History
Founded in 2000 by private investors, Safari has created a platform for smaller investors to participate in quality retail property assets, which now forms part of the investment plan of its approximately 150 current shareholders.

The founding shareholders were critical to the success of the company, and brought an excellent combination of skills, including architects, engineers, property developers, accountants and medical doctors. In early 2013, Safari shareholders made a strategic decision to diversify its sources of funding and take advantage of the favourable legal and tax framework given to qualifying property entities in terms of REIT legislation.

Focus
Safari’s primary investment focus is on quality income-producing properties through investments and developments in retail centres held directly or indirectly. The company’s development arm covers greenfield developments of land into retail centres and brownfield developments through refurbishments, upgrades or other improvements to existing retail buildings. All properties in the Safari portfolio were developed by Safari Developments.

Safari has a strong focus on previously disadvantaged communities and under-resourced areas where it establishes, develops and promotes quality assets that uplift and benefit communities by providing a desirable and high-end shopping experience closer to where they live. This significantly reduces com- muting time and cost associated with travelling to regional centres. The approach also targets the problem of limited tradability of retail properties in these areas, resulting in significantly improved opportunities for communities where its properties are located. Safari’s portfolio provides stable income and balance-sheet strength, to secure and fund high-growth opportunities within its developments. To minimise financial risk, Safari follows a staggered development approach.

Assets
Safari’s property portfolio comprises four well-established and strategically located retail properties independently valued at approximately R1.3 billion, with a total gross lettable area (GLA) of some 125 000 m². The property portfolio is 100% retail based and focused on high quality retail centres in affluent townships across Gauteng, in Mamelodi, Atteridgeville and Sebokeng. Safari has spent some R40 million on revamps over the past two years. The fourth centre is located in Heidelberg and was recently added to the portfolio. Internationally, Safari is busy developing a new regional destination centre in Swakopmund, Namibia.

Denlyn Centre
Denlyn Centre in Mamelodi, also known as the Mamelodi Crossing Shopping Centre, has been trading for 10 years. During this time it became the preferred shopping centre for the community. The centre’s dominant market position is underpinned by its prime location at the entrance to Mamelodi and is adjacent to the Denneboom train station and commuters’ hub of Mamelodi. The centre has a GLA of some 42 200 m², which includes a recent 19 000 m² expansion. Safari recently added trading space for national tenants at the centre and greater focus was placed on the aesthetics and comfort facilities to ensure a longer dwelling time. The centre’s 102 shops are fully let and anchored by Shoprite. The national representation is at 91% and includes all the major banks, the Edcon Group, Foschini, Mr Price and the JD Group.