The Ohlthaver & List (O&L) Group has acquired the remaining 49.9% shares in Broll Namibia, previously held by the Broll Property Group (Pty).
The transaction, which makes O&L the sole shareholder of the property services company, is effective from 1 July 2024.
“As a company born in Namibia, we take immense pride in our ability to contribute positively to the nation’s growth and development, presenting new opportunities for innovation and expansion within the property market. This acquisition is a testament to our unwavering commitment to creating a sustainable future for our business, our people, and our country. Full ownership of Broll Namibia enables us to deliver enhanced value to our clients and stakeholders, further strengthening our position as a leader in the property management sector,” said O&L Group Executive Chairman, Sven Thieme.
Broll Namibia Managing Director Karen Keys said the acquisition allows the company to diversify its offerings and explore new avenues for growth.
“As Broll Namibia, we are excited to contribute to Vision 2029 by providing exceptional service and contributing positively to the local economy. This acquisition not only solidifies our position in the market but also empowers us to diversify our offerings and explore new avenues for growth and innovation, ensuring we continue to meet and exceed the expectations of our clients,” she said.
Broll Namibia specilizes in comprehensive property management services and its expertise spans across commercial, retail, and industrial properties.
As of last year, Broll Namibia was managing a property portfolio of N$2.6 billion, over 20 years after its formation.
The group’s portfolio included Alexander Forbes House/Carl List Mall, Wernhil Shopping Centre, Town Square Building, Old Breweries Complex, Ruhr Street, Independence 77 Retail Section, as well as Seagulls Mall in Walvis Bay and Pick n Pay Swakopmund.
The company’s external properties under management include the recently opened Hilltop Village in Windhoek, B1 City, and 51 on Lazarett.
