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Canal Walk, Western Cape

About this report

1

Performance highlights

2

Group

overview

4

About Hyprop

6

Investment proposition

6

Strategic intent

7

Why REIT?

7

Business structure

8

Leadership

review

10

Leadership statement

12

Management structure

13

Chairman and CEO’s review

14

Financial director’s report

20

Five-year review

25

Cover: Canal Walk, Western Cape

We have used the following symbol indicating

reference to King IV in this report:

Forward-looking statement

This integrated annual report contains forward-looking statements that, unless otherwise indicated, reflect our expectations as at 30 June 2017.

Actual results may differ materially from the group’s expectations if known and unknown risks or uncertainties affect its business, or if estimates or

assumptions prove inaccurate. The group cannot guarantee that any forward-looking statement will materialise and, accordingly, readers are cautioned

not to place undue reliance on these statements. The group assumes no obligation to update or revise any forward-looking statement if new

information becomes available, other than as stipulated by the JSE Listings Requirements.

Value creation

review

27

Value creation

28

Business model

30

Risk and opportunity management

32

Value added statement

36

Stakeholder engagement

36

Portfolio

review

38

The markets in which we operate

41

Investment profile

42

Property portfolio – South Africa

43

Property portfolio – sub-Saharan Africa

(excluding SA)

49

Property portfolio – South-Eastern Europe

52

Hyprop’s history

54

Sustainability

review

56

Human capital

58

Social and relationship capital

62

Intellectual capital

63

Natural capital: environmental impact

64

Governance

review

68

Corporate governance

70

Board of directors

72

Remuneration

review

78

Remuneration report

80

Consolidated

financial statements

86

Approval of the consolidated financial

statements

88

Declaration of company secretary

88

Report of the audit committee

89

Directors’ report

90

Independent auditor’s report to the

shareholders of Hyprop Investments

Limited

92

Consolidated financial statements

95

Notes to the consolidated financial

statements

100

Segmental analysis

140

Shareholder

information

143

Shareholder analysis

144

Shareholders’ diary

IBC

Distribution details

IBC

Administration

IBC

Separate booklet

Notice of annual general meeting and proxy

What’s

inside