Attacq, the JSE-listed property company which owns the Mall of Africa and numerous other assets in the Waterfall precinct, announced on Tuesday that it had converted to a Real Estate Investment Trust (Reit), following JSE approval. Attacq was founded in 2005 and listed as a property company on the JSE in 2013. The intention to convert to an income focused Reit formed part of the revised strategy which it announced to the market in June last year. The group had been a capital growth company but would become a Reit and have to pay the majority of its income out to shareholders. Critics have argued that its capital value has not grown quickly enough, with its share price having grown about 6.6% since it listed. Interim CEO Melt Hamman said this would enable it to access a broader range of shareholders. Most property companies listed on the JSE are Reits. "Our Reit conversion finalises our shift in focus from providing only capital growth to a focus on total return comprising sustainabl...
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