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Octodec is one of the largest property owners in the Tshwane and Johannesburg areas. We are proud of our diversified portfolio which comprises residential, retail, office, and industrial properties. Octodec owns 238 properties, including the share in a joint venture, with a gross lettable area of 1 528 961m² valued at R11.0 billion.
We maintain a well-balanced portfolio of quality residential and commercial buildings. Our mixed-use spaces create convenient community areas for our tenants, and our geographic concentration generates economies of scale and efficiencies for Octodec.
We are committed to delivering long-term stakeholder value through an innovative and visionary perspective on property investment.
Octodec has contracted City Property Administration (City Property), a private company with expertise in the management of inner-city properties, to support our tenant-centric approach. City Property carries out all responsibilities relating to the management of Octodec’s properties in accordance with the management agreement between City Property and Octodec.
Octodec has a rich history of urban regeneration and renewal, revitalising Gauteng’s inner cities through property redevelopment and community involvement.
Founded by Alec Wapnick on 8 November 1956, Octodec derived its name from Octodecim, the Latin word for 18, representing its original 18 shareholders, including the Wapnick family, who remain core shareholders to this day.
Notably, we were the pioneers in converting unused office spaces into residential units in the Tshwane central business district, addressing the demand for quality and affordable accommodation. As early as 1998, we completed our first conversion project, marking the beginning of a longstanding commitment to providing exceptional residential solutions in the heart of the city.
Today, Octodec’s property portfolio offers both scale and concentration, enabling us to leverage management efficiencies and actively drive value creation.
Octodec’s speciality is investing in mixed-use space.
Our focus is on unlocking value in urban spaces for the diverse and granular inner-city community. We especially want to create a thriving inner-city environment that serves the everyday person. We want to cultivate and serve a flourishing ecosystem of residents, small shop owners, professionals, government employees, students and entrepreneurs.
That’s why Octodec is invested in strategic nodes in the CBDs of Tshwane, the administrative capital of South Africa, and Johannesburg, the economic hub of South Africa and surrounding urban areas.
Our strategic objectives direct us to create sustainable value for our shareholders and tenants and to optimise our portfolio to ensure ongoing excellence in property management.
Octodec’s financial resources include cash generated from rental income and the resources we obtain from equity, debt funding and the proceeds from the recycling of properties.
Our property portfolio of well-located and attractive residential, commercial, and mixed-use spaces generates the rental income which creates value to our shareholders.
We aim to develop future-fit skills in an environment of accountability, collaboration, ethics, and growth.
Intellectual capital flows from our shared expertise with our strategic partner, City Property. Our collaboration enables us to adapt to a changing business environment and achieve cost efficiencies.
We make a positive impact in the areas in which we operate through our strong links with local communities.
We are committed to being environmentally responsible. We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.
Octodec’s financial resources include cash generated from rental income and the resources we obtain from equity, debt funding and the proceeds from the recycling of properties.
Our property portfolio of well-located and attractive residential, commercial, and mixed-use spaces generates the rental income which creates value to our shareholders.
We aim to develop future-fit skills in an environment of accountability, collaboration, ethics, and growth.
We make a positive impact in the areas in which we operate through our strong links with local communities.
We are committed to being environmentally responsible. We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.
City Property provides the specialist property portfolio management, leasing, administration, and marketing skills necessary to deliver excellent customer service to our tenants on Octodec’s behalf.
City Property is mandated to secure an appropriate mix of tenants for the various sectors of our diverse portfolio, at rentals that allow us to create stakeholder value, using an innovative approach to ensure optimal management of Octodec’s properties.
The management agreement between City Property and Octodec was renewed and came into effect on 1 July 2023.
The services that City Property has undertaken to provide for and on behalf of Octodec are summarised here:
City Property is responsible for all services that are typical of traditional property management. These include leasing, billing, collections, utility management, property accounting and expense management.
As part of the “all-in” service rendered by City Property, it sources and advises on investment opportunities, sales and acquisitions (including ancillary processes such as feasibilities and due diligence investigations), and financial management. It monitors the regulatory environment and advises on income enhancing opportunities.
