PPA) with Etana Energy for a sustainable mix of renewable hydro, wind and solar electricity.

The first renewable energy generation project to come online as part of the PPA is Boston Hydroelectric Plant in Lesotho Highlands Water Scheme near Clarens, a new R390 million development by Serengeti Energy, with an operational lifetime of over 40 years. Growthpoint has acquired a 30% stake in the plant and secured exclusive access to all the approximately 30GWh of renewable electricity generated by the plant annually. The certified zero-carbon electricity from Boston Hydro is already being added to the national grid and supplying 20 Growthpoint buildings on Eskom’s direct grid and three on the City of Cape Town’s grid. This includes 10 e-co₂ office buildings in Sandton where, in addition to compounding cost-saving fixed escalations on green electricity, each unit of clean energy consumed by a tenant automatically generates a tradable digital REC for them, tracked via Fuel Switch’s blockchain-enabled platform.

A milestone for South Africa’s green economy

 “Growthpoint’s first-of-its-kind green electricity programme offers tenants a way to reduce their Scope 2 emissions and marks an important milestone in South Africa’s green energy market. It demonstrates how building owners and tenant businesses can work together to deliver real emissions reductions and build a low-carbon future,” adds van Antwerpen.

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 New R700m speculative development responds to rising demand for sustainable, tech-enabled warehouses

Growthpoint Properties (JSE: GRT), in partnership with Feenstra Group, has launched Noka Park, a R700 million logistics and industrial development strategically located in Gauteng’s Riverfields logistics precinct, near OR Tambo International Airport. The park is 50/50 co-owned and co-developed by Growthpoint and Feenstra Group and will be managed by Growthpoint.

Construction begins in October 2025, with four buildings to be delivered in phases. The first warehouse is set for occupation from the final quarter of 2026, with the remainder rolled out on completion.

Noka Park tenants will benefit from direct access to transport and distribution corridors; scalable, future-proofed facilities; a professionally managed precinct; and an environment that integrates business performance with sustainability.

Answering demand in a shifting market

 Noka Park is a speculative development designed to meet strong and evolving tenant demand.

“The South African logistics market is currently being reshaped by a ‘flight to quality’ with tenants prioritising high-grade, sustainable and technologically enabled warehouses over more basic facilities,” says Errol Taylor, Head of Asset Management: Logistics & Industrial at Growthpoint Properties.

This trend reflects broader global shifts. Industrial occupiers are increasingly prioritising technology adoption, integrating IoT, AI and automation to streamline warehouse operations and enhance supply chain efficiency. At the same time, sustainability and ESG alignment have moved to the forefront, with tenants seeking energy-efficient buildings that are solar-ready, water-wise and aligned with green certification standards. Even with the recent suspension of load-shedding, energy security remains critical driving demand for logistics parks with reliable power infrastructure and backup systems. Flexibility is equally essential, as the market shows growing interest in mid-sized warehouses ranging from 10,000m² to 30,000m². This makes scalable, adaptable land parcels, like those offered within Noka Park, a significant competitive advantage.

“Noka Park speaks directly to these market dynamics,” notes Taylor. “This development with Feenstra Group demonstrates how considered partnerships and strategic site selection can deliver superior value for tenants. It provides immediate efficiency and resilience, but also long-term sustainability for tenants. We are confident that Noka Park will meet and exceed these requirements.”

Expanding a high-performing logistics portfolio

Growthpoint has steadily repositioned its logistics and industrial portfolio as one of its key growth platforms. Logistics and industrial assets have grown from 15% to 20% of its total South African portfolio value, with nearly half of these assets now concentrated in modern logistics warehouses located in high-performing nodes.

This portfolio transformation reflects a deliberate strategy to focus on quality, performance and sustainability, Taylor says, and this is set to continue with a pipeline of demand-driven speculative developments like Noka Park.

Future-ready facilities for modern industry

 With its combination of prime location, modern specifications and environmental integration, Noka Park is designed for a diverse tenant base ranging from e-commerce companies to international logistics operators and warehousing.

“Working alongside Growthpoint on Noka Park has allowed us to combine our strengths to develop this high-quality logistics asset,” says Johann du Plessis, CEO of Feenstra Group Developments. “From the outset, the focus has been on future-proofing the development through sustainable design, adaptability and efficiency. The result is a logistics park that not only serves the needs of tenants today but will remain relevant as this innovative sector evolves.”

Prime location in a strategic logistics hub

 Noka Park is strategically located within the Riverfields logistics hub in Kempton Park, a managed precinct known for its scale, smart infrastructure, and seamless connectivity. Reflecting its location, Noka means “river” in Sesotho.

Situated at the corner of Mulder Road and Blaauwklippen Avenue, the development offers easy access to the R21 freeway and lies only 3km from OR Tambo International Airport, positioning it as a prime node for both national and international distribution. Its proximity to key logistics and commercial assets, including major warehousing, industrial and retail nodes, including Isando, Jet Park and East Rand Mall all within 10kms, reinforces its role as a central access point within Gauteng’s high-performance logistics corridor.

The Riverfields precinct is also notable for its environmental setting within the Ekurhuleni ecological zone, where preserved grasslands, seasonal streams and indigenous landscaping form part of the development, underscoring its environmental credentials.

 Scale and specifications

Noka Park spans 105,000sqm and will deliver over 52,000sqm of high-performance industrial space across four state-of-the-art warehouses designed to accommodate high-volume warehousing, racking, and fast-moving logistics operations. Warehouse footprints range from mid-sized to large-scale facilities, offering flexibility to both blue-chip tenants and growing industrial operators.

Each warehouse is equipped with FM2-specification floors, 12m clear spring height and both dock and on-grade access to support efficient movement of goods, enhanced by built-in offices, with staff areas and ablutions.

Solar-ready roofing, LED lighting and generator-ready infrastructure reflect a focus on operational resilience and energy efficiency. Additional features such as low-e performance glazing further enhance sustainability and thermal performance.

Safety and security are reinforced through fire protection systems, a secure gatehouse with access control, a 2.4m perimeter wall and electric fencing.

“By combining scale, flexibility and modern specifications, Noka Park sets a new benchmark for industrial and light manufacturing facilities in Gauteng,” concludes Taylor.

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Strategic investment in the hydro plant that is powering the 24/7 clean energy being wheeled to 23 Growthpoint flagship properties

CLARENS, FREE STATE. Growthpoint Properties (JSE: GRT), South Africa’s leading Real Estate Investment Trust (REIT), has acquired a 30% stake in the operational Boston Hydroelectric plant, a new R390 million development with an operational lifetime of over 40 years by leading independent power producer Serengeti Energy within the Lesotho Highlands Water Scheme near Clarens. South Africa’s newest hydroelectric plant was certified for commercial operations by Eskom on Friday (17 October 2025) and has already started adding renewable energy to the national grid.

 As early as 2023, Growthpoint secured exclusive access to all the approximately 30GWh of renewable electricity generated by the plant annually, through its landmark 195GWh power purchase agreement (PPA) with licenced energy trader Etana Energy. Boston Hydro is the first project to come online in a mix of cost-saving, certified zero-carbon hydro, wind and solar electricity generation projects powering the PPA. The renewable electricity from Boston Hydro will supply 23 Growthpoint buildings, including 10 in Sandton Central and three in Cape Town.

