Exemplar REITail has taken transfer of the 16 592m² community centre Eerste Rivier Mall in the Western Cape – the first asset in its portfolio not developed by McCormick Property Development or the REIT.

The latest R282 million acquisition sees the expansion of its footprint to six provinces and 27 retail centres with a further eight under the Group’s management.

Exemplar will prioritise curating the centre’s tenant mix to suit the community’s specific needs while implementing social upliftment and development initiatives, as with all its other assets.

Exemplar posted its interim results for the six months ended August 2024, reporting a 9.79% increase in its revenue to R638.471 million (August 2023: R581.523 million).

The Group also reported increases in both its headline earnings per share and earnings per share of 28.48% to 62.47 cents and 3.03% to 111.9 cents, respectively.

With a 6.43% increase in its net asset value (NAV) per share to R15.26 (August 2023: R14.34), Exemplar’s Board resolved to declare an interim dividend of 70.25 cents per share for the reporting period, a 9.30% increase compared to 64.27 cents per share in August 2023.