JUST IN: Oryx Properties purchases Dunes Mall for N$648 million
Oryx Properties today announced the acquisition of the Dunes Mall in Walvis Bay, its CEO Ben Jooste said.
“We are extremely delighted about this transaction as Dunes Mall is a premier retail asset located in Walvis Bay. The total gross lettable area amounts to 32 438 m² with anchor tenants including Checkers, Pick ‘n Pay, Game and Woolworths. The acquisition fits well within Oryx Properties Limited’s strategy, with a focus on geographically diversifying the portfolio and de-risking the Group’s over-dependence on Maerua Mall.”
The transaction and final purchase price are subject to certain conditions being met as agreed with the sellers, regulatory approval from the Namibian Competition Commission and the successful completion of a partial equity raise by Oryx with the remainder being funded through debt.
“We are extremely delighted about this transaction as Dunes Mall is a premier retail asset located in Walvis Bay. The total gross lettable area amounts to 32 438 m² with anchor tenants including Checkers, Pick ‘n Pay, Game and Woolworths. The acquisition fits well within Oryx Properties Limited’s strategy, with a focus on geographically diversifying the portfolio and de-risking the Group’s over-dependence on Maerua Mall.”
The transaction and final purchase price are subject to certain conditions being met as agreed with the sellers, regulatory approval from the Namibian Competition Commission and the successful completion of a partial equity raise by Oryx with the remainder being funded through debt.
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