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Attacq confident it will achieve distributable income growth of at least 17% in full-year 2025

Mall of Africa construction

Photo by Creamer Media

26th November 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE-listed real estate investment trust Attacq has reiterated its confidence in its ability to achieve distributable income a share growth of between 17% and 20% in the 2025 financial year ending June 30, 2025.

In a pre-close update issued on November 26, the company says it is delivering progress on its strategic vision, particularly in having achieved a high occupancy rate of 92% and a collection rate exceeding 98.7%.

“This reflects the strength of our portfolio and partnerships,” Attacq emphasises, adding that a successful R760-million domestic medium term note issuance at reduced margins fortifies the group’s financial flexibility, with interest cover projected above 2.5 times and gearing below 30% for the 2025 financial year.

The company is progressing the installation of five solar PV rooftop systems, which will elevate the group’s renewable-energy mix to 9.3%.

Meanwhile, Attacq has finalised a water connection project at the Waterfall Junction property, which creates pathways for more development and sustained growth.

Additionally, strategic upgrades such as a 1 995 m² Checkers expansion and 23 store revamps, will improve the retail experience and enhance value for clients and shoppers.

Attacq’s achievements are a testament to its unwavering commitment to people, purpose, and progress.

“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,” says CEO Jackie van Niekerk.

With an eye on the future, Attacq continues to lead through innovation and purpose, building a sustainable legacy characterised by growth and resilience.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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