Strategic investment advances energy security

 Growthpoint’s 30% stake in Boston Hydro continues its investment in renewable electricity sources and furthers its green energy transition which began more than a decade ago. The property group took its first steps into rooftop solar generation in 2011, from which is has grown a track record of practical, scalable, carbon reducing energy solutions for its business, tenants and South Africa.

Since its first installation, the property group has invested more than R1 billion in solar energy locally, grown one of South Africa’s largest Small Scale Embedded Generator (SSEG) renewable energy fleets and linked it to transparent certification frameworks. Growthpoint owns a fleet of 80 rooftop plants across its portfolio delivering 61.2MWp of capacity and generates a significant amount of clean electricity annually. A further 7MWp of solar installations are in the pipeline for commissioning by mid-2026.

Growthpoint now operates and procures one of South Africa’s most diversified private renewable energy portfolios, combining solar and hydro generation, with wind soon set to join its renewable energy mix as part of the PPA. Together with its rooftop solar, when its PPA with Etana Energy is fully operational, approximately 40% of Growthpoint’s total electricity demand will be supplied from renewable energy.

Powering up transparency too, Growthpoint verifies its renewable energy by registering the electricity generated on the International Renewable Energy Certificate (I-REC) registry via Fuel Switch, Africa’s first blockchain-enabled REC exchange. This ensures global transparency, traceability and accountability across its clean-energy portfolio.

Making renewable energy work for business

Bringing all this together is Growthpoint’s game-changing e-co₂ wheeled renewable energy initiative (which is short for electricity minus carbon dioxide and pronounced “eco two”). This solution is built around Growthpoint’s tenants — thousands of businesses, big and small, in all sectors of South Africa’s economy.

Growthpoint’s pioneering e-co₂ now officially delivers wheeled renewable electricity directly to 10 flagship office buildings in Sandton and their tenants, with the first electrons coming from the operational Boston Hydro over the national grid. e-co2 wheeled green electricity is stable and cost competitive for Growthpoint tenants, it has zero-carbon footprint and certified with tradable digital RECS.

Businesses can, for the first time in South Africa, cut their Scope 2 emissions from purchased electricity in select Growthpoint buildings. So, they can save money, advance their sustainability goals and report certified emissions reductions aligned with evolving IFRS sustainability reporting standards.

The launch of e-co2 positions Growthpoint as South Africa’s first provider of a commercial-scale wheeled renewable energy solution for multi-tenanted commercial properties, with building-level certification and benefits that are made available to tenants in a verified, auditable format.

Leading collaboration in South Africa’s private renewable energy market

Leading the way in bringing certified renewable energy into daily business use, e-co2 is built on unprecedented collaboration and leading-edge skills, cemented by deep environmental stewardship, that forms a connected ecosystem.

Together, Serengeti Energy’s independent power generation at Boston Hydro, Etana Energy’s wheeling offering and power purchase agreement, Growthpoint’s renewable energy offtake for its commercial properties and Fuel Switch’s digital REC registration have formed a pioneering collaboration advancing South Africa’s renewable energy transition.

Growthpoint sits at the centre of this transparent ecosystem, demonstrating how the property sector can lead the shift toward energy security and sustainability, while unlocking shared value for stakeholders.

 Estienne de Klerk, SA CEO of Growthpoint Properties, says: “We are incredibly proud of this innovative initiative, made possible by a visionary team, dedicated partners such as Etana Energy, Serengeti Energy, Fuel Switch and many passionate and talented people over a number of years. It not only benefits the immediate occupants of Growthpoint’s properties but helps to create a brighter and more sustainable future for South Africa.”

 Evan Rice, CEO, of Etana Energy, says: “Growthpoint and Etana’s clean energy partnership is accelerating renewable energy in a way that works for business, the country and the planet. Together, we’re making clean electricity accessible through the grid, securing long-term take-off for IPPs and enabling businesses to cut costs and carbon without complexity. It’s a scalable, transparent model for South Africa’s energy future.”

 Anton-Louis Olivier, CEO, Serengeti Energy, says: “Boston Hydro brings affordable, baseload renewable power to the grid reliably and around the clock. It’s the product of 15 years of operational experience across Africa. We’re proud to be the generation backbone of this ground-breaking clean energy partnership and powering a scalable solution for South African businesses through Growthpoint’s e-co₂.”

 Etana Energy: enabling renewable wheeling at scale, cost efficiently

 Etana Energy plays a pivotal role in bringing eco₂ to life for Growthpoint and its tenants. As a licensed electricity trader, Etana provides the platform that allows renewable electricity generated by independent power producers to reach Growthpoint’s buildings through South Africa’s electrical grid.

This is achieved through renewable electricity wheeling – the process that allows electricity users to buy electricity generated by private power projects located elsewhere in the country, like Boston Hydro, using existing transmission and distribution networks. For businesses in office nodes such as Sandton and the Cape Town Foreshore, this is a game-changer. In these areas, where building roof space is extremely limited, on-site solar generation is impractical, if not impossible.

Etana’s integrated trading platform provides a reliable and scalable mechanism for wheeling clean energy, opening access to affordable renewable energy for businesses across the country. Its collaboration with Growthpoint demonstrates how private-sector partnerships can drive meaningful progress towards a low-carbon, energy-secure future for South Africa.

Growthpoint’s long-term commitment to take up 195GWh of clean electricity annually from Etana Energy has already helped to unlock vital capital for the development of new renewable energy infrastructure for South Africa. In addition to the newly developed Boston Hydro plant, wind and solar generation from Etana’s growing renewable portfolio will be added to Growthpoint’s energy mix from 2026 onwards.

Serengeti Energy: powering progress sustainably

 At the generation end of the eco₂ collaboration, Serengeti Energy brings deep technical expertise and a proven track record in renewable power development across Africa. The company is the developer, constructor and operator of the Boston Hydro project, a 5MW run-of-river hydropower plant located on the Ash River within the Lesotho Highlands Water Project, which is the major water transfer scheme linking Lesotho and Gauteng.

Boston Hydro is the largest of six hydropower facilities along the Ash River and represents Serengeti Energy’s fourth operational hydro plant in South Africa. As a third-generation project of this leading independent power producer, it incorporates insights gained from Serengeti’s nearly 15 years of operating experience across the continent, enhancing system availability, lowering maintenance requirements and improving overall plant performance.

The plant will generate approximately 30GWh of renewable electricity annually, providing reliable 24/7 baseload power to Growthpoint’s eco₂ network through Etana Energy’s wheeling framework. This makes Boston Hydro a cornerstone of Growthpoint’s renewable supply mix.

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SA’s next generation aviation hub secures initial investment, development and managing partner 

Growthpoint Properties (JSE: GRT), South Africa’s leading Real Estate Investment Trust (REIT), has made an initial investment with the right to co-invest and develop the new Cape Winelands Airport precinct, marking the start of a strategic partnership to deliver the Western Cape’s next-generation aviation, hospitality and industrial hub.

