Norbert Sasse: CEO of Growthpoint, South Africa’s largest real estate investment trust

Norbert Sasse, Group Chief Executive Officer of Growthpoint Properties, oversees South Africa’s largest real estate investment trust and one of the most diversified listed property groups on the Johannesburg Stock Exchange. 

The company operates across South Africa, the United Kingdom, Europe and Australia, with exposure to retail, office, industrial, healthcare and residential property markets.

With a market capitalisation of about R55.8 billion ($3.3 billion), Growthpoint is the largest REIT listed on the JSE and a constituent of the FTSE/JSE Top 40 Index. 

Sasse is scheduled to step down on June 30, 2026, concluding more than two decades in senior leadership roles that helped reshape Growthpoint from a domestic property investor into a multinational REIT.

Sasse’s Journey from Finance to Property

Sasse’s career began in finance. A qualified Chartered Accountant (South Africa), he built his early experience in corporate finance before Investec appointed him in 2002 to manage property asset activities within its broader portfolio business. 

That role marked a turning point. What started as a finance mandate gradually became a focus on real estate, deal structuring and portfolio growth. In 2003, he joined Growthpoint’s board as a director and a year later became chief executive. 

By 2018, he was appointed Group CEO, reflecting the company’s expansion beyond South Africa and into offshore markets. His approach combined financial discipline with long-term property investment strategy, particularly in office, retail and logistics assets. 

Sasse also serves as founding chairman of the REIT Association of South Africa, which represents listed property companies in the country.

Growthpoint shifts toward logistics assets

Under Sasse’s leadership, Growthpoint’s growth has increasingly shifted toward logistics and mixed-use developments, reflecting changes in tenant demand and urban consumption patterns. 

In the Western Cape, the company recently began Phase 2 of the redevelopment at 7 Chain Avenue in Montague Gardens. The project builds on earlier works that strengthened demand for well-located industrial space in Cape Town’s logistics corridor. 

The group is also expanding its footprint with the Indlovu Logistics Park, a R578 million ($34.6 million) development in Montague Gardens. Demolition work is scheduled to begin in May 2026, with completion targeted before the third quarter of 2027. The project is aimed at easing pressure in a constrained supply environment for coastal industrial property. 

In the Eastern Cape, Growthpoint is investing R75 million ($4.5 million) in the redevelopment of Walmer Park Shopping Centre in Gqeberha. Construction is expected to begin in March 2026, with completion scheduled ahead of the year-end retail period. 

In Sandton, the company has also broken ground on Olympus Sandton in partnership with Tricolt Group. More than 85% of units were sold shortly after its 2025 launch, reflecting continued demand for mixed-use residential developments in urban nodes.

Growpoint’s financial performance and strategic shift 

For the half-year ended December 2025, Growthpoint reported group revenue of R6.6 billion ($394.4 million), an increase of 2.4% year on year, according to results released in March 2026. 

While growth has been steady, the company has faced familiar sector pressures, including elevated borrowing costs and uneven demand across office portfolios. In response, management has focused on repositioning assets, improving occupancy and increasing exposure to logistics and renewable energy-linked infrastructure. 

Energy security has become a central theme. In October 2025, Growthpoint began integrating wheeled renewable energy across selected properties to stabilise supply and improve cost allocation for tenants. The initiative builds on earlier investments dating back to 2011, when the group installed rooftop solar capacity at its Lincoln on the Lake building in uMhlanga.

The company has also partnered with Fuel Switch to launch a blockchain-enabled renewable energy certificate platform. The system allows tenants to track and trade verified green energy credits using AI and Internet-of-Things data for audit transparency. 

Clients are already using the system. Nedbank is offsetting emissions across 26 branches using Growthpoint’s renewable energy certificates, marking one of the early commercial applications of the platform in leased property environments. 

In another tenant-focused initiative, Growthpoint has partnered with FlySafair to introduce “SmartFlight,” a program allowing tenants to exchange part of their tenant installation allowance for domestic flight vouchers.

Sasse leads Growthpoint through expansion

Growthpoint was founded in 1987 with just 17 properties on the Johannesburg Stock Exchange. Under Sasse’s leadership, it expanded into a diversified REIT with total property assets of about R157.5 billion ($9.5 billion) as of early 2026. 

The company now owns 468 properties across multiple sectors, including retail, industrial, office, healthcare, residential and student accommodation. Its footprint extends into Australia, Romania and Poland.

As Sasse prepares to exit, the company has confirmed that long-time executive Estienne de Klerk will take over as Group CEO in July 2026. De Klerk currently leads Growthpoint’s South African operations and has been closely involved in the group’s domestic portfolio strategy. 

The transition marks the end of a long tenure that saw Growthpoint expand across markets and sectors, while adapting to shifts in property demand and energy use.