GAUTENG DEVELOPMENT
Attacq upbeat its flagship Waterfall project will boost growth
Attacq, the capital growth fund, has not yet realised the impressive returns that investors desire but it is confident that the Waterfall precinct, which is its main development project, will reward them in the long run. Attacq’s share price closed at R17.35 on Friday. In the middle of October 2013, prior to listing, investors had bought shares via private placement for R15 each, suggesting the value of the group’s share price has grown only about 15.6% in three-and-a-half years. The company listed in October 2013, with a property portfolio worth about R12bn. From the end of December 2015 to the end of December 2016, the value of the portfolio has been stuck at R27bn. "Waterfall is our flagship. It is our integrated lifestyle city with various components, which include offices, retail, industrial, and logistics. It is located in the centre of Gauteng and is going to be a very successful node housing world-class tenants and facilities," says CEO Morné Wilken. Upon completion, the int...
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