Growthpoint, which co-owns Cape Town’s signature V&A Waterfront and holds group property assets to the value of R155.8 billion across retail, office and logistics properties, brings deep experience in large-scale, mixed-use and tourism-led precincts to the development of Cape Winelands Airport precinct. The privately-owned airport, set to be developed on the site of the airfield previously known as Fisantekraal, is designed to strengthen the region’s logistics, trade and tourism infrastructure.

The property group’s initial investment is one of several pillars in a long-term partnership for the design, development, delivery and management of the properties within the Cape Winelands Airport precinct. Under the agreement, Growthpoint will assume long-term property and asset management responsibilities across the 450-hectare aviation precinct’s logistics, commercial and hospitality components which excludes the terminal buildings, with the right of first refusal to co-invest in future property developments. It will also oversee the development’s main contractor to ensure institutional standards in transparent governance, financial discipline, positive environmental and social impact integration and development delivery.  

Partnering for pioneering regional growth

Nicholas Ferguson, Managing Director of RSA Aero, the company that owns and operates Cape Winelands Airport, says, “This partnership represents a step-change for Cape Winelands Airport. Growthpoint’s partnership provides the institutional foundation and delivery capacity needed to build an airport precinct of global quality that will serve the region for generations to come.”

The uniquely qualified Cape Winelands Airport team will lead aviation strategy and master planning of the international aviation hub while Growthpoint contributes institutional capital, property expertise and sustainability leadership. Together, they aim to develop a commercially driven world-class airport precinct that meets rising aviation demand, strengthens regional trade and tourism connectivity while exemplifying sustainability.

Norbert Sasse, Group CEO of Growthpoint Properties, comments, “Cape Winelands Airport and its visionary partners have set in motion a powerful catalyst for long-term value creation and a legacy asset for the Western Cape that enhances South Africa’s broader growth story. We are pleased to take part in this opportunity and to contribute to Cape Town’s and South Africa’s sustainable growth.”

The success of the V&A Waterfront – one of Africa’s most visited destinations – provides Growthpoint with first-hand insight into how well-planned tourism infrastructure can drive inclusive economic growth.

“Tourism and foreign direct investment are powerful economic multipliers that go hand in hand and we as Growthpoint have the opportunity to influence the tourist experience at both the Cape Winelands Airport and the V&A Waterfront,” notes Werner van Antwerpen, Growthpoint Properties’ Head: Corporate Advisory. “When tourism infrastructure works sustainably and at scale, jobs follow, cities thrive and communities benefit.”

A new platform for sustainable aviation and development

The airport is expected to sustain approximately 35,000 direct and indirect jobs and could sustain just over 100,000 direct and indirect jobs during its initial 20 years of operation. The development represents an expected initial investment of approximately R8 billion in Cape Town, which will deliver the terminal buildings, runway and a 450-hectare developable estate.

Growthpoint’s initial and right to future investments aligns with its South African capital allocation strategy, which prioritises outperforming locations, precincts and property sectors, including Cape Town and modern logistics facilities, while driving sustainability initiatives towards the goal of carbon neutrality by 2050.  

Cape Winelands Airport aims to be the greenest airport in the world, embedding sustainability at every phase of development. It will function largely with renewable energy and be supported by water reuse systems, driving a carbon-neutral agenda. Growthpoint’s established environmental, social and governance (ESG) leadership will guide the project’s sustainability framework.

“Our commitment to Cape Winelands Airport aligns with Growthpoint’s purpose of creating space to thrive. The project is centred around aviation, but it’s also about unlocking inclusive growth, enabling enterprise and setting new standards for sustainable development,” notes Sasse.

Pending Environmental Impact Assessment approvals, construction of Cape Winelands Airport could begin in early 2026. The development will proceed in phases, starting with runway and safety infrastructure, followed by the terminal, cargo and industrial precincts. On this timeline, the airport is targeted for commissioning by 2028 with capacity for more than five million passengers annually by 2050. The full rollout will unfold over more than two decades, in step with the region’s evolving growth and infrastructure needs.

Infrastructure for the Western Cape’s future

Once operational, Cape Winelands Airport will serve as a second major aviation gateway for the province, easing pressure on existing infrastructure, reducing costs and carbon emissions for operators and welcoming local and international tourists to the Cape’s renowned winelands.

The new airport will also become a new hub for business, hospitality and tourism, supported by the area’s expanding population, dynamic economy and exceptional setting. It will anchor new investment along the Cape Winelands corridor and support Cape Town’s natural expansion northwards – its only viable growth route – with infrastructure necessary for the success of the city’s next chapter.  

“This partnership ensures the Cape Winelands Airport precinct is backed by South Africa’s most credible property investor. Together with Growthpoint, we’re not just building an airport – we’re building a long-term platform for investment, innovation and opportunity in the Western Cape,” concludes Ferguson.

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The Greenovate Awards are back for 2025 with more prizes, new categories and an important milestone to celebrate – ten years of inspiring young people to design practical sustainability solutions for South Africa’s built environment.

Entries are open for the prestigious competition, founded in 2015 by Growthpoint Properties in partnership with the Green Building Council South Africa (GBCSA). Since its launch, Greenovate has grown into the country’s leading platform for student sustainability innovation, giving honours and final year students the chance to see their ideas tested against real industry challenges.

A decade of positive impact

 Greenovate was created to bridge the gap between academia and industry. At the time, students were graduating with strong technical skills but little exposure to sustainability in practice. Growthpoint and the GBCSA set out to change that, giving students access to mentorship, real projects and the opportunity to present their research to senior leaders in the property and engineering sectors.

Over the past ten years, Greenovate has done more than launch careers. It has become a recognised talent pipeline for the industry, introducing new thinking and fresh energy into the conversation about sustainability. More than R1 million in prize money has been awarded to students from over nine universities nationwide, across property, engineering and proptech streams.

Winning ideas have gone on to influence the market, with Growthpoint piloting projects such as a smart energy management system developed by student winner Julian Banks. Alumni including Wardah Peters have returned to the programme as mentors, showing how Greenovate has built a community of sustainability professionals and thought leaders.

Mentors and judges say the standard and quality of work has grown steadily. Students are bolder, more practical and increasingly fluent in ESG principles and real-world implementation. For many participants, Greenovate has been a turning point in their careers, giving them confidence to pursue roles in sustainability and the built environment.

What’s new for 2025

 To celebrate its tenth anniversary, Greenovate has added two new awards, each worth R10,000 and sponsored by Growthpoint.

The Sustainability in Action Award will go to the engineering project with the best potential to be implemented within Growthpoint’s portfolio or systems. Judges will be looking for relevance to Growthpoint’s sustainability objectives, ease of implementation and measurable impact on resource efficiency, emissions reduction or operational cost savings.

The Transformative Impact Award will recognise the property, quantity surveying or construction project that demonstrates the strongest alignment with the United Nations Sustainable Development Goals and overall ESG performance. Criteria include clear links to SDG targets, contribution to ESG indicators and measurable impact on global sustainability priorities.

