Attacq achieves 15.3% growth in adjusted FY NAVPS

Property investor and developer, Attacq Holdings, has recently unveiled its full-year financial results, showcasing impressive growth amidst a challenging economic landscape. The company attributes its success to strategic acquisitions and developments that have bolstered its portfolio and profitability. Attacq's Chief Executive Officer, Morne Volkin, discussed the firm's performance and highlighted the impact of key assets like Mall of Africa and Waterfall City. Attacq's ability to navigate the complex local market conditions while also addressing volatility in international markets has been a key driver of its growth. The incorporation of new assets, such as Mall of Africa, has significantly contributed to the company's positive financial performance. Volkin emphasized that Attacq's focus on developing properties for long-term ownership has been a successful strategy. Mall of Africa, a flagship property in Attacq's portfolio, has emerged as a thriving retail destination. Situated in a prime location in Gauteng, the mall attracts over 1.1 million visitors monthly, reflecting its popularity and strong consumer appeal. With a diverse tenant mix and world-class retail offerings, Mall of Africa has achieved recognition for its excellence, further enhancing Attacq's reputation in the market. The strategic positioning of Mall of Africa within the Waterfall development has been a significant advantage for Attacq. As part of the vibrant Waterfall City, the property serves as a catalyst for growth in the region. The mixed-use development model has proven successful, capturing the interest of both commercial and residential tenants, and positioning Waterfall City as a premier destination. While the competitive landscape remains dynamic, Attacq remains optimistic about the sustainability of its assets, emphasizing the unique value proposition offered by its properties. The company's investment in sustainable practices, such as energy-efficient buildings, aligns with growing tenant demands for environmentally conscious spaces. In addition to its success in the retail sector, Attacq has identified opportunities in the industrial segment, particularly at the Waterfall development. The central location of Waterfall has attracted logistics companies, leading to the development of distribution centers that cater to evolving market needs. The industrial segment presents long-term lease opportunities, contributing to the diversification of Attacq's portfolio. Beyond its South African assets, Attacq has exposure to European markets, including Switzerland, Germany, and the UK. While uncertainties like Brexit pose challenges, Attacq's diversified strategy aims to mitigate risks and capitalize on opportunities across different regions. The company's investments in Eastern and Central Europe have shown promising growth, indicating a balanced approach to market expansion. Looking ahead, Attacq remains cautious about further acquisitions, particularly in the competitive European environment. With a focus on prudent investment decisions and leveraging its strong local partnerships, the company is poised to navigate market challenges and sustain its growth trajectory. Despite the complexities of the current economic landscape, Attacq's resilient performance underscores its position as a leading property developer and investor.