Attacq prepares for conversion into Reit
Mall owner is selling assets in Pretoria
Attacq, the owner of Mall of Africa and other assets in Johannesburg’s Waterfall node, is cleaning up its portfolio to focus on developments in Midrand and the rest of Africa as well as offshore opportunities. Most of the company’s interests in Pretoria and Namibia are being sold. Attacq, which listed in 2013, is converting from a development company into a real estate investment trust (Reit) to pay income returns to investors. The group is making progress in the sale of various noncore assets. "We want to focus on our existing portfolio, our Waterfall development portfolio, our investment in European group MAS Real Estate and our exposure to various African shopping centres," said recently appointed chief operating officer Jackie van Niekerk. Attacq will become a Reit on July 1 2018. Attacq will own 30.8% of MAS Real Estate, a western European property investor that recently began investing in eastern Europe. Attacq also has stakes in malls in Ghana, Zambia and Nigeria, through a p...
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