Property investment company Attacq has issued a positive pre-close update, highlighting significant progress and reaffirming its confidence in meeting its growth target for distributable income per share (DIPS), with an expected increase of 17%-20%.
The Mall of Africa owner has achieved a strong occupancy rate of 92% and a collection rate exceeding 98.7%, highlighting the strength of its portfolio and partnerships.
Attacq cemented its financial position with a successful R760m note issuance at reduced margins.
CEO Jackie van Niekerk said: “Our journey is driven by a vision to create spaces that inspire, deliver sustainable growth and leave a lasting impact on the communities we serve.”
The group is in the process of developing five rooftop solar photovoltaic systems, which will increase its renewable energy share to 9.3%, supporting its sustainability goals.
The water connection at Waterfall Junction has been completed, paving the way for further developments and long-term economic growth.
Attacq says it is also prioritising demand management by actively monitoring water usage and detecting leaks. Ongoing investigations are also under way to construct reservoirs in Waterfall City.
The move to bolster the resilience of the company’s water systems comes after it highlighted water security and distribution efficiency as major concerns in its most recent financial results.
The group expressed concern about water shortages in urban areas, especially in Gauteng and surrounding regions, where it holds a significant asset base. The decline in water availability over the past year is attributed to environmental factors, infrastructure issues and rising demand.
Attacq is also focused on key strategic upgrades, including a 1,995m² expansion of Checkers and the renovation of 23 stores at Mall of Africa, all designed to improve the retail experience and provide greater value for clients and shoppers.
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