May 26, 2018 Last Updated 11:11 AM, May 23, 2018

Safari Investments almost doubles earnings

Township shopping mall investment company, Safari, has managed to weather recent strains on consumer spending.

The group grew its earnings nearly 50% in the six months to September, the company reported in its financial results on Wednesday.

CEO Francois Marais said Safari was looking to more than double its portfolio to R3bn within four years and said he was excited by the retail node it was developing on Maunde Street, Atteridgeville, in the City of Tshwane. The node was intended to strengthen its Attlyn Shopping Centre.

The group is also making additions to its Thabong Shopping Centre in Sebokeng.

Marais said Safari would continue to invest in quality income-generating property in areas where many property funds may have missed opportunities.

"We believe township properties still offer a lot to investors and want to make shopping experiences there as good as those in non-township," he said.

This Month's Issue

abn v5iCover finalweb