As a return to the office gains momentum, Attacq is seeing an uptick in office letting, especially from international companies seeking quality buildings in secure environments.
Though the broader office market is still characterised by consolidations and reduction of space, many companies who have been working remotely are returning to the office.
“We are seeing renewed interest for our offices, and many organisations are taking up smaller and agile spaces,” Attacq CEO Jackie van Niekerk said during a pre-close update presentation.
The Waterfall City collaboration hubs (offices) saw occupancies rise slightly to 81.2% at the end of October from 80.8% in June. Van Niekerk said about 70% of companies have returned to the office at Waterfall City with about 92% at Lynwood Bridge.
Attacq is JSE-listed real estate investment trust (Reit) with a diversified property portfolio that comprises the mixed-use Waterfall City precinct, Lynnwood Bridge in Pretoria, MooiRivier Mall in Potchefstroom and Eikestad Mall in Stellenbosch. It also has investments in Central and Eastern Europe through its investments in JSE-listed MAS Real Estate.
Van Niekerk said in Waterfall City there is also big demand for space from pharmaceutical and technology companies as well as logistics operators. Global blue-chip companies including Amazon Web Services, Cisco, Pfizer and Ericsson are some of the tenants who moved into the precinct recently.
Attacq said its guidance of 8%-10% growth in dividend per share remains as communicated in September. By 2.30pm on Tuesday, its share price had gained 2.14% to R7.65.
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