Growthpoint closes a 26-year era with a strong FY2026 result as Norbert Sasse steps down

Growthpoint Properties has posted one of its strongest results in years for the financial year ended 30 June 2026 — and marked the end of an era, with Group CEO Norbert Sasse reporting his final set of results after 26 years leading South Africa's largest primary listed property company.

A strong finish under outgoing leadership

Total property assets grew 2.8% to R160.1 billion, helped by a 1.6% increase in valuations, while revenue topped R13.2 billion for the year. The balance sheet kept strengthening too: the group's loan-to-value ratio improved to a conservative 38.7% (from 40.1% in FY25), with SA REIT gearing down further still, to 30.2% (from 34.5%). The payout ratio holds at 87.5% for FY2026.

"This strong set of results shows that Growthpoint has done well to exceed expectations and deliver solid earnings growth while executing our strategic priorities," Sasse said.

A diversified portfolio doing the heavy lifting

The numbers reflect Growthpoint's long-running pivot across office, retail and industrial property, with strong-performing assets — including its stake in Cape Town's V&A Waterfront — helping offset pressure that's persisted in parts of the Gauteng office market, a dynamic anyone tracking office vacancies in Johannesburg and Pretoria will recognise.

Source: Growthpoint Properties' FY2026 results, reported 9 September 2026 — see Growthpoint's own press office and Moneyweb's coverage.

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