SAFARI Investments, which has grown its portfolio about 30% in the year to March, says it is on track to reach its R3bn property target by the end of 2018.The group said on Wednesday that during the year under review, it had increased its portfolio to 19 properties valued at R2.2bn, from a previous nine properties worth about R1.7bn.The company, which listed in April 2014, said its focus on township shopping centres was serving it well and that its expansion plans in Namibia were also gaining traction.CEO Francois Marais said Safari was looking to more than double its portfolio from the R1.3bn it listed with in 2014, to R3bn by the end of 2018.Revenue increased 22% year on year to R172m, with R140m in the 2015 financial year.The company’s net asset value per share was R8.54 at year-end.The investment company declared a cash distribution of 32c per share due at the end of June.Safari is expanding its operations in the rest of Africa. In October, the company will open its first invest...
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