Financials Integrated reports Sustainability report Presentations SENS Notices Circulars Share trading information Credit rating report PERFORMANCE HIGHLIGHTS
Revenue increased
7% to R1.5 billion (2023: R1.4 billion)
Net property income increased
2% to R920 million (2023: R901 million)
492 leases concluded across the portfolio
worth R1.4 billion (2023: R993 million)
Portfolio value increased
4% to R10.2 billion (2023: R9.8 billion)
NAV increased
5% to R6.4 billion (2023: R6.1 billion)
Gearing stable at
35.7% (2023: 35.7%)
INVESTOR CALENDAR
| Financial year end | 31 August |
| AGM | 18 February 2025 |
| Half-year pre-close presentation | 26 February 2025 |
| Interim results on SENS | 14 May 2025 |
| Interim results presentation | 15 May 2025 |
| Full-year pre-close presentation | 28 August 2025 |
| Year-end results on SENS | 12 November 2025 |
| Year-end results presentation | 13 November 2025 |
KEY MILESTONES
Dipula was founded in 2005 and in 2011 Dipula Property Fund merged with Mergence Africa Property Fund. Following the merger, the fund listed on the JSE with an initial portfolio of R2 billion. Since then, Dipula’s portfolio has grown to R9.8 billion. Dipula’s portfolio average value increased from R12 million at listing to R55 million by the end of the 2023 financial year-end. In June 2022, Dipula converted from a dual-share structure to a single-share structure to better align shareholder interests.
INVESTING IN THE GROUP
STRATEGIC PILLARS
A GROWING AND IMPROVING PORTFOLIO
Since its listing in 2011, Dipula’s portfolio has grown from 434 708m² to 885 612m² and the average size per asset increased from 2 484m2 to 5 209m2. Dipula tactically reduced its office property exposure from 40% to 15% in GLA terms, during the same period.
STRONG INVESTMENT CASE
- Remaining disciplined in our strategy execution
- Buying well
- Managing brilliantly
STRONG INVESTMENT CASE
OUR BUSINESS MODEL
Our business model is at the heart of everything we do. It defines the activities we engage in, the resources and relationships we depend on and the outputs and outcomes we aim to achieve to create value for all our stakeholders in the short, medium and long term.