Johannesburg - Attacq plans to invest about R1 billion in new developments at Waