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Hyprop Investments Limited

Integrated annual report 2016

Rosebank Mall, Johannesburg, Gauteng

Key to value creation

Investment excellence:

grow a specialised

portfolio of high-quality, dominant

retail property investments by pursuing

appropriate yield-enhancing acquisitions

in emerging markets

Active asset management:


efficiencies, seek expansion and

redevelopment opportunities (for existing

shopping centres)

Effective capital and debt management:

fix interest rates and increase average

period of hedged debt book

Effective leasing management:

focus on

contractual rental escalations and improve

tenant mix

Employee development, key skills

retention, diversity and succession


enhance productivity

through training and proactive focus

on black economic empowerment and

employment equity


Low GDP growth

• Slowing consumer spend affects

trading densities and rent ratios

• Volatility of ZAR exchange rate

against USD and EUR

• Possibility of sovereign credit rating


• Rising cost of occupancy for tenants

due to increasing municipal services


* View full risk matrix on pages 32 to 39.


• Pursue appropriate yield enhancing,

quality acquisitions in emerging

markets; specifically in Eastern

Europe, which benefits from a

low interest rate environment

• Use tenant failures or lease expiries to

enhance the tenant mix in our malls

• International retailers looking to

expand locally

Material focus areas