Dipula Properties delivers robust annual results and is in the market for new opportunities

DIPULA Properties delivered a strong 5% increase in distributable earnings for the year to end-August and might even beat its guidance for the next financial year of 7% growth, CEO Iszak Petersen said on Wednesday.

- EDWARD WEST

DIPULA Properties CEO Izak Petersen.

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Full-year distributable earnings per share came to 57.26 cents. Petersen noted that although there was not much acquisition activity in the diversified retail, industrial, and residential REIT this past year - Dipula focuses on township and rural areas for its retail properties in particular - “there is a bit of a pipeline of potential acquisitions; we are excited about it,” he said in a briefing.

He stated that the results reflected prudent capital allocation, “rigorous asset management, financial and operational discipline, and the reignition of acquisitive growth.”

Dipula had finalised five acquisition agreements in August 2025, totaling about R700 million. The largest of these was the R480m purchase of Protea Gardens Mall in Soweto, a 24,000 square metre community shopping centre.

Petersen said Protea Gardens was likely to be their biggest retail asset -