16 / 56
14
CONSTRUCTION WORLD
FEBRUARY
2015
PROPERTY
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.
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.
Originally seeking to raise capital
of around R500-million through
an accelerated bookbuild, strong
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
market for Attacq shares
and demonstrates strong
support for our strategic
direction.”
Morne Wilken, CEO
of Attacq.
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.
>
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.