Oryx Properties Moves to Acquire Platz am Meer Shopping Centre for N$290 Million. Oryx Properties has announced plans to purchase the Platz am Meer Shopping Centre in Swakopmund for N$290 million, marking a significant expansion in its retail portfolio.
The deal, which includes undeveloped land adjacent to the mall, is still subject to approval by the Namibia Competition Commission. If finalized, this acquisition will further strengthen Oryx Properties’ presence in Namibia’s commercial real estate sector.
According to the Namibia Securities Exchange (NSX)-listed property investment company, the acquisition is projected to generate an 11% return, translating to approximately N$31.9 million in net operating income.
The current owner, Safari Investments, has agreed to guarantee this return for the first 12 months as part of a transition period that will include combined management efforts.
Platz am Meer Shopping Centre is a key retail hub in Swakopmund, featuring a range of local and international brands. The inclusion of adjacent land in the deal suggests potential for future expansion or additional developments in the area.