Page 18 - Waterfall City Issue 6 June 2024

Waterfall City News

MALL OF AFRICA

Now fully owned by AWIC

A ttacq Waterfall Investment was healthy at 7.5%. Going forward, and this transaction demonstrates

our commitment to delivering against
Company (AWIC) has
the Mall will also benefit from the
continued densification of Waterfall
acquired the remaining
what we had promised.”
20% stake in Waterfall
City’s iconic retail destination, City. Mall of Africa recently celebrated its
Mall of Africa. This previously “We are delighted to announce eighth birthday. It opened its doors in
belonged to the Atterbury Group. this transaction as Mall of Africa is 2016 as South Africa’s largest shopping
undoubtedly one of Attacq’s flagship mall ever built in a single phase, with
Mall of Africa is one of South Africa’s retail assets. As Waterfall City continues over 130 000m of fully occupied retail
2
leading super-regional malls across to densify, sole ownership of the Mall space. It features leading international
all performance metrics. It anchors will allow control over the asset in apparel brands and national favourites.
Waterfall City CBD, a growing, large- influencing growth and trade, and we It is home to SOOK Mall of Africa,
scale mixed-use precinct encompassing aim for Mall of Africa to remain one of an on-demand leasing solution for
residential, logistics, and collaboration SA’s top-performing super-regional small business enterprise needs and
hubs. Two strongly performing hotels malls,” says Attacq CEO Jackie van emerging entrepreneurs.
also provide high volumes of quality Niekerk.
foot traffic to the Mall. Six rooftop Padel courts will be opened
“Furthermore, in March, we indicated in September, adding more lifestyle
As of 31 December 2023, the Mall’s to the market during our interim elements to the Mall, which already
compounded annual trading density results presentation that we would boasts Waterfall City Park and Bounce
growth over the past three years was look to acquire key assets after indoor trampoline park aimed at the
16.1%, whilst its rent-to-turnover ratio disposing of the Group’s MAS shares, younger demographic.

16 Waterfall City Issue 6 2024