Growth Opportunities in SA and Abroad
Bulk reserve available on the balance sheet is ± 50,000m² of various land parcels held for future development. Property on Lynnwood Road in Pretoria is now under development, earmarked for a 12,000m² office block in conjunction with small-scale retail and restaurants.
Safari’s third centre in Atteridgeville Nkomo Village will open in November 2018 anchored by Pick ‘n Pay. We are delighted that the following retailers will open stores here: Foodlovers Market; The Gym Company; Builders Warehouse, Medizone; Black Lounge Knights; Jumbo; McDonalds; Chicken Licken and others.
Safari’s board is reviewing its strategy and wants to consider if exposure to investment property in offshore markets is opportune for the company.
Funds invested in particularly Central and Eastern European (CEE) economies have been performing very well in 2017. The CEE region has become an attractive environment for foreign investment with above average returns due to solid and consistent economic growth and strong development evident in these countries. Consumer confidence in CEE is supported by all-time low unemployment rates, low inflation and record manufacturing growth.
Selected offshore investment by Safari may limit exposure to country-specific risk in SA for our investors while gaining exposure to these attractive markets. The decision in principle is still under review.