These new prizes add to an already significant prize pool. The top three projects in both property and engineering will receive R40,000, R20,500 and R14,000 respectively. The competition also offers the coveted IFC prize linked to EDGE Expert Accreditation, and top students benefit from GBCSA Accredited Professional candidate courses.

Platform for a more sustainable future

 Finalists present their projects to an expert panel of judges, and winners are announced at the Greenovate Awards gala dinner. Top teams are also invited to participate at the Innovation Stage at the annual GBCSA Convention – a career-defining opportunity to showcase their work to business leaders and influencers.

“Reaching the ten-year mark with Greenovate is a proud moment for Growthpoint. This initiative has grown into a genuine talent pipeline for the property industry, bringing fresh thinking into how we manage and develop sustainable buildings. What excites us most is seeing student ideas translate into solutions that can be implemented in our world today. By investing in young innovators, we are investing in the future of the built environment and the resilience of our sector,” says Engelbert Binedell, Chief Operating Officer of Growthpoint Properties.

“Greenovate was created to give students a voice in the sustainability conversation, and ten years later it has become a powerful platform for the next generation of leaders. Every year we see young people tackling complex challenges with creativity and rigour, and that gives us real confidence in the future of green building. The competition has not only shifted student perspectives, it has also influenced the industry by embedding sustainability into education, research and professional practice,” says Lisa Reynolds, Chief Executive Officer of the Green Building Council South Africa.

Greenovate has always been about more than prize money. It is about giving students the confidence and tools to see themselves as future leaders in the built environment, and about creating a platform where students, mentors and senior industry figures engage as equals in shaping a more sustainable future.

Entries for the 2025 Greenovate Awards close on 10 November 2025. The competition’s mentoring day is 26 November, and the judging and gala dinner take place on 27 November. The competition is open to honours and final year students in property studies, construction, quantity surveying and engineering.

This year, as Greenovate celebrates its tenth anniversary, the call is not only to participate but to be part of the next decade of ideas, innovation and impact.

Students can register and find more information at www.greenovatecompetition.co.za/register.

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Growthpoint Properties (JSE:GRT) excelled at this year’s South African Property Owners Association (SAPOA) Property Development Awards for Innovative Excellence, taking home three prestigious wins, including top honours. The recognition highlights Growthpoint’s leadership in shaping South Africa’s built environment through transformative, high-impact developments.

Two of Growthpoint’s recent projects were celebrated. Canopy by Hilton Cape Town Longkloof, situated in its distinctive Longkloof mixed-use development, won the Overall Best Development Award along with Best Mixed-Use Project. Thrive @ Crescent Studios in Johannesburg, won Best Student Accommodation Project.

Excellence in property development

The SAPOA Awards for Innovative Excellence recognise projects that redefine South Africa’s property landscape through design, sustainability, functionality, and positive social impact. Developments are judged across a range of categories, with winners representing the very best of the sector.

Growthpoint’s success at this year’s awards demonstrated the company’s ability to deliver projects that balance commercial value with broader contributions to their communities.

Canopy by Hilton Cape Town Longkloof: a landmark in mixed-use urban renewal

In Cape Town, Growthpoint’s Canopy by Hilton Cape Town Longkloof is a gem in the mixed-use historic Longkloof precinct on the edge of the CBD. Covering 16,500m², the project involved refurbishing five heritage buildings, selective demolitions and the addition of a new 154-key five-star hotel.

Working with dhk Architects, the development has transformed the once landlocked Longkloof site into a vibrant, mixed-use destination that integrates office, retail and hospitality. Public spaces, pedestrian walkways, retail outlets, cafés and Longkloof Square now enliven the Longkloof precinct’s street life and enhance connectivity to the city.

Growthpoint replaced surface parking with three levels of underground parking, freeing up space for urban activity and seamlessly linking the different uses in Longkloof. The project is a model of how heritage preservation and modern development can work in harmony to deliver urban renewal at scale.

The SAPOA judges recognised its complexity, design quality and catalytic impact on Cape Town’s city centre.

Thrive @ Crescent Studios: redefining student living

Located just a minute’s walk from the University of the Witwatersrand, Thrive @ Crescent Studios represents a new benchmark in student accommodation. The twelve-storey, purpose-built residence offers 871 beds across 351 well-designed apartments, providing studio, two- and three-bedroom options. Each unit features private kitchens and bathrooms, giving students apartment-style living with the comforts of independence.

Beyond its scale, the project is distinguished by the comprehensive lifestyle it offers. Students benefit from dedicated study zones on every floor, a fully equipped computer lab, and collaboration rooms to support academic focus and peer connection. Social and wellness amenities include a rooftop entertainment area, gym, laundry facilities, games room, braai areas and a multi-sport court.

The building’s thoughtfully designed interiors create a warm, modern environment where students can live, learn and grow. By integrating academic, social and lifestyle facilities, Thrive @ Crescent Studios delivers a holistic campus experience that is supportive and empowering.

A proud moment for Growthpoint

Estienne de Klerk, SA CEO of Growthpoint Properties, expressed his pride in the recognition. “Winning three awards at this year’s SAPOA Awards is a tremendous honour for Growthpoint. Canopy by Hilton Cape Town Longkloof and Thrive @ Crescent Studios both demonstrate our commitment to creating developments that add real value – not just for investors and tenants, but for the people and communities who use them every day.”

Reflecting on the Longkloof project’s dual awards, he added “The recognition of Canopy by Hilton Cape Town Longkloof as Overall Best Development is especially meaningful. The Longkloof mixed-use precinct was a complex undertaking that required balancing heritage preservation with bold urban renewal. The result is a development that invests in the heart of Cape Town, celebrates its history and creates a vibrant destination for the future.”

As South Africa’s leading real estate investment trust (REIT), Growthpoint has built a reputation for innovation, quality and sustainability. The company’s strong showing at the SAPOA Awards reaffirms its position as a leader in shaping the country’s-built environment.

De Klerk concluded “These awards inspire us to keep raising the bar in everything we do. We are committed to developing properties that respond to South Africa’s evolving needs and meet our strategic priorities, while contributing to more liveable, sustainable and inclusive cities.”

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Growthpoint Properties Limited (JSE: GRT) delivered results exceeding the top-end of its guidance for the financial year ended 30 June 2025, reporting distributable income per share (DIPS) of 146.3cps, up 3.1% from the prior financial year, and a total dividend per share (DPS) of 124.3cps, an increase of 6.1%.

Growthpoint’s return to growth comes a full year earlier than initially expected.

Growthpoint entered the 2025 financial year (FY25) forecasting an earnings contraction of -2.0% to -5.0%. Better-than-expected half-year results, driven mainly by improved performance from the South African portfolio, better finance cost expectations and outperformance from the V&A Waterfront, marked a turnaround and Growthpoint upgraded its guidance to positive growth of between 1.0% and 3.0%. A further upgrade in June 2025 tightened the guidance range at the upper end of between 2.0% and 3.0%.

The same factors contributing to Growthpoint’s half-year outperformance, cemented its positive performance in the second half.

