Page 18 - Waterfall City_Issue 10_2022

Waterfall City News

Vantage Data Centers, Waterfall City Logistics Hub

Ellipse Waterfall

Mall of Africa, Waterfall City Nexus building 1 Waterfall City

to the increase in total distributable And, with its exposure to defensive,
income per share of 34.2%.” high-quality retail and residential • Dividends resumed with 50.0 cents
developments, and complemented by per share declared for the financial
The Group’s interest-bearing premium-grade office developments, year.
borrowings reduced by 18.7% while its it is well-positioned to grow further • Distributable income per share
net asset value per share grew by 11.0% as consumers and businesses increased by 34.2% to 62.8 cents.
to R17.49 (2021: R15.75 per share). seek quality and convenience in • Trading profit of 9.7 cents per
their living, business and leisure share on the sale of sectional title
A CAUTIOUS BUT destinations. units (excluded from distributable
ENCOURAGING OUTLOOK income).
– INVESTORS AND CLIENTS In line with this, Attacq’s decision • Net asset value per share increased
SEEK QUALITY to discontinue its plans for The by 11.0% to R17.49.
At a macro level, there are a number Mix residential development and • Gearing and interest cover improved
of headwinds, including poor business redouble its efforts on additional from 43.3% to 37.2% and 1.41 times
confidence, high unemployment, phases of the Group’s flagship Ellipse to 1.58 times, respectively.
rising inflation and interest rates, Waterfall development has borne • Occupancy and collection rates
which are likely to restrict economic fruit. To date, Ellipse has achieved remain high at 92.1% and 97.8%,
growth. Notwithstanding these more than R1 billion in sales since its respectively.
headwinds, the portfolio is expected launch in July 2021 and has already • Growth in weighted average trading
to continue to generate income seen its first residents move into the density over 12 months of 12.6%.
growth, coupled with improved mixed-use hub. • Completed Waterfall City
funding and liquidity positions, given developments of R997.6 million,
the improved capital structure. For more information and Attacq’s totalling 47 623m² of GLA.
latest news, go to www.attacq.co.za, • Power Purchase Agreement for
Attacq’s resilient portfolio is diversified or visit Attacq’s LinkedIn page for 15MWp concluded.
by geography, sector and asset class. current updates.

16 Waterfall City Issue 10 2022