The Future looks bright for JSE listed REIT ATTACQ Limited
Attacq Limited (“Attacq”), the JSE-listed REIT developing premium precincts such as Waterfall City, concluded its financial year end, 30 June 2021, with a solid financial and operational performance. The company’s sound results were supported by a well-considered capital structure improvement programme and a strategy of informed disposals.
Attacq’s high-quality South African real estate portfolio consists of retail-experience hubs (retail), collaboration hubs (office and mixed-use), logistics hubs (light industrial), and hotels. Attacq’s recent disposals of the Deloitte head office, Massbuild distribution centre and the Amrod building, at close to their valuations, demonstrates the quality of its real estate portfolio. The proceeds of these capital recycling transactions, as well as it shares in MAS, totalled R2.8 billion to date and will be utilised in reducing interest-bearing debt and improve its capital structure.
Attacq CEO Jackie van Niekerk says, “It’s been another year of flux for the real estate sector in South Africa – and across the globe. The Covid-19 pandemic continues to impact businesses and people alike, bringing with it a need for flexibility, forward-thinking and the imperative to understand client and customer challenges more deeply than ever before. While Attacq has remained focused on delivering on the financial and operational strategy, and we are extremely gratified to see this flow through in company performance. It is our team’s ability to roll with the punches and adapt at pace that has helped us keep moving forward so steadily.”