Development continues at Waterfall City

8th August 2018

Development continues at Waterfall City

From Creamer Media in Johannesburg, this is the Real Economy Report.

Sashnee Moodley: Construction and development of JSE-listed Attacq’s Waterfall City is ongoing, with new infrastructure including roads, residential properties and warehouses continuously in the pipeline. Anine Kilian tells us more.

Anine Kilian: During a tour of the area, Waterfall precinct head of development Giles Pendelton said the last quarter had been robust, and that the company received a number of corporate enquiries ranging from tenants wanting between 3 000 m2 and 50 000 m2 of letting space.

Waterfall precinct head of development Giles Pendelton:

Anine Kilian: He points out that the company recently listed as a real estate investment trust (REIT) on the JSE.

He adds that the Reit conversion finalises the company’s shift in focus from providing only capital growth to a focus on total return, comprising sustainable income distributions as well as capital growth.

He also adds that there are significant tax benefits to the listing and that the Reit paid distributions twice a year, which was beneficial to investors..”

Attacq is targeting a maiden dividend payment of 73c per share, payable in October, for the financial year ended June 30.

Waterfall precinct head of development Giles Pendelton:

Anine Kilian: Acting Attacq CEO Melt Hamman notes that Cummins and Deloitte are busy building their distribution centres on the eastern side of Waterfall City, which will be due for completion at the end of this year and 2022 respectively.

He further highlighted that, from a location point of view, Waterfall was between Johannesburg, Sandton and Pretoria, adding to its accessibility.

Acting Attacq CEO Melt Hamman:

Sashnee Moodley: That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.