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CONSTRUCTION WORLD
APRIL
2017
8
MARKETPLACE
Waterfall includes the Mall of Africa,
the company’s super regional retail
development and a catalyst for growth in
Waterfall; as well as mixed-use, office and
light industrial developments. “Our crown
jewel, Mall of Africa, performed above
expectation in the eight months of trading
to 31 December 2016. The Mall of Africa
generated an exceptional monthly average
trading density of R2 777 per m² and
achieved more than 1,1 million visitors per
month since opening on 28 April 2016.
Attacq’s quality portfolio includes 58%
of retail properties. All Attacq’s regional
malls across South Africa are performing
well. If the past and the development of
other cities are used as comparative case
studies, the future of Waterfall as Gauteng’s
newest lifestyle, business and light
industrial city is bright. Waterfall is rapidly
becoming a favoured business destination.
“One must note that Waterfall, with
Waterfall City as its nucleus, is in the
centre of Gauteng as the economic hub
of the country. It is the ideal infill
development between Johannesburg
and Pretoria with excellent access and
infrastructure,” he says.
Waterfall is now recognised and rapidly
gaining favourable business stature, as
people see what is happening in Waterfall
City, the 1,3 ha central Waterfall Park and
the commercial development in the area.
Attacq has a creative approach to real
estate investments and developments.
Morné Wilken, CEO of Attacq Limited
says that the tougher global economy, the
strengthening of the South African Rand
and international market volatility had an
impact on the interim results.
He explains that Attacq is a long term
property investment. He is confident that
the company’s vision to be the premier
property company in South Africa is a
sound one. The adjusted NAVPS decreased
by 1,7% year-on-year from R21,72 to R21,35
mainly due to the strengthening of the
South African Rand and international
market fluctuations.
Attacq is a South African company
with a quality diversified portfolio and
development pipeline. Attacq has enjoyed
healthy income growth from its core
portfolio, of which the weighted average
lease expiry is 6,5 years. This secures
greater sustainability of investment in
developments and resultant long term
growth. “Attacq’s development portfolio is
focused in Waterfall, Gauteng. Development
in Waterfall is a strategic priority for Attacq
as an infill development that is easily
accessible and centrally located between
Johannesburg and Pretoria. The concept
behind Waterfall is to create a new lifestyle
city where people can live, work and play,”
explains Wilken.
Steady results amidst a volatile business climate
Attacq Limited recently released its interim results for the six months ended
31 December 2016. Attacq has a total asset value of R27,1 billion at
31 December 2016 and strives to deliver longer term capital growth to
investors. Since inception to 31 December 2016 Attacq has achieved a
Compound Annual Growth Rate (CAGR) of 27,7% for net asset value per share
adjusted for deferred tax (Adjusted NAVPS).
Morné Wilken, CEO of Attacq Limited.
The second wave of development beyond
the Mall of Africa and Waterfall park is
well underway. “Four more buildings were
completed in Waterfall in the last six
months; the Allandale Building, Dimension
Data, Torre Industries and the Amrod
buildings. These buildings increase the total
directly held in attributable primary gross
leasable area by 70 424 m
2
in Waterfall,”
says Wilken.
“We look forward to the opening of the
PwC Tower and Annex in February 2018.
The opening of the PwC Tower will add
more than 3 500 mostly high LSM new
daily visitors to Waterfall which will bode
well for the entire Waterfall,” says Wilken.
As the city densifies it will increase trading
densities in the various retail properties
across Waterfall and also increase week-
day trading to be more comparable with the
weekend visitor numbers.
Waterfall Point, opposite the Waterfall
Polo Fields, is a unique offering not current-
ly represented elsewhere in the city.
Waterfall Point is a contemp-
orary sectional title office develop-
ment that consists of two super-base-
ments which sit below four identical,
two-storey buildings of around
2 500m
2
each.
More than 27 000 jobs will
be created in Waterfall during
construction and around 60 000
people will work there during the
operational phase. “Attacq, as the
leading visionary regional business
force, is proud to invest in, develop
and grow Waterfall and Waterfall City
as a world-class city destination,”
states Wilken.
The Mall of Africa in Waterfall.