Norbert Sasse, Group CEO of Growthpoint Properties, comments, “This strong set of results shows that Growthpoint has done well to exceed expectations and deliver solid earnings growth while executing our strategic priorities. The progress made in further strengthening our SA portfolio is evident in its improved performance. The V&A Waterfront once again delivered stand-out results. Streamlining our international investments has simplified our capital structure and equity story, and disciplined treasury management kept finance costs below expectations.”

 The watershed year also resulted in Growthpoint upgrading its payout ratio to 87.5% for the second half. Together with the 82.5% payout ratio for the first half, Growthpoint’s payout ratio for the full year is 85.0%.

Shifting its outlook from cautious to optimistic, Growthpoint will maintain its payout ratio at 87.5% for the 2026 financial year (FY26). The reset to the higher payout ratio reflects Growthpoint’s strong balance sheet, effective strategy execution and disciplined capital management leading to positive momentum in SA property values and operations and a simpler international investment capital structure. Growthpoint’s strong position is further reinforced by the tailwinds of decreasing interest rates and a growth phase taking shape in the property cycle.

FINANCIAL PERFORMANCE

 Growthpoint delivered rewarding financial results in the face of ongoing external pressures. Total property assets stand at R155.8bn compared to R166.2bn for the 2024 financial year (FY24), with strategic disposals to optimise the international investment portfolio being the main factor contributing to the 6.3% decrease. The Group SA REIT loan-to-value (LTV) ratio decreased to a conservative 40.1% from 42.3% at FY24, while the interest cover ratio (ICR) improved to 2.5x. Growthpoint retains strong liquidity, with R0.9bn in cash and R4.7bn in unutilised committed debt facilities and enjoys excellent access to funding at attractive margins.

Finance costs in SA decreased, stemming from lower average borrowings compared to FY24 and a lower weighted average cost of debt in FY25 of 8.9% (FY24: 9.6%), and 6.9% (FY24: 7.2%) when including foreign exchange instruments.

“LTV ratios, linked to valuations, have now stabilised. Growthpoint remains committed to balance sheet resilience and liquidity for the long term, underpinning our continuing access to competitive funding and maintaining financial flexibility,” notes Sasse.

STRATEGIC PRIORITIES

 Growthpoint has a diversified portfolio and defensive income streams. It successfully advanced its strategic initiatives to improve the quality of its SA portfolio including driving sustainability initiatives towards the goal of carbon neutrality by 2050, and to optimise its international investments.

Improving the quality of the directly held SA portfolio of logistics and industrial, office and retail properties, Growthpoint is focused on disposals, developments and targeted investments.

Over the past decade, it has trimmed asset numbers in the portfolio from 471 to 328, reducing gross lettable area by 18.9%. While the property count has reduced, the core SA portfolio has been significantly improved with quality income streams. In FY25, Growthpoint disposed of 25 non-core (including trading and development) properties for R2.5bn at a R37.9m profit to book value and invested R1.6bn in value-adding development and capital expenditure.

As a result of its portfolio enhancement over the past decade (from 1 July 2016), Growthpoint has strategically grown its logistics and industrial assets from 15.0% to 20.0% of the total SA portfolio value. To achieve this, it reduced property numbers from 247 properties totalling 2.2m square metres gross lettable area (GLA) to 143 properties just shy of 1.8m square metres, selling primarily older industrial and manufacturing facilities while increasing its exposure to modern logistics warehouses, which are now nearly half of the portfolio, and to better performing nodes.

It also reduced its office exposure from 46.0% to 40.0% of portfolio value, streamlining the portfolio from 186 properties to 146 or 1.6m square metres of GLA, by reducing exposure to B‑ and C‑grade assets and those in non-core business nodes and aligning its office assets more closely with modern business aspirations and operational needs.

Retail property assets remained a steady 39.0% of the total portfolio value, but the number of retail properties has nearly halved from 61 to 32 and now spans 1.1m square metres of GLA. The shift has seen Growthpoint exiting non‑core retail in declining nodes and central business districts, and smaller, niche segments such as motor dealerships. At the same time, extensive redevelopments and upgrades at all its long-hold shopping centres have resulted in a more focused, modern and relevant retail portfolio.

Optimising its international investments, Growthpoint simplified and enhanced its capital structure and equity story by disposing of its entire stake in C&R to NewRiver REIT (NRR) in December 2024, receiving R1.16bn cash and a 14.2% stake in NRR, using proceeds to reduce debt. Post-year-end, Growthpoint disposed of its entire NRR stake at a market premium price of 75.0pps raising gross sale proceeds of R1.3bn thereby exiting its investment in the UK while bolstering its balance sheet and liquidity position.

Growthpoint continues to evaluate options to maximise value from its 29.6% stake in Globalworth Real Estate Investments (GWI), where it is supporting value-unlock initiatives. Progress is being made with constructive discussions amongst the shareholders in respect of the future strategy for the company.

The 63.6% stake in Growthpoint Properties Australia (GOZ) remains core.

Growthpoint owns 15.7% of Lango Real Estate Limited (Lango) which internalised its asset management function and was redomiciled to the UK during the year. Growthpoint now classifies its investment in Lango as an international investment, and no longer as part of Growthpoint Investment Partners (GIP).

SOUTH AFRICAN PORTFOLIO

 In SA, Growthpoint owns and manages a R66.7bn diversified core portfolio of retail, office, logistics and industrial, and trading and development properties, representing 50.1% of Growthpoint’s total asset book value. This portfolio contributed 51.2% of DIPS.

Rental renewal growth improved materially while vacancies reduced moderately, and like-for-like net property income (NPI) grew at 5.9%. Arrears remain firmly in check. Together, these improving metrics signal positive momentum, and all three of the portfolios are showing like‑for‑like growth. The SA balance sheet is robust, with conservative leverage at 34.5% (FY24: 35.4%) providing capacity to grow decisively.

The SA portfolio value increased 2.2% or R1.4bn, driven by disciplined capital recycling with proceeds from its R2.5bn in assets sales (R2.7bn including R120.0m for Fountains View sold to Growthpoint Student Accommodation Holdings) fuelling reinvestment and targeted development to improve the portfolio quality.

The office portfolio delivered the most pronounced improvement in the SA portfolio, achieving a meaningful turnaround in like-for-like NPI from -1.0% to +6.8%, driven by steady letting and disciplined cost and recovery management. Vacancies reduced to 14.6% with a sharp improvement in rental renewal growth from -14.8% to -3.2%, and over half of leases were signed at equal or higher rentals. For the second year, the office portfolio printed positive valuation growth of 1.9%.

While oversupply persists in the broader office market, Growthpoint’s results signal a clear positive trend and more improvement ahead, although potentially uneven as significant offices leases were renewed post year-end with negative reversions which will have an impact on the sector’s FY26 renewal growth rate. Growthpoint curates its office portfolio to accommodate modern businesses and concentrates its assets in high-demand areas. It completed the Longkloof mixed-use precinct development in Cape Town, including the Canopy by Hilton hotel. Growthpoint’s net-zero carbon redevelopment at 36 Hans Strydom for Ninety One on a 15-year lease, is well progressed and set for completion later this year.

