Integrated annual report and consolidated financial statements
for the year ended 30 June 2018

Hyprop is a leading specialist shopping centre Real Estate Investment Trust (REIT) listed on the JSE, with a market capitalisation at 30 June 2018 of R26,2 billion.

Performance highlights

Distributable earnings
up 10,5%


Total annual dividend per share
up 8,8%

acquisitions concluded in
EU countries (via Hystead)
capital projects completed
in SA

We operate a portfolio of leading shopping centres in major metropolitan areas across South Africa, sub-Saharan Africa and South-Eastern Europe. The portfolio in South Africa includes super-regional centre Canal Walk, large regional centres Clearwater, The Glen, Woodlands Boulevard, CapeGate, Somerset and Rosebank malls, regional centre Hyde Park Corner and value centre Atterbury Value Mart.

Leadership review

Left: Gavin Tipper, Chairman
Right: Pieter Prinsloo, Chief executive officer

The financial year under review was difficult for South African property companies with the property index down by 16,1% over the period. While this was partly attributable to much publicised concerns relating to particular companies in the sector, it was also a function of a difficult economic environment.

Leadership review
Group overview


Hyprop's focus remains on investing in high-quality shopping centres, particularly centres that dominate their markets in primary cities.

Each shopping centre is distinguished by:

  • Quality, size, dominance and location, catering for middle to higher-income consumers
  • Mix of flagship national and international retail tenants
  • Being the preferred shopping destination in high-density, metropolitan areas.

The three key business drivers are:

  • Investing in South Africa and in Central and South-Eastern Europe
  • Dominant, quality shopping centres in major metropolitan areas
  • Asset management opportunities in our portfolio of 21 shopping centres across nine countries.

We aim to continuously optimise the quality of our existing portfolio through redevelopments and extensions. Redevelopments include extensive refurbishments to modernise shopping centres to meet evolving shopper and retailer needs. Extensions include tenant-driven enlargements of existing stores or the entry of new stores.

We target organic growth by enhancing the tenant mix and redeveloping existing shopping centres. We support this with a focus on appropriate rental levels and escalations, and control of tenant arrears and property expenses. Hyprop proactively identifies new retail and lifestyle trends to direct our growth potential and ensure that we retain and grow our loyal customer base across the portfolio.


Property portfolio

Property portfolio - SOUTH AFRICA     Property portfolio - SUB-SAHARAN AFRICA     Property portfolio - SOUTH-EASTERN EUROPE
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