Fairvest’s Southview Centre in Soshanguwe. The group is steadily transforming its diversified commercial property portfolio to one that focuses on rural and non-metropolitan retail properties that serve previously underserved markets and are close to commuter nodes and transport interchanges. .
Fairvest has uprated its distributable earnings guidance after delivering sector-beating financial metrics in the six months to March 31 on Wednesday as it continued to build out its retail property portfolio.
The interim distribution per A share increased to 71,82 cents from 69,66 cents at the same time a year ago, while the distribution per B share was up 12.3% to 25,94 cents, with the growth rate per B share significantly outpacing the Consumer Price Index. The 100% payout ratio was maintained.
Fairvest owns and manages 130 retail, office, and industrial properties, valued at R135 billion, and its focus is on rural and non-metropolitan retail properties that serve previously underserved markets and are close to commuter nodes and transport interchanges.
CEO Darren Wilder said their distributable earnings guidance for its B shares was expected to be between 53,4 cents and 54,4 cents for the 2026 year, an increase of between 11% and 13%. At the last financial year-end, the group had guided for an increase of between 9% and 11%.