 The logistics and industrial portfolio delivered the strongest performance. Vacancies reduced and were contained to only a few properties. The two vacancies at new speculative developments at year-end are now fully let. Encouraging demand signals vacancies are likely to decrease even further. Like-for-like NPI increased 5.5% and the portfolio value, which remains conservative, grew by 3.1%. Rental escalations, both in-force and on renewal, are trending upwards, with 59.0% of new and renewed leases signed at the same or higher rentals. High-quality developments have strengthened the portfolio, including new units at Centralpoint and the second phase of Arterial Industrial Estate.

With fewer properties of better quality, nearly half of which are logistics and warehouse properties, this portfolio has evolved into a more focused, higher-performing selection of assets. The portfolio metamorphosis is set to continue, with a strong pipeline of demand-aligned speculative developments.

The retail portfolio delivered a solid performance, marked by like-for-like NPI growth of 5.3% and consistently low core vacancies of 4.4%. Portfolio value increased 2.2%, supported by value-adding upgrades improving the portfolio quality through expansions, redevelopments, tenant mix enhancements, consumer-focused updates and solar installations, as part of the ongoing portfolio repositioning supported by recycling capital. These highly targeted asset management interventions are driving rental upside.

Retail fundamentals in the portfolio continued to improve, with footfall growing and trading density increasing at 4.8%, outperforming the Clur benchmark. Community centres led annual trading density growth by type (7.6%) while Western Cape shopping centres outperformed by region (5.3%). Top-performing retail categories for trading density growth included non-discretionary food (8.2%), department stores (6.8%) and homeware, furniture, and interiors (7.0%).

SA trading and development is delivered by the in-house Growthpoint Trading & Development division, which creates value through internal delivery of new developments for Growthpoint’s balance sheet and has an external mandate to earn third-party development fees and trading profits. This year it concentrated on industrial and retail developments that strengthen long-term portfolio quality while third-party projects played a smaller role. The division earned R51.6m (FY24: R42.2m) of trading profits and R3.1m (FY24: R25.4m) of NPI, but no development fees (FY24: R9.8m). FY26 represents a new cycle of third-party developments commencing when the landmark Olympus Sandton residential towers, which is being undertaken in partnership with Tricolt within Growthpoint’s Sandton Summit mixed-use precinct, breaks ground later this month.

Sustainability is integrated across Growthpoint’s business. As an innovator in this space, Growthpoint is making measurable progress against its goal to achieve net-zero carbon emissions across its portfolio by 2050.

Scaling practical and smart solutions for energy saving while expanding renewable energy generation, Growthpoint has cumulatively spent R1bn on installed solar, with 80 plants and a PV capacity of 61.2MWp placing it on par with a commercial-scale renewable utility.

Growthpoint’s innovative e-co₂ solution will deliver certified green electricity at cost-saving fixed escalations directly to its tenants at 10 of its Sandton office buildings next month (October 2025). It is anchored by a 195GWh power purchase agreement with Etana Energy, signed in 2023, drawing on hydro, wind, and solar supply equal to 32.0% of Growthpoint’s energy consumption for its 2023 financial year.

The first electrons of e-co₂ renewable electricity will be wheeled from October 2025 via the national grid from the Boston Hydroelectric Plant in the Lesotho Highlands Water Scheme, developed in partnership with Serengeti Energy. E-co₂ provides tenants with three benefits: certified zero-carbon electricity, blockchain registered Renewable Energy Certificates (RECs) that can be used as verified proof of Scope 2 carbon emission reductions or traded on global renewable energy markets, and cost-saving fixed escalations.

Growthpoint is driving water resilience and waste reduction through targeted programmes designed to cut intensity across the portfolio. Over the next three years, it projects saving 89.4 megalitres of water. This year, it diverted 43.0% of waste from its properties from landfill and is on track to reach 50.0% next year. Its water resilience infrastructure continues to grow, with 40 registered boreholes and 162 backup facilities providing nearly 10,000 kilolitres of storage capacity.

Growthpoint is a Level 1 B-BBEE contributor and invested R58 million in corporate social responsibility during the year, with a strong focus on its flagship education projects. Its social investment directly benefitted 7,316 individuals, while enterprise development initiative Property Point sustained 216 jobs.

“With deep specialist expertise and our significant portfolio, Growthpoint is advancing our ESG commitments and reshaping how real estate investment delivers environmental and social returns,” says Sasse.

V&A WATERFRONT

Growthpoint’s 50.0% interest in the V&A Waterfront in Cape Town has a property value of R13.3bn, which makes up 10.0% of Growthpoint’s total asset book value and contributed 16.3% to DIPS. Once again, the V&A delivered excellent performance. NPI increased 10.4% even with the Lux Mall and The Table Bay hotel temporarily undergoing value-adding redevelopment. Growth was driven by a full year of trading from newly introduced operational businesses in the hotel sector as well as those that opened during the year, the income activation of the Union Castle building in December 2024 and a strong cruise season. Vacancy is negligible, holding steady at 0.3%. Like-for-like NPI grew 12.7%.

NPI from operating businesses, where the V&A enjoys both the rewards and risks of a revenue-sharing model versus the traditional pure-rental model, increased to 16.0% of NPI from 10.0% in FY24. The V&A now has three hotels with nearly 600 keys under operating agreements. The Radisson Red Hotel delivered standout growth. Increased tourism, reflected in 6.0% more international visitors arriving at Cape Town International Airport in FY25, drove turnover rental gains across hotels, attractions and retail. The V&A drew 24 million visitors.

Retail sales increased by 5.8% reaching over R10.0bn, with further upside ahead as the new 3,759m² Lux Mall is set for phased occupation post-completion in December 2025. Office NPI increased by 17.0% and like-for-like by 10.0% on the back of strong demand, near-zero vacancy, high renewal rates and modest rental growth. The marine and industrial segment saw increases across the board in cruise vessels visits, casual birthing and charter boats.

Hotels, residential and leisure increased NPI by 10.0% with like-for-like growth of 27.0%. The V&A’s hotels recorded 23.8% higher average daily rates, steady occupancy and increased overall revenue per available room. A new luxury hotel with branded residences will launch mid-2026. Residential vacancies remain low and construction on the new 5 Dock Road apartments began this year, targeting completion by December 2025.

GROWTHPOINT INVESTMENT PARTNERS

 Growthpoint’s alternative real estate co-investment platform, GIP, is 1.8% of Growthpoint’s total asset book value and contributed 3.8% to DIPS. It includes two funds distinct from Growthpoint’s core assets. Growthpoint Student Accommodation Holdings, operating under the Thrive Student Living brand, attracted R425m in new equity during the year. Growthpoint Healthcare Property Holdings expanded its mandate to include aged living and hospital-linked medical consulting rooms as it continues to drive scale. GIP closed the period with R8.6bn of assets under management, evenly weighted between the two funds.

INTERNATIONAL INVESTMENTS

 Growthpoint continues to optimise its international investment. On 30 June 2025, 38.0% of property assets by book value were located offshore, and 28.7% of its DIPS was generated offshore. Foreign currency income of R1.4bn (FY24: R1.6bn) reflected the streamlined capital structure achieved during the year.

