Growthpoint Properties (GRT) CMD 2025 Presentation summary

Business and development highlights

• Achieved 25 million annual visits, supporting 83,000 total jobs and contributing R45.9bn to GDP since 2002, with 60% of small businesses owned by women.

• Revenue grew 16.1% year-on-year, with net property income up 10.4% and like-for-like NPI up 12.7% from FY24.

• Negligible vacancy rates at 0.3%, and fair value property gain of R1.2bn.

• Development pipeline funded by third-party debt, with total debt at R5.25bn and undrawn facilities of R1.5bn.

Retail, office, and hospitality performance

• Retail vacancies remain low at 0.3%, with a 98% renewal success rate and above-inflation escalations.

• Retail sales exceeded R10bn in 2024, up 7.1% year-on-year, with trading density double that of competitors.

• Office demand is strong, with a 93% renewal success rate and average gross rental CAGR of 6.4% since 2015.

• Hotels and leisure saw 19% YoY RevPar growth and 18% ADR growth, with occupancy at 66%.

Major developments and future plans

• Table Bay Hotel is being redeveloped and rebranded as InterContinental, reopening in phases from December 2025.

• Lux Mall luxury node to open December 2025; Quay 7 luxury hotel and 5 Dock Road residential projects progressing.

• Granger Bay master plan aims to add 15,000 on-site jobs, 49,400 total jobs, and housing for 6,000 people, with phased development through 2040.