Dexus
Dexus

FY19 Commitments

Dexus’s FY19 commitments reflect its focus on responsible investment, spanning its sustainability approach.

Dexus has set performance targets across the five key objectives of its sustainability approach, with the overarching goal of delivering sustained value aligned with investor commitments. Through these commitments, Dexus sets targets that are measurable, relevant, aspirational and achievable.

Sustained Value
Investors
  • Deliver circa 5% growth in distribution per security for the year
Office and Industrial
  • Maintain office and industrial occupancy >95%
  • Target like-for-like income growth in office of 4-5% and industrial of 2.5-3.5%
  • Manage capital expenditure down to $155-165 million
  • Selective forward leasing to manage expiry risk
  • Capture upside in Sydney market
Development
  • Complete the development of 100 Mount Street, North Sydney
  • Advance and de-risk leasing of key projects in the development pipeline and activate new opportunities
Third Party Funds Management
  • Continue to drive strong performance across all unlisted funds and partnerships, while progressing the launch of new unlisted funds or partnerships
Trading
  • Target trading profits of $35-40 million net of tax, and advance future opportunities
Capital Management
  • Focus on preserving our debt duration and continue to seek further debt diversification options
  • Expand our customer offering to include products and services that enable our customers to respond to the dynamically evolving workplace
  • Extend partnerships with 25 wellness providers within Wellplace, which customers of all sizes can access
  • Deploy more than 15 smart technologies within the 100 Mount Street, North Sydney development to deliver a better customer experience, optimise workforce productivity and wellbeing and improve the building’s sustainability performance
  • Collaborate with a community partner to provide a holistic approach to creating healthy, enriched and productive customers and building communities
  • Streamline our community fundraising approach, providing our customers the opportunity to input into the allocation of funds raised
  • Collaborate on an industry-wide approach to assessing supply chain sustainability, and conduct due diligence in alignment with modern slavery reporting requirements
  • Collaborate with stakeholders to invest in the cities of the future by unlocking potential value and enabling sustainable urbanisation through the activation of six sites within the existing portfolio by 2022
  • Contribute to the creation of cities of the future through the development of four precincts that are defined by human activity, comfort and culture, with people connecting to each other and to place
  • Deliver 1,000,000 square metres to a minimum 5 star NABERS Energy rating and 4 star NABERS Water rating across the group’s office portfolio by 2020
  • Reduce energy consumption and emissions across the group by a further 10% by 2020 using the FY15 baseline, including exploring opportunities for renewables as part of a transition to net zero emissions by 2030
  • Consistently demonstrate a resource recovery rate of 80% by 2020 from de-fitting vacated space, actively identifying resources for re-use and increasing waste diversion from landfill
  • Continue to build a constructive and diverse culture and progress towards our gender diversity target of 40:40:20 by FY21
  • Build workforce capability to deliver our strategy today and in the future
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