GOZ, which invests in high-quality industrial and office properties in Australia, accounts for 23.2% of Growthpoint’s total assets by book value and contributed 20.4% to its DIPS. Growthpoint received a steady R1.0bn net distribution from GOZ. GOZ’s distribution decreased 5.2% to AUD18.2cps (FY:24: AUD19.3cps) which excludes a special distribution of AUD2.1cps distributed to compensate for the increased dividend withholding tax due to the sale of industrial assets. GOZ’s payout ratio for FY25 was increased to 87.0% from the prior year’s 80.7%.

GOZ maintained a strong balance sheet and reduced gearing from 40.2% to 39.7%. The directly owned GOZ portfolio performed well, with occupancy remaining high at 94.0% (FY24: 95.0%) and a 5.6-year weighted average lease expiry.

The year was marked by strong momentum in GOZ’s funds management business. GOZ divested its non-core holding in Dexus Industria REIT and established the AUD198 million Growthpoint Australia Logistics Partnership with TPG Angelo Gordon owning 80.0%. It also launched the Growthpoint Canberra Office Trust, which acquired a high-yielding, primarily government-leased, A-Grade office building in Canberra’s CBD. Despite this momentum, performance was tempered by increased costs, lower lease surrender fees and high exposure to Melbourne office assets. The local market continues to recover gradually with valuations under pressure due to policy headwinds and delayed interest rate cuts. Cap rates valuations are stabilising. GOZ issued FY26 distribution guidance of AUD18.4cps.

GWI, which invests in offices and mixed-use precincts in Poland and in Romania where it also develops logistics parks, represents 12.2% of Growthpoint’s total assets by book value and a 5.1% contribution to DIPS. GWI displayed fundamental improvement with stronger key metrics. The portfolio value increased by 0.8% to EUR2.6bn. The capital cities of Warsaw and Bucharest continued to outperform regional markets. Like-for-like NPI grew 6.0%, offset by higher interest costs due to the recent Eurobond refinance.

Gearing remains a low 38.0% and liquidity strong with EUR325m of cash on hand and EUR115.0m of undrawn debt. GWI’s improved financial strength is reflected in cash dividends replacing prior scrip payments, although distribution growth has yet to follow, with a 33.3% decrease in distribution per share to EUR14.0cps dampened by higher finance costs and the EUR5.9m impact of a new tax policy in Poland.

GWI continues to invest in its portfolio, including its current refurbishment of the 48,300m² Renoma mixed-use property in Poland. In Romania, it delivered and secured a 20-year lease on 5,900m² of the Craiova Logistics Hub.

Lango, which invests in prime commercial real estate assets in key gateway cities across the African continent (excluding SA), accounts for 1.7% of Growthpoint’s total assets by book value and made a 0.2% contribution to DIPS. Lango finalised the acquisition of USD200m of assets from Hyprop Investments Limited and Attacq Limited, further cementing its position as the premier African real estate investment vehicle north of SA. Growthpoint received R11.0m dividend income from Lango.

Growthpoint has exited its investment in the UK, selling its stakes in C&R and, post FY25, NRR. At year-end the investment in NRR represented 0.9% of total assets by book value, which made a 3.0% contribution to DIPS.

LOOKING AHEAD

 Growthpoint sees the property cycle entering a growth phase. Driving this positive shift are the improving performance from Growthpoint’s SA portfolio driven by strengthening property fundamentals, continued outperformance by the V&A, GOZ’s strong operational fundamentals and reduced interest rates.

Key metrics are improving consistently across all three SA sectors, supported by Growthpoint’s capital recycling strategy into higher-yielding opportunities with non-core SA asset sales of R3.5bn targeted for FY26. The V&A Waterfront is on track for double-digit growth. Reduced finance costs will continue to benefit the business.

On the international front, elevated capital costs domestically and globally, continue to constrain prudent investment growth.

For FY26, Growthpoint guides DIPS growth between 3.0% and 5.0% and DPS growth of between 6.0% and 8.0%, with a payout ratio of 87.5%.

“Growthpoint’s diversified portfolio and income streams, and its embedded sustainability, which are all constantly being improved by skilled leadership and dedicated teams, position it strongly for FY26. The positive momentum across the portfolio is clear, and it is being driven by operational resilience and strategic execution,” concludes Sasse, who will lead the business for one more financial year before handing over the Group CEO role to current SA CEO Estienne de Klerk on 1 July 2026.

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 Growthpoint Properties (JSE: GRT) is giving a massive boost to Africa’s first open blockchain-enabled Renewable Energy Certificate (REC) exchange, Fuel Switch, while unlocking certified clean energy trading for tenants when its e-co₂ green energy initiative goes live on October 2025.

Wheeled green energy is available for daily business in South Africa from October

Growthpoint’s e-co₂ will deliver its first green electrons to 10 Sandton office buildings in October, with hydropower wheeled over the national grid from the Boston Hydroelectric Plant, newly developed in the Lesotho Highlands Water Scheme in partnership with Serengeti Energy. The e-co₂ roll-out puts Growthpoint well ahead in bringing certified renewable energy into daily business use. e-co₂ wheeled green electricity is cost competitive for Growthpoint tenants and has a zero-carbon footprint, so they can save money and advance their sustainability goals.

Growthpoint has a long-standing track record in sustainable property innovation. For e-co₂, the company signed a 195GWh Power Purchase Agreement with Etana Energy in 2023, securing a mix of hydro, wind and solar power. This energy underpins Growthpoint’s pioneering e-co₂ solution, which delivers wheeled renewable electricity directly to commercial buildings and their tenants.

But the real breakthrough lies in how this energy is certified, tracked and monetised for Growthpoint’s tenants. To deliver this capability as part of a growing suite of high-impact business-enabling tenant benefits, Growthpoint partnered with Fuel Switch, a blockchain-based energy tech platform and recent winner of the Agence Française de Développement’s Digital Energy Challenge.

Partnering for innovative green energy certification

Fuel Switch’s platform certifies the electricity as green using IoT, blockchain and AI, providing independent third-party verification in an innovative manner. Once certified, the green energy benefit is recorded on a digital certificate.

Each REC confirms that one megawatt-hour of renewable energy has been generated and supplied to the national grid. The RECs are stored on the blockchain as a digital asset. Each is time-stamped and linked to a renewable energy source.

Think of it like this: when a solar panel generates electricity, it creates two things – actual power, and a certificate that says, “this power came from a clean, renewable source”.

Certified green energy: a valuable new currency for business

 Corporates have come under increasing pressure to meet net-zero and ESG commitments. On top of this, sustainability reporting is increasingly carrying the same weight and scrutiny as financial reporting.

RECs can be redeemed for certified reduction of Scope 2 Carbon emissions. Fuel Switch integrates directly with South Africa’s national REC registry, zaRECs, as well as the global I-REC standard governed by the I-TRACK Foundation. Its blockchain platform provides an immutable record for each REC from issuance to retirement, which ensures auditability aligned with global ESG standards.

