• High quality real estate portfolio strategically located in high growth zones.
• Low gearing on property assets.
• Significant returns to shareholders over many years.
• High growth potential due to national serviced land shortages.

The property division has proven its resilience and adaptability, maintaining its status as one of the largest private property development companies in Namibia. The company’s flagship project, the Elisenheim Lifestyle Estate, is regarded as one of the most unique and successful privately developed lifestyle estates within Namibia.

The mismatch between the supply of developed land and the demand therefor remains the principal factor contributing to the acute shortage of serviced land in the country. The effects of a recessionary economy, to which the COVID-19 pandemic contributed, continued to negatively impact almost all sectors within Namibia, with property sales recording a slight decrease during the 11 month reporting period. The contraction in property sales was fuelled by the unavailability of property financing, lack of funding for prospective home owners as well as uncertainty in the economy which forced a change in consumer behaviour and purchasing power.

Even though the Namibian economy remains constrained due to the effects of the pandemic, the housing market has shown resilience and seems to be stabilising to pre-COVID-19 levels. With record low interest rates and a lack of supply of housing countrywide, the property market is expected to show strong growth in the near term.

At the reporting date:
• Trustco Properties owns an estimated 4 547 hectares of high quality real estate.
• The total land bank creates an opportunity for the provision of over 25 000 mixed-use erven.
• Trustco Properties had successfully serviced over 660 erven.
• Revenue generated during the reporting period amounted to over NAD 80 million.

More information about Trustco Properties is available at: