The Government Institutions Pension Fund (GIPF) has committed N$800 million as the anchor investor in a new unlisted property fund launched with Oryx Properties.
The commitment marks one of Namibia’s largest institutional investments in the country’s commercial property sector.
The Oryx Unlisted Property Fund is a closed-ended investment vehicle established to invest in Namibia’s unlisted real estate market under a Core Plus Commercial Property mandate.
According to the companies, the fund will target core and core-plus property opportunities aimed at generating long-term income, capital growth and sustainable domestic investment while supporting the development of Namibia’s real estate sector.
“The Unlisted Fund offers institutional investors an opportunity to participate in one of Namibia’s most anticipated property funds, while contributing to the country’s growth story and the development of high-quality real estate assets,” said Ben Jooste, Chief Executive Officer of Oryx Properties Limited and Oryx Unlisted Fund Managers.
The fund will be managed by Oryx Unlisted Fund Managers, which will leverage Oryx Properties’ experience across the retail, office, industrial and mixed-use property sectors.
It has a 10-year lifespan, including a five-year investment period, and will invest exclusively in Namibia.
The fund will invest across the retail, commercial, residential, mixed-use, development and alternative real estate sectors, focusing on assets that generate stable income, offer long-term growth potential and contribute to Namibia’s evolving built environment.
Under the ownership structure, GIPF will hold 99% of the special purpose vehicle (SPV), while Oryx Properties will retain the remaining 1%, providing the fund with strong institutional backing as it seeks to attract additional investors.
Oryx said the launch represents a significant step forward for institutional investment in Namibia’s unlisted property market and is expected to support the long-term expansion of the country’s commercial real estate sector.
Oryx Properties is a leading property fund listed on the Namibia Securities Exchange (NSX), with a diversified portfolio of 28 retail, industrial, office and residential properties.
