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Our numbers tell the story

Trace our history and see the growth of Redefine


  • Redefine aligned its organisational operating structures to its strategy to ensure a more effective team.
  • Redefine secured the takeover of Fountainhead Property Trust’s portfolio during the year. Redefine has acquired all of Fountainhead’s assets including the entire Fountainhead property portfolio, in exchange for 85 new Redefine shares for every 100 Fountainhead units, plus the assumption of Fountainhead’s liabilities. The transaction was priced at R14 billion. Fountainhead’s property portfolio comprises 44 properties, of which 70% by value are prime retail assets.
  • Acquired the Macsteel portfolio for R2.7 billion with a 12-year triple net lease.
  • Acquired the Leaf Capital portfolio of properties during 2015, substantially enhancing the Office portfolio in the Western Cape. The transaction was priced at R4.1 billion, equating to an initial income yield of 8%.
  • Additionally, during the year, Redefine announced its intention to make a 51% investment in Respublica for R200 million.
  • Market cap increased to R54.8 billion.


  • Redefine exited its remaining Hyprop holding.
  • REIT status approved from 1 September 2013.
  • Redefine completed its maiden direct offshore property acquisition, obtaining a 50% share in the landmark Northpoint Tower located in North Sydney, Australia.
  • International investments increased by R3.6 billion to R7.4 billion.
  • The issued capital of Annuity Properties was acquired for R1.4 billion.
  • An offer to acquire all the assets of Fountainhead did not receive the requisite shareholder approval.
  • Inward listing of Redefine International PLC.
  • A strategic stake was acquired in Emira, subsequent to year-end.
  • Completed first 4-star Green Development – 90 Grayston Drive.
  • Market cap increased to R36.4 billion.


  • Redefine acquired a controlling stake in Fountainhead and increased its holding in Cromwell to 12.5%.
  • ADR programme was launched in the United States to facilitate international ownership – the first property company in South Africa to do so.
  • Awarded the tender to develop new Webber Wentzel attorney offices in Sandton, valued at approximately R1.1 billion.
  • Internalised the measuring and recovery of electricity.
  • Market cap increased to R30.2 billion.


  • Redefine acquired the Fountainhead Manco for R660 million.
  • Redefine undertook a significant rebranding process with a renewed focus on people. A modern and uniform corporate identity and a national rebranding initiative were launched to entrench the brand in the South African marketplace – We’re not landlords. We’re people.
  • Market cap increased to R26.6 billion.


  • Redefine internalised property management to streamline business processes and to reduce costs.
  • Dipula listed on the JSE – a Redefine-funded enterprise development initiative.
  • Redefine International PLC achieved an LSE main board listing.
  • Redefine made its debut in the local bond market under a R5 billion DMTN programme.
  • Successfully unbundled and listed Arrowhead on the main board of the JSE.
  • Market cap increased to R22.3 billion.


  • Redefine International listed on the JSE as part of a dual listing structure.
  • Redefine increased its stake in Hyprop from 33.3% to 45.2%.
  • Market cap increased to R21.5 billion.


  • Redefine Income Fund, ApexHi and Madison were the subject of a R12.7 billion three-way merger, resulting in the formation of Redefine Properties Limited.
  • Increased its stake in Hyprop to 33.3%.
  • Market cap increased to R19.3 billion.


to 2008

  • Redefine Income Fund was established in 1999 and listed in February 2000 with a market cap of R463 million and a R1.1 billion asset base.
  • The fund traded successfully, and in 2009 the market capitalisation had grown to R6.1 billion.