Hyprop is on track to deliver full-year growth in distributable income per share within its previously provided range of 10%-12%, it said on Thursday.The group, in an update for the five months to end-May, said with a steadily improving operational performance and a robust financial position, it is well-positioned to capitalise on market opportunities.The group owns portfolios in South Africa and Eastern Europe. Its South African portfolio, which consists of four retail centres in the Western Cape and five in Gauteng, reported a 5.5% rise in tenant turnover, while trading density grew by 4.4%. Foot count increased by 2.1%, and the retail vacancy rate remained low at 3.3%, outpacing industry averages for regional and super-regional centres, it said.(Dorothy Kgosi) Cash collections from tenants rose to R1.7bn from R1.6bn a year ago. In the Western Cape, the group owns Canal Walk, Somerset Mall, Cape Gate and Table Bay Mall. Its Gauteng portfolio includes Hyde Park Corner, Rosebank Mall, Clearwater Mall, Woodlands and The Glen.In Eastern Europe (EE), it owns four retail centres in the capital cities of Bulgaria, North Macedonia and Croatia. In May, the group announced the acquisition of Galleria Burgas, a prime shopping centre located on the east coast of Bulgaria. The transaction aligns with Hyprop’s strategy to increase exposure in Eastern Europe, a region it has identified as offering superior risk-adjusted returns.The transaction is subject to approval by the Bulgarian Commission for Protection of Competition, which is progressing, and remains on track for the expected implementation date of the end of July, it said.“Our EE retail centres continue to cement their status in the region,” the group said.During the period, tenant turnover increased by 4.4%, while trading density rose by 4.2% and foot count increased by 5%. Demand for space remains exceptionally high, with a 0% vacancy rate in May. Cash collections from tenants for the period increased to €48m from €46m a year ago.The group has made significant progress with its solar-PV rollout, with The Glen’s phase 2 installation completed in June and Cape Gate’s project on track for completion in August. At Hyde Park Corner, its solar-PV and battery energy storage system (Bess) installation will be completed in July, supporting uninterrupted operations and cost efficiency.The Canal Walk solar-PV project and Somerset Mall’s integrated solar-PV and Bess installations have secured approvals, with tenders progressing as planned.“Integrating Bess with solar-PV is a critical step in derisking centres’ operations, reducing grid dependency, managing energy costs and ensuring business continuity for tenants. These investments directly support Hyprop’s ESG objectives, help protect rental income during grid outages, and position our assets for long-term growth,” the group said.At the end of May, Hyprop held R1.7bn in cash and had R2bn in available bank facilities. Hyprop will release its annual results on September 9.Business Day