Certain specialist skills have been developed to manage the unique challenges prevalent in the Octodec portfolio. These include tenant installation services, repairs and maintenance, risk, legal, HR, IT, compliance and account management, as well as credit control.
City Property is responsible for managing the stakeholder relationships and addressing stakeholders’ needs, interests, expectations, and concerns.
The Octodec Board of Directors features leaders in the property and finance industry, capable of providing the expertise and insight to drive the brand forward.
We uphold the highest standards of corporate governance and ethical leadership, instilling trust and confidence within our diverse stakeholders, including tenants, employees, suppliers, regulators, investors and, society at large. A strong ethical culture serves as a foundation for our core purpose, values, and strategy.
The board, assisted by the Social, Ethics, Remuneration and Transformation Committee, conducts an annual review of the group’s code of ethics, which outlines the key behaviours and actions expected by directors, employees, suppliers, and business partners.
All employees are required to attest to the code of ethics on appointment.
A group-wide ethics communications campaign continues, with different illustrations of ethical behaviour frequently communicated to employees.
The governance framework and policies contribute to sustainable value creation by driving:
• Stakeholder accountability
• Sound leadership
• Effective decision-making
• Risk management and risk mitigation
• Comprehensive integrated reporting
| Date | Document | ||
|---|---|---|---|
| 2023-12-07 | King IVTM assessment [PDF] | ViewDownload | |
| 2021-08-15 | Memorandum of Incorporation [PDF] | ViewDownload | |
| 2021-08-15 | Octodec Board Charter [PDF] | ViewDownload | |
| 2021-08-15 | Octodec Risk Committee Terms of Reference [PDF] | ViewDownload | |
| 2021-08-15 | Octodec SERT Committee Terms of Reference [PDF] | ViewDownload | |
| 2021-08-15 | Octodec Audit Committee Terms of Reference [PDF] | ViewDownload | |
| 2021-08-15 | Octodec Nominations Committee Terms of Reference [PDF] | ViewDownload | |
| 2021-08-15 | Directors' Renumeration Policy [PDF] | ViewDownload | |
| 2021-08-15 | Total Reward Philosophy Strategy and Policy [PDF] | ViewDownload |
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Qualifications: MCom (cum laude), CA(SA)
Designation: Independent non-executive director
Date of appointment: 6 February 2012
Board committee memberships: Audit, Ad hoc independent subcommittee and Risk Committees
Significant other public company directorships: Old Mutual Nigeria Life Assurance Company Ltd, Old Mutual General Insurance Company Nigeria Ltd, and The Smart Life Insurance Company Ltd
Pieter has 50 years’ experience in external auditing, special investigations, and all disciplines of risk management.
Qualifications: CA(SA)
Designation: Independent non-executive director
Date of appointment: 1 March 2020
Board committee memberships: Audit, Ad hoc independent subcommittee, and Risk Committees
Significant other public company directorships: Premium Properties Ltd
Louis has sector knowledge and experience in construction, real estate, and various other sectors. He is the independent chairman of two joint venture audit and risk committees of African Rainbow Minerals Ltd. Louis was a senior assurance partner at Ernst & Young.
Qualifications: CA(SA)
Designation: Independent non-executive director
Date of appointment: 1 October 2021
Board committee memberships: Audit, Ad hoc independent subcommittee and Risk Committees
Significant other public company directorships: Sasfin Holdings Ltd
Richard has 27 years’ experience in the financial services industry, mostly banking, as well as senior executive roles in audit, commercial banking, and risk management. In addition, he has served as a non-executive director on the boards of several banks in Southern Africa, including in roles as a member chairman of various board committees.
Qualifications: CA(SA)
Designation: Finance director
Date of appointment: 1 September 2021
Significant other public company directorships: Premium Properties Ltd
Anabel has been employed by City Property, Octodec’s asset and property manager since January 2016. During this time, she was responsible for the financial affairs of Octodec, playing an integral part in financial reporting. Prior to joining City Property, Anabel was a senior assurance partner at Grant Thornton for 23 years. For seven years she was the engagement audit partner of Premium Properties, which subsequently merged with Octodec in 2013.
