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Attacq sees spurt in asset value
The group opened superregional shopping centre Mall of Africa in Waterfall City in April. It said the development profit made in the period from the 131,000m² shopping centre was about R580m and about R178m from other developments. Attacq's total asset value grew 18.6% to R27.6bn, since June 2015 when it stood at R23.3bn. Attacq's international portfolio showed positive growth both in value and percentage contribution to the overall net asset value with offshore assets increasing 34.5% to R5.9bn.
"Attacq is a South African fund with a quality diversified portfolio and development pipeline," said CEO Morné Wilken.
Attacq has enjoyed healthy income growth from its core portfolio with particularly favourable performance from the South African retail and industrial portfolios."
As much as 15% of Attacq's total assets were in developed markets, Wilken said.
Attacq's investment in developed markets focused on investments in JSE-listed property owner MAS Real Estate and in Cyprus.
"The current global market is a challenging one and we have seen its influence in the performance of the MAS Real Estate and our African investments. Our investments in Serbia and Cyprus have stood us in good stead," he said.
Source: Business Day
Source: I-Net Bridge
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