NOVEMBER 2023
CEO – REPORT: DRIVING FORWARD WITH STRATEGIC GROWTH AND EXCITING DEVELOPMENTS
Welcome to our latest CEO report, where we outline key business strategies and exciting developments at our company.
1. BUSINESS STRATEGY UPDATE
- Impressive Letting Growth: Our recent Brokers’ Brunch at 26 Wellington was a hit, resulting in substantial letting enquiries. We’ve managed new deals totaling 4,932 sqm and renewed 8,829 sqm of leases.
- Asset Growth Goal: Our strategy is set to reach a gross asset value of R900 million by June 2024, fueled by organic growth and significant R50 million acquisition.
- Completed and Upcoming Projects: We’ve successfully completed projects with major brands like PEP Home, Jet Store, and Standard Bank, and look forward to upcoming expansions and developments in 2024, including Mr Prise and SA Queen.
2. PROPERTY ACQUISITIONS
- We’re on the hunt for a R50 million acquisition to meet our asset goals, and are actively managing new property developments and tenant integrations.
3. CORPORATE DEVELOPMENT
- While no mergers or acquisitions have been finalized, we’re actively exploring opportunities.
4. FINANCIAL HIGHLIGHTS
- Our audited financial statements for the year ending June, 2024, will be including in the upcoming board pack.
5. KEY PROJECT UPDATES
- We’re excited about developments at Wendywood, 296 Kent, Northcliff, and the Promenade Shopping Centre, with various upgrades and negotiations underway.
6. INVESTMENT AND GROWTH IN RETAIL AND INDUSTRIAL PROPERTIES
- We continue to invest in an expand our retail and industrial portfolio, with several properties showing great promise and undergoing improvements.
7. CORPORATE GOVERNANCE AND SYSTEMS
- We’ve achieved control over billing and collections, with new software enhancing productivity and financial reporting.
8. COMMITMENT TO COMMUNICATION AND HUMAN CAPITAL
- Our focus on regular communication, staff development, and maintaining strong relationships with tenants and stakeholders remains a top priority.
Stay tuned for more updates as we continue to grow and innovate in the real estate industry. Orion wants to thank each and every person who has contributed to making 2023 a fruitful and educational year, and we look forwar to 2024 and all the exciting ventures that lay ahead.
