Dear Orion Reader
We are once again half way through the 2025 calendar year and at the end of our financial reporting year.
The past 6 months have been very exciting but also challenging. Some of the highlights are:
- The four furnished residential apartment projects in progress. Early indications are that our design & price points are spot on and demand will be good. The first 46 units will all be ready for occupation by 1 September 2025 The remaining 220 units will be ready in the first quarter of 2026
- During the past 6 months we have settled in some major national tenants
- Sanlam
- Liquor City
- Fashion Fusion
- Roots butchery
- ABSA Bank
- Oasis Water
- Pot O’Round
- Evolve Denim
- Foshini Women
- Pro Vantage
- We completed the acquisition/purchase of;
- 11 x Residential apartments at One on First
- 2 x Villas at Magoebaskloof Hotel
- The Venue Country Hotel
- We re opened the Mont Aux Sources Drakensberg Resort after a 5 year shut down & a R20 million refurb
- We are experiencing high occupancies at our Regus furnished offices
- We secured additional R80 million in development funding from Nedbank
The Orion Group is moving in the right direction with the continuous improvement of our balance sheet & LTV (Loan to Value) ratios.
We are looking at modifying the hotel business model through various initiatives.
Since ORE has become a family controlled private company we are able to make decisions faster and more efficiently.
Succession planning has been addressed in earnest with both Nadia & Franz (Jun) now being part of the executive team.
Our total Group headcount has grown to 400 from the 250 people just after the Covid Lockdown.
Despite the local economy, world political instability and general uncertainty we ate Orion are very confident about our future and will continue to expand & grow.
Thank you for visiting our website!
