31/08/2026
Spear REIT enters H2 FY2026 with momentum and reaffirms 6%ā8% DIPS growth
Spear REIT has reaffirmed its FY2027 DIPS growth guidance of 6%ā8%, alongside its 95% payout ratio, following a strong first half of the financial year.
The Groupās performance reflects continued operational resilience and disciplined capital allocation, with:
* 28.29% growth in revenue year-to-date
* 29.41% growth in net operating income
* 96.37% portfolio occupancy
* 6.78% positive rental reversions
* 6.92% weighted average lease escalations
* R8.4 billion portfolio value following subsequent acquisitions
* Approximately 670,000mĀ² of gross lettable area
Growth has been supported by the acquisition of Watergate Centre and 1 Sportica Crescent, adding 48,169mĀ² to the portfolio at an average acquisition yield of 8.99%.
Spear has also continued to deploy capital into its development pipeline, including R140 million invested in new industrial developments, while securing a commercial land parcel in Century City for a proposed office precinct with estimated development costs of approximately R950 million.
Following a R1 billion accelerated bookbuild and R108 million dividend reinvestment programme, Spear enters H2 with approximately R800 million in available liquidity, providing capacity to pursue further earnings-accretive opportunities.
With a focused Western Cape strategy, strong operating fundamentals and a growing pipeline of acquisitions and developments, Spear remains positioned for continued sustainable growth.
Read the pre-close presentation on our website.