Qualifications: BA LLB (cum laude)
Designation: Non-executive Chairman
Date of original appointment as Chairman: 1 October 2011
Date of appointment: 4 October 1994
Board committee memberships: Nominations, Risk and Social, Ethics, Remuneration and Transformation Committees
Significant other public company directorships: Transaction Capital Ltd
Sharon has considerable experience in the property sector as well as in legal-related property, commercial and corporate matters. Sharon is an attorney and a senior partner of Tugendhaft Wapnick Banchetti and Partners. She is a non-executive director of City Property.
Qualifications: B.Iur. LLB
Designation: Group company secretary
Date of appointment: 1 June 2013
Board committee memberships: N/A
Significant other public company directorships: N/A
Elize was appointed group company secretary effective from 1 July 2018, replacing City Property as the appointed company secretary. Before joining Octodec, she represented City Property as the appointed company secretary to Octodec and the City Property portfolio of companies from 1 June 2013. She is a full-time employee of Octodec and is neither involved in an executive capacity nor serves on the boards of the various subsidiary companies within the group. She has more than 20 years of accumulated experience as a company secretary and corporate lawyer and has been company secretary for several listed and unlisted companies in both the private and public sectors in South Africa. Experienced in dealing with board meetings and translating governance theory into appropriate frameworks and processes, Elize serves as the independent gatekeeper of good corporate governance for the group.
Qualifications: BA (Hons) (Education), MAP, Dip HR, MBA
Designation: Independent non-executive director
Date of appointment: 1 March 2020
Board committee memberships: Nominations and Social, Ethics, Remuneration and Transformation Committees
Significant other public company directorships: The Rand Mutual Assurance Company Ltd, RMA Life Assurance Company Ltd, and GlaxoSmithKline South Africa Ltd
Maggie has extensive experience in senior executive roles with local and global companies IBM SA, Avon Justine, Nedbank, and Coca-Cola. She is also the founder and executive director of The HR Touch (Pty) Ltd, an HR consulting and business management company. Her business management, corporate governance and leadership experience cover a variety of companies and industries, including roles as a member and chairman of various boards and board committees. Maggie is the chairperson of Edge Growth Business Development (Pty) Ltd. She also chairs the remuneration committee of Rand Mutual Assurance Company Ltd.
Qualifications: MBA, Post-Graduate Diploma (Marketing Management), BSocSci, AMP (INSEAD)
Designation: Independent non-executive director
Date of appointment: 11 February 2019
Board committee memberships: Risk Committee
Significant other public company directorships: Lombard Insurance Company Ltd
Nyimpini is the chairman of Schindler Lifts (SA) (Pty) Ltd and a director of several listed and private companies. He is the former CEO of General Electric Southern Africa (Pty) Ltd. He is an accomplished CEO and Managing Director with over 25 years proven success across FMCG, telecoms and financial services in Africa and the United Kingdom. Nyimpini is an author of the best-selling business book Take Charge.
Qualifications: AEP (Unisa)
Designation: Lead independent director (LID)
Date of appointment: 1 October 2009
Board committee memberships: Audit, Ad hoc independent subcommittee, Nominations, Risk and Social, Ethics, Remuneration and Transformation Committees
Significant other public company directorships: The Smart Life Insurance Company Ltd
Derek is a retired banker and professional director with extensive experience as a director in banking, insurance, and finance, and provides consulting services with a specific focus on mergers, acquisitions, and corporate finance-related matters.
Qualifications: CA(SA)
Designation: Non-executive director
Myron is not considered to be independent as stipulated by the recommendations of King IVTM due to his shareholding in Octodec.
Date of appointment: 4 October 1994
Board committee memberships: Risk and Social, Ethics, Remuneration and Transformation Committees
Significant other public company directorships: None
Myron practised as a chartered accountant for more than 30 years and successfully managed a privately owned, diversified property portfolio.
Qualifications: BCom
Designation: Managing director
Date of appointment: 2 October 1998
Board committee memberships: Risk Committee
Significant other public company directorships: Premium Properties Ltd
Jeffrey has a depth of experience in management and the property industry, as well as property upgrading and development. Jeffrey is the Managing director of City Property.
Octodec has built strong relationships through ongoing, two-way communication with our stakeholders. Tenants, suppliers, employees, government and business partners are central to our business. We take the contributions we make to the long-term sustainability of the communities where we operate very seriously.
Corporate social investment
Our investment in the security, education, well-being and sustainability of the communities in which we operate is an integral part of our commitment to building dignity and creating shared value.
Our relationships with the investor community, government, regulators, municipalities, business partners, service providers, and communities impact our business and reputation. These relationships form part of each capital and are vital mechanisms in our business model.
Procurement and enterprise development
Octodec has a good record of procuring from black-owned companies or from companies that have a significant black shareholding. We are focused on transforming our procurement, particularly in terms of maintenance and repairs. Where we cannot find contractor companies that are 51% black-owned in specialist areas, we will contract to those with some black ownership.
We have an enterprise and supplier development programme in place that supports our supplier companies.
Stakeholder relations
We communicate with the investor community through our reporting, results presentations, SENS announcements, city tours, one-on-one meetings and at our Annual General Meeting.
The skills, competencies, and experience of our people and their safety, health, well-being, and motivation make up our human capital.
Training and development
Ensuring that our people are equipped to do their jobs and work safely are at the top of our list. Investing financial capital through training and development is an absolute imperative. We also feel strongly about fair remuneration and benefits to ensure quality of life.
We furthermore invest in developing our stock of intellectual capital by providing our employees with the opportunity to continually grow and develop during their employment with Octodec. All staff have biannual performance and development reviews, supplemented by regular performance feedback during the year.
We are committed to greater environmental responsibility and the development and diffusion of environmentally friendly technologies.
Our natural capital embraces the environmental resources and processes we use to build, refurbish and redevelop our properties. It includes renewable and non-renewable resources and techniques such as energy consumption, waste creation and emissions.
Conserving scarce resources
Our approach to minimising our environmental impact is based on international best practice, legal compliance and our commitment to limiting our use of scarce resources.
Qualifications: MSc (Mining Engineering), DPLR, MDP
Designation: Independent non-executive director
Date of appointment: 1 October 2013
Board committee memberships: Nominations, Risk and Social, Ethics, Remuneration and Transformation Committees
Significant other public company directorships: None
Gerard is the chief executive officer of KCS Resources (Pty) Ltd, an executive director of M Squared Resources (Pty) Ltd, the former chief executive officer of Transafrika Resources and the Pamodzi Resources Fund. Prior to that he was director of business development (resources) at Rand Merchant Bank, head of investment banking (resources) and head of equities research at BoE Merchant Bank and BoE Securities. He was formerly an independent non-executive director of Keaton Energy Holdings Ltd.
Our stock of intellectual capital provides us with a competitive advantage. Intellectual capital flows from our collective expertise and processes. It also stems from the strategies, policies, procedures, standards, and codes governing doing business and conducting ourselves collectively.
Key elements of our intellectual capital are our ability to collect from and administer a large number of tenants in different sectors, adapt to a changing business environment and achieve cost efficiencies.
Establishing successful relationships with our stakeholders is another critical element of our intellectual capital. Our use of technology and innovation, and our robust and fit for purpose IT systems, give us the competitive edge in terms of intellectual capital.
The financial capital we invest in developing our people and the communities in which we operate is a firm contributor to our stock of intellectual capital.
Octodec’s financial resources include cash generated from rental income and the resources we obtain from equity, debt funding and the proceeds from the recycling of properties.
The financial resources are further increased through the capital appreciation of our properties. These resources make it possible for us to achieve our strategic objectives. We use financial capital to manage, refurbish and redevelop our existing portfolio and grow our selection through acquisitions.
We also use our financial resources to remunerate our people and prioritise lifelong learning and training. In addition, we utilise our financial capital to deliver on our social responsibilities and to minimise our impact on the environment.
As a REIT, we are tasked with investing our capital wisely to return capital to shareholders in the form of distributions on a sustainable basis.
We use our manufactured capital, which includes the properties, infrastructure and equipment we own, to grow our financial capital by generating rental income. The rental income is then put towards increasing the quality and value of our property portfolio through refurbishment and redevelopment. We also grow our manufactured capital through the purchase of additional properties.
