Construction World February 2015

PROPERTY

TACKLING WIDER STRATEGIES

Attacq Limited, a JSE-listed capital growth fund invested in a quality portfolio of income- generating commercial real estate assets and a value- creating pipeline of property developments, successfully closed a R640-million capital raising recently. demand resulted in increasing the capital raise to R640-million through the placing of 29 629 630 shares at a price of R21,60 per share. The R640-million was raised to allow Attacq the ability to acquire the remaining 18,8% of its key asset, the Waterfall pipeline, and take full control of the strategic planning of Waterfall, including the roll out of its infra- structure. This strategy has been formulated jointly with Atterbury, which is increasing its deployment of development capacity in other markets including Central and Eastern Europe, a direction which supports Attacq’s diversification strategy. Atterbury’s exclusive right as developer of Waterfall will also be amended to allow Attacq the option to partner with other developers as a means of accelerating the Waterfall development. This will come into effect as from 2018. Atterbury will still retain a 20% undivided interest in the Mall of Africa, Waterfall’s super-regional mall opening in April 2016. In keeping with the continuing strategic relationship between Attacq and Atterbury, Attacq has secured a pre-emptive right for definedmaterial developments to be under- taken by Atterbury, locally and internation- ally, ensuring Attacq’s continued access to Atterbury’s development pipeline. MornéWilken, CEOof Attacq, comments: “The excellent result of Attacq’s capital raising reflects a healthy appetite in the > Originally seeking to raise capital of around R500-million through an accelerated bookbuild, strong

PRESTIGIOUS AFRICAN PROPERTY AWARDS WINNER Waterfall Estate is amongst the winning companies of the prestigious African Property Awards 2014-2015 – winning the ‘Best Mixed-use Development in South Africa and Africa’ awards, in association with Rolls-Royce Motor Cars, announced in Dubai recently. >

Says Stuart Shield, president of the International Property Awards: “Attaining one of these coveted awards is indisputable evidence that Waterfall Estate is capable of outperforming some exceedingly strong contenders within the highly competi- tive African property arena.” The African Property Awards form a part of the long established International Prop- erty Awards and the award winners’ logo is recognised as a symbol of excellence throughout the global industry. To this end, Waterfall Estate competed against a number of developers in the African region to receive this recognition. “We are delighted at this great achievement and believe this recognition is testament to the world class development we, and our partners,

are building within South Africa – an estate that promotes an integrated live/work/play environment that provides a new standard in quality estate living. “Acknowledgment must also be given to one of our partners on the residential side of the estate, Century Property Developments, for their contribution towards the submission of this award nomination, as well as to our commercial partner Attacq who continues to play a major role in the successful development of this Mixed-use Development,” explainsWillie Vos, CEO of Waterfall Management and Oper- ating Company. “Once again, the competition this year has been of a very high standard and brought the very best of Africa’s property professionals to the fore,” concludes Shield.

14

market for Attacq shares and demonstrates strong support for our strategic direction.”

Morne Wilken, CEO of Attacq.

About Waterfall Estate Waterfall has emerged as the largest property development in South African history, combining between 8 000 – 10 000 residential units, which will even- tually house an estimated 35 000 to 40 000 people, as well as accommodate commercial and office space that will accommodate a further 60 000 people.

CONSTRUCTION WORLD FEBRUARY 2015