What’s more, with South Africa’s constrained economic growth, businesses are under immense pressure to grow and find new revenue streams. RECs can be monetised by selling them on the voluntary REC market where rights to green electricity are sought after.

Large companies — Google, Amazon, Microsoft, Apple, and Meta — are a driving a surging demand for RECS as they seek to reach 100% renewable electricity for their operations.

Until now, Africa’s participation in the voluntary RECs market has been limited. High costs, slow manual processes and opaque trading made it accessible to only the largest-scale projects.

That changes in October 2025.

When e-co₂ goes live, Fuel Switch will enable Growthpoint tenants of all sizes to access this new market.

 Green energy trading made simple for Growthpoint tenants

What makes this collaboration unique is the functionality pioneered and developed by the partnership, which integrates Fuel Switch directly into Growthpoint’s property portfolio, green energy data and IT systems. The innovation lies in blockchain smart contracts that use IoT devices and business logic to bring all stakeholders together with a digital handshake.

As e-co₂ rolls out from October, participating tenants in select Growthpoint buildings will have their smart electricity meter consumption data automatically sent for verification, and the corresponding RECs will be issued directly into secure digital wallets. These wallets are free for Growthpoint tenants and accessed through the Fuel Switch Exchange platform, allowing tenants to access, manage and deploy their RECs based on business needs. They can redeem them to lower emissions or sell them for additional revenue.

This makes Growthpoint the first to offer a commercial-scale, wheeled renewable electricity solution where renewable energy use is certified at the building level and the benefits are made available to tenants in a verified, auditable format.

Fuel Switch’s elegant innovation behind the scenes

Fuel Switch explains that an elegant system of automated actions executes predetermined smart contract rules embedded a secure blockchain data base. The result? Green energy that is independently certified with the highest level of trust and transparency and direct access to an evolving trading market that is usually inaccessible to all but the biggest players due to high participation costs.

With Fuel Switch, transactions that previously took weeks can now settle virtually instantly. Its smart contract technology is a much more cost-effective way to transact leading to marginal fees. Its infrastructure is capable of handling over 10,000 transactions per second, and it is already trusted by major corporates in South Africa.

Democratising the green economy

Werner van Antwerpen, Growthpoint’s Head: Corporate Advisory, says the platform opens new doors, “It is a game-changer for how businesses can participate in clean energy markets and carbon reduction reporting. By combining our e-co₂ wheeled green electricity property portfolio with Fuel Switch’s blockchain technology, we’re opening the green energy market to businesses of all sizes, creating measurable environmental impact and generating real financial value.”

 Gideon Maasz, COO of Fuel Switch, adds: “Our mission is to make participation in the green economy easier, quicker, more cost effect and more transparent. Our partnership with Growthpoint accelerates this goal. With blockchain as the backbone, every REC is verifiable, tradeable, and audit-ready, fully aligned with evolving IFRS sustainability reporting standards.”

 While both e-co₂ and the Fuel Switch integration support Growthpoint’s long-term environmental goal to achieve net-zero carbon emissions across its portfolio by 2050, the implications are much, much bigger. These solutions are built around Growthpoint’s tenants — thousands of businesses, big and small, in all sectors of South Africa’s economy.

More than that, understanding that a vibrant and healthy green energy market is crucial for energy security and job creation, the development Fuel Switch has undertaken with Growthpoint will expand the green economy for others too. As an open platform, Fuel Switch can be used by any business or individual, globally.

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Group Chief Executive Officer and Group Chief Financial Offi

The Board of Directors of Growthpoint Properties Limited (JSE: GRT) is pleased to announce planned leadership appointments as part of the company’s long-term succession strategy. Estienne de Klerk will be appointed as Group Chief Executive Officer, effective 1 July 2026, and José Snyders will step into the role of Group Chief Financial Officer effective 1 January 2026.

Well planned leadership transition

Growthpoint plans leadership changes well in advance to ensure stable, experienced leadership and a strong, embedded culture to deliver sustainable long-term value to its stakeholders.

In 2022, Growthpoint reported that the current Group CEO Norbert Sasse would retire from the role. The Board is pleased to confirm that Estienne de Klerk, currently Growthpoint South Africa CEO, will succeed Sasse as Group CEO effective 1 July 2026. De Klerk’s appointment follows a structured succession planning process overseen by the Board over several years.

De Klerk is a Chartered Accountant and a Harvard Business School alumnus, having recently completed the Advanced Management Programme. He holds a BCom in Industrial Psychology and BCom Honours degrees in Marketing and Accountancy from the University of Johannesburg. He is also a certified Master Practitioner in Real Estate (PPRA).

With three decades of experience across banking and listed property, and nearly 20 years with Growthpoint in a progression of senior executive roles, de Klerk has deep expertise in capital markets, mergers and acquisitions, operations, BBBEE and industry transformation.

He has held numerous leadership roles in the sector, including Chairman of the SA REIT Association, Past President of the South African Property Owners Association and founder of the Property Industry Group, which supported the sector through the Covid-19 pandemic. He also serves on the boards of key Growthpoint investments, including V&A Waterfront Holdings Pty Ltd and Growthpoint Properties Australia Ltd.

The Board also announces that Gerald Völkel is retiring as Group Financial Director on 31 March 2026 and will be succeeded by José Snyders as Group CFO and Executive Director. Snyders is the current CEO of Liberty Two Degrees Ltd (L2D), a role he assumed following a successful tenure as both Commercial Director and Financial Director of that company. He is a Chartered Accountant with a Bachelor of Commerce degree and two honours degrees specialising in financial analysis and portfolio management and financial accounting. With over 22 years of experience spanning financial services, investment banking and listed real estate, he brings with him a deep blend of strategic, operational and capital markets expertise.

A clearly defined handover structure

Marking 22 years at the helm of Growthpoint, Sasse will continue to lead the company for the current financial year to 30 June 2026, when he will hand the reins over to de Klerk for the 2027 financial year. Sasse will remain with the business in an executive capacity for six months until 31 December 2026, to support a smooth and orderly transition. The position of SA CEO will be removed as part of a broader review of the executive leadership operating model.

Völkel and Snyders will work in parallel for three months, from 1 January 2026 to 31 March 2026, to ensure a seamless handover and continuity across the Group’s financial operations. Völkel will retain the responsibility as Group Financial Director for Growthpoint’s FY26 half-year financial reporting and officially hand over to Snyders from 1 April 2026.

Strong, skilled, stable leadership

These appointments reflect Growthpoint’s ongoing commitment to stable, long-term leadership ensuring the company is well positioned to continue delivering strategic and operational performance. This includes its stated objectives of improving its South African portfolio and optimising its international investments.

Chairman of Growthpoint, Rhidwaan Gasant, comments, “This is a natural and timeous transition to new leadership to take Growthpoint into its next chapter. We are pleased to announce Estienne de Klerk’s appointment as Group CEO, which represents strong continuity and deep corporate knowledge, while the appointment of José Snyders as Group CFO injects fresh perspective into the mix.

“The Board is pleased with the implementation of its leadership succession plan and is confident that these appointments will deliver value for shareholders,” concludes Gasant

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