Company
Profile

Our Value
Creation

Leadership
Team

Ethics and Corporate Governance

Company Profile

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.

City Property’s know-how is what sets our business apart and is a key driver of our sustainable growth.

Our History

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 Milestones

See more Octodec history

2021

Launch of The Wash Bar, affordable laundry services, open 24/7.

2020

Launch of offering furnished units at The Fields, Hatfield, Tshwane

2019

Upgrade of exterior of 012central to align with look and feel of interiors and enclosed areas of the popular precinct.

2018

Redevelopment of Nzunza House in Johannesburg.
Commissioning of “Nzunza Portrait” by artist Hannelie Coetzee.

2017

Launch of new mixed-use development in the Pretoria CBD, Sharon’s Place.

2016

New mixed-use development,
One on Mutual launched in Tshwane.

2015

The redevelopment of Centre Forum in Tshwane was initiated. The urban renewal initiative, 012central was launched. The redevelopment of Frank’s Place in Johannesburg CBD was complete. The second phase retail redevelopment at Silverton was complete.

2014

Octodec successfully merged with
Premium Properties Limited on 1 September 2014.
Jeff’s Place in Tshwane CBD rented out its first unit.

2013

Octodec obtained REIT status on 1 September 2013.

2012

The Centre Walk development opened its first retail offering in November, followed by offices in the same year, with developments continuing into 2015.

2011

Sharon Wapnick was elected as Chairman of Octodec in October 2011.

2010

The development of the City Lodge and office block at The Fields and Kempton Place were completed.

2008

The first development phase of The Fields in Hatfield and Steyn’s Place in the Tshwane CBD were completed. Kempton place was purchased.

2007

Steyn’s Arcade was purchased and was
renamed as Steyn’s Place after its upgrade.

2006

Die Meent was purchased and renamed to Centre Walk after the development was complete.

2003

Octodec started to invest in the Johannesburg CBD.

2001

Killarney Mall was purchased.

1998

Jeffrey Wapnick took over from Alec Wapnick
as Managing Director of Octodec.

1997

First conversion of an office block into residential units in the Tshwane CBD.

1996

Nedbank Plaza was purchased.

1993

The Louis Pasteur Medical Centre was purchased.

1990

Octodec listed on the JSE.

1968

Alec Wapnick established City Property Administration (Pty) Ltd on 17 September 1968.

1956 - 1990

Octodec acquired a number of properties in Johannesburg and Tshwane and pioneered the Tshwane West redevelopment, the original Brooklyn Mall development and was the first mover in the conversion of offices to residential units in the Tshwane central business district.

1956

Octodec was founded by Alec Wapnick in Tshwane on 8 November 1956. Octodec mean 18 in Latin and referred to the 18 original shareholders, which included the Wapnick family - still a core shareholder in the business.

Strategy & Business Model

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.

Our Approach To Value Creation

Financial 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.

Manufactured Capital

Our property portfolio of well-located and attractive residential, commercial, and mixed-use spaces generates the rental income which creates value to our shareholders.

Human Capital

 

We aim to develop future-fit skills in an environment of accountability, collaboration, ethics, and growth.

Intellectual Capital

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.

Social & Relationship Capital

We make a positive impact in the areas in which we operate through our strong links with local communities.

Natural Capital

We are committed to being environmentally responsible. We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.

Our Approach To Value Creation

Financial 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.

Manufactured Capital

We use our manufactured capital – which includes the properties, infrastructure and equipment we own – to grow our financial capital by generating rental income.

Human Capital

As a strategic team, Octodec and City Property synergise our people’s skills, competencies and experience. We prioritise their safety, well-being, motivation and training.

Intellectual Capital

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.

Social & Relationship Capital

Tenants, suppliers, employees, government and business partners are central to our business. We take the long-term sustainability of contributions to communities where we operate very seriously.

Natural Capital

As members of the Green Building Council, we are committed to being environmentally responsible.
We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.

Operating Structure

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.

B-BBEE Compliance & Transformation

B-BBEE Compliance & Transformation

B-BBEE Certificate

B-BBEE Certificate – Annexure A

B-BBEE-1 Compliance Report

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:

Property management

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.

Asset 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.

Specialist services

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.

Leadership Team

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.

The Board of Directors

Non-Executive Directors

's Imagery_2023_Sharon Wapnick

Sharon Wapnick
Chairman
BA LLB (cum laude)

's Imagery_2023_Myron Pollack)

Myron Pollack
CA(SA)

's Imagery_2023_Jeffrey Wapnick

Executive Directors

Jeffrey Wapnick
Managing director
BCom

's Imagery_2023_Anabel Vieira

Anabel Vieira
Financial director
CA(SA)

's Imagery_2023_Richard Buchholz

Richard Buchholz
CA(SA)

Independent Non-Executive Directors

's Imagery_2023_Derek Cohen

Derek Cohen
Lead independent director
AEP (Unisa)

's Imagery_2023_Nyimini Mabunda

Nyimpini Mabunda
MBA, Post Graduate Diploma
(Marketing Management), BSocSci

's Imagery_2023_Maggie Mojapelo

Maggie Mojapelo
BA (Hons) (Education),
MAP, Dip HR, MBA

's Imagery_2023_Pieter Strydom

Pieter Strydom
MCom (cum laude)
CA(SA)

's Imagery_2023_Louis van Breda

Louis Van Breda
CA(SA)

Group Company Secretary

's Imagery_2023_Elize Greeff

Elize Greeff
B.Iur. LLB

How Octodec Promotes Ethical Culture

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.

Ethical Behaviour

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. 

Be Heard hotline:

Octodec’s Corporate Governance Structure Is Designed To Create Sustainable Value

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

Corporate Governance Downloads

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