Press release -
Discovery announces the strategic acquisition of its head office, 1 Discovery Place
Johannesburg, South Africa – 6 February 2026. Discovery announces the purchase of its head office, 1 Discovery Place, in Sandton. The decision marks a significant long‑term investment in the Group’s future and reflects the Group’s continued confidence in South Africa’s economic prospects. The acquisition delivers meaningful financial advantages while reinforcing Discovery’s ongoing commitment to operating, innovating and growing in the country.
A financially efficient, economically advantageous transaction
When 1 Discovery Place was built, the economics of a long-term lease were more attractive than an outright purchase. With seven years remaining on the existing lease, the Group initiated a comprehensive review of its long‑term property requirements.
Economic dynamics have shifted markedly over the period. Lower interest rates and reduced commercial property prices in Johannesburg created favourable conditions to switch from a long-term lease arrangement to fully-funded ownership with optimised space, at a lower overall cost.
The transaction, at R4.05 billion, will result in an immediate and growing net annual cash‑flow saving, with a net present value benefit of approximately R800 million over the remaining lease period – in addition to securing long‑term ownership of a landmark asset.
A long-term commitment to South Africa
1 Discovery Place has become central to the organisation’s culture, client engagement and global partnerships. It is both a workplace and a symbol of Discovery’s presence in its home market, in which the Group has thrived.
Adrian Gore, Discovery Chief Executive, commented: “1 Discovery Place has served us exceptionally well. It’s where our culture comes to life and where people from around the world experience Discovery first‑hand. Purchasing the building reflects our long‑term outlook, the strength of our Group, and our deep pride in our South African roots. Our plans are made with permanence in mind.”
ENDS
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About Discovery
Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, banking, savings and investment and wellness markets. Since inception in 1992, Discovery has been guided by a clear core purpose – to make people healthier and to enhance and protect their lives. This has manifested in its globally recognised Vitality Shared-Value insurance model, active in over 40 markets with over 40 million members. The model is exported and scaled through the Global Vitality Network, an alliance of some of the largest insurers across key markets including AIA (Asia), Ping An (China), Sumitomo (Japan), John Hancock (US), Manulife (Canada) and Vitality Life & Health (UK, wholly owned). Discovery trades on the Johannesburg Securities Exchange as DSY.
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