Octodec Investments Ltd

What Octodec Investments Ltd does

Octodec Investments Limited is a Johannesburg Stock Exchange-listed Real Estate Investment Trust (REIT) that owns and operates a diversified portfolio of 234 properties valued at R11.2 billion across Tshwane (Pretoria) and Johannesburg, South Africa. The portfolio spans residential (~45-50% of rental income, including student accommodation such as The Fields in Hatfield and the Yethu City co-living concept), retail (~33%, including Killarney Mall, Woodmead Value Mart, The Park Shopping Centre, and Waverley Plaza), office (~18%, including Nzunza House and HealthConnect), and industrial (~7%, including Sildale Park and The Tannery). Tenants range from individual students, young professionals, and families to national retail chains, government entities, and small-to-medium enterprises, with notable anchors including Shoprite, Jet Stores, Dis-Chem, City Lodge, and Louis Pasteur Medical Centre.

Founded in 1956 by Alec Wapnick and listed on the JSE since 1990, the company pioneered office-to-residential conversions in the Tshwane CBD beginning in 1997 and obtained REIT status in 2013 before merging with Premium Properties Limited in 2014. Property management and leasing are fully outsourced to City Property Administration (Pty) Ltd, a related-party manager, under a long-standing agreement renewed effective 1 July 2023. Technology and operational investments include digital tenant engagement platforms (lease applications, feedback, processing), on-site cashless laundry facilities, yield-enhancing solar installations generating approximately R5.2 million in cost savings per period, and a smart-tech-enabled co-living concept (Yethu City) that reached full occupancy within 3.5 months of launch.

The business model is rental-income-driven with monthly subscription billing across the portfolio, supplemented by capital recycling through disposals of non-core properties — 17 properties were sold for R152.3 million in FY2025 and 10 for R89 million in HY2026. As a REIT, Octodec distributes taxable income to shareholders; the FY2025 total dividend was 134.5 cents per share (7.6% increase, 78.4% payout ratio). Investor access is provided via the primary JSE listing and a secondary A2X listing obtained in March 2023, with debt funding supported by an established R5.0 billion Domestic Medium-Term Note Programme. The company maintains B-BBEE Level 1 status, King IV governance compliance, and a reaffirmed GCR A- credit rating with stable outlook.

Name

Octodec Investments Ltd

Legal name

Octodec Investments Limited

Website

https://octodec.co.za

Company type

Public

Founded year

1956

Operating status

Operating

Headcount range

101–250 employees

Short description

Octodec Investments Limited is a JSE-listed REIT operating a R11.2 billion portfolio of 234 diversified residential, retail, office, and industrial properties concentrated in Tshwane and Johannesburg, South Africa, serving students, families, retail tenants, government entities, and SMEs.

Ownership category

akta.pro rank

Product category

Diversified Real Estate Investment Trust (REIT)

NAICS

Other Financial Investment Activities (5239)

SIC

Real Estate Investment Trusts (6798), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Real estate investment
• Diversified REIT
• Commercial property leasing
• Residential property rental
• Property asset management

Headquarters

HQ city

Pretoria

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Rental Income - Residential: Rental income from residential portfolio comprising apartments and student accommodation. The residential sector is the largest contributor with approximately 45-50% of rental income. Performance driven by sustained demand for well-located, affordable accommodation.
2. Rental Income - Retail: Rental income from shopping centres and retail street shops representing approximately one-third of rental income. Shopping centres achieved 93.4% occupancy with core vacancies of 6.9%.
3. Rental Income - Office: Rental income from office portfolio representing approximately 18% of rental income. Portfolio includes affordable hybrid office/commercial spaces for small businesses.
4. Rental Income - Industrial: Rental income from industrial portfolio representing approximately 7% of rental income. Includes mini-factory complexes and industrial parks for medium-sized and smaller industries.
5. Property Disposal Proceeds: Capital recycling through disposal of non-core properties. During FY2025, 17 properties sold for R152.3 million at weighted average exit yield of 9.5%. HY2026 saw 10 properties disposed for R89 million at 7.6% exit yield.
6. Distributions to Shareholders: As a REIT, Octodec distributes taxable income to shareholders. FY2025 total dividend was 134.5 cents per share (7.6% increase), at a payout ratio of 78.4%.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Octodec Investments Ltd is a JSE-listed diversified Real Estate Investment Trust (REIT) that owns and leases a portfolio of 234 properties (1,524,479m²) spanning residential, retail, office, and industrial asset classes in South Africa, primarily in Tshwane (Pretoria) and Johannesburg. The company generates rental income through long-term leases and manages the portfolio in-house via City Property Administration.

Product overview

Octodec Investments Ltd is a JSE-listed Real Estate Investment Trust (REIT) offering a diversified portfolio of residential, retail, office, and industrial properties. The company's property portfolio comprises approximately 234 properties with gross lettable area of 1,524,479m² valued at R11.2 billion. Core offerings include residential apartments and student accommodation (The Fields, Sharon's Place, Kempton Place, Jeff's Place), retail shopping centres (Killarney Mall, Woodmead Value Mart, The Park Shopping Centre, Waverley Plaza), commercial office spaces (Nzunza House, HealthConnect), and industrial properties (Sildale Park, The Tannery, John Street Industrial). The company also operates specialised facilities including the Louis Pasteur Medical Centre and the innovative Yethu City co-living concept. Properties are managed through City Property Administration with geographic concentration in Tshwane (Pretoria) and Johannesburg areas.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential property leasing
• Retail property leasing

Quantifiable outcome

• Revenue growth of 4.6% to R2.2 billion in FY2025
• +7 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Dis-Chem FoundationcoreStrategic or Co-development Partner · 13 February 2024Octodec and Dis-Chem strengthened their partnership with the launch of a Tshwane community clinic to provide accessible healthcare. The Dis-Chem Community Clinic offers healthcare services to the surrounding community, demonstrating Octodec's commitment to community wellness beyond traditional property services.
• CotlandscoreStrategic or Co-development Partner · 6 February 2024Octodec and Cotlands launched the Kamane Educare Centre, a transformative Early Childhood Development (ECD) facility in Tshwane. The centre addresses the pressing need for accessible, high-quality ECD services and provides a Cotlands early learning playgroup programme with annual lesson plans tailored to nurture children's cognitive, social, emotional, and physical development.
• Rise Against HungerminorOthers · 28 May 2023Octodec partnered with Rise Against Hunger to deliver meals to South African children. The company packed over 129,000 meals that will feed 500 children with five meals a week for an entire year, demonstrating commitment to community social investment.
• Property PointminorStrategic or Co-development Partner · 20 October 2022Octodec and Property Point joined hands to empower emerging black businesses. Property Point supports enterprise development by providing business acceleration services to qualifying businesses in Octodec's supply chain.
• RaizcorpminorStrategic or Co-development Partner · 6 February 2020Octodec partnered with Raizcorp for its enterprise and supplier development programme. Raizcorp provides comprehensive business support including mentorship, coaching, marketing exposure, and supply chain integration for emerging black-owned businesses in the property valuation sector.
• Nivea and FutureLifeminorStrategic or Co-development Partner · 1 January 2020Together with Nivea, Octodec joined a programme established by the Dis-Chem Foundation and FutureLife to provide 2.4 million meals to preschool children in need across South Africa over the course of a year, supporting Octodec's commitment to building dignity and creating shared value.
• City Property Administration (Pty) LtdcoreChannel Partner/ Reseller/ DistributorOctodec has contracted City Property Administration to support its tenant-centric approach. City Property carries out all responsibilities relating to property management in accordance with the management agreement, including leasing, billing, collections, utility management, property accounting, expense management, asset management, and specialist services. The agreement was renewed effective 1 July 2023.
• Blaauw Village Joint VenturecoreStrategic or Co-development PartnerOctodec's 50% joint venture in Blaauw Village, a neighbourhood shopping centre in Pretoria North, performed exceptionally well with an 81.8% increase in income, mainly due to rental income growth and cost efficiencies.

Scale indicators16 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Redefine Properties: Large JSE-listed REIT with diversified retail, office and industrial exposure across South Africa; comparable by listing, asset class breadth and distribution-driven model.
• SA Corporate Real Estate Fund: JSE-listed REIT holding a diversified portfolio of commercial, industrial and residential properties across South Africa; directly comparable by listed REIT structure and sector mix.
• Resilient REIT: JSE-listed REIT focused on regional retail centres across South Africa and neighbouring countries; comparable by listed REIT structure and tenant-facing commercial property model.
• Hyprop Investments: JSE-listed REIT specialising in dominant shopping centres in South Africa and emerging markets; comparable by listed REIT structure and retail-property focus, though more retail-skewed than Octodec.
• Heriot REIT: JSE-listed REIT focused on residential, retail and industrial property in the South African long-term rental sector; comparable by listing, geography, tenant base and rental income model.
• Trematon Capital Investments: JSE-listed investment company with significant exposure to retail, residential and office property in South Africa; comparable by listing and mixed-sector property strategy.
• Accelerate Property Fund: JSE-listed REIT focused on retail, office and industrial property in South Africa; comparable by listed REIT structure, sector mix and tenant-base profile.
• Fortress Real Estate Investments: JSE-listed REIT with a logistics, retail, residential and office portfolio across South Africa; directly comparable by asset class mix, JSE listing and tenant-facing distribution model.

Others

• City Property Administration: Outsourced property management and leasing partner for Octodec and other Gauteng landlords; comparable as the operational ecosystem that delivers Octodec's tenant services, though operating for own account rather than as a listed peer.

Broad incumbents

• Growthpoint Properties: Largest South African REIT by assets, with a diversified portfolio spanning office, retail, industrial and development property across the continent; a broader incumbent operating at much greater scale in the same listed-REIT space.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/octodecinvest
• LinkedInlinkedin.com/company/octodec-investments-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Octodec Investments Ltd