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Emira - pre-close operational update
The Company provided an update to investors regarding the operational performance of its investments for 5-months ended 31 August 2026 ("the period"), together with other financial information up to the date of this announcement.
SA direct local portfolio
Commercial portfolio (operational metrics for the period apply to 29 properties that are held as at 31 August 2026)
Vacancies across the total portfolio increased slightly to 4.3% (by GLA) at the end of the period (March 2026: 4,1%). Tenant retention remains a key focus, with 88.2% (by gross rental) of leases that matured during the period being retained (March 2026: 81.6%). The total rent reversion rate for the period was -4.4%, with the outcome primarily determined by two specific leases concluded during the period (March 2026: -3.7%).
The Fund's weighted average lease expiry ("WALE”) at the end of the period improved to 3.1 years (March 2026: 3.0 years), while the weighted average lease escalation remained the same at 6.3% (March 2026: 6.3%).
Residential portfolio
The residential portfolio at 31 August 2026 consists of 1 737 units (March 2026: 1 970) located in Gauteng (95% of units) and Cape Town (5% of units).
Vacancies at the end of the period for the residential portfolio (excluding any held-for-sale units) improved marginally to 2.0% by units (March 2026: 2.1%).
Emira expects to release its interim results for the six-months ended 30 September 2026 on Monday, 30 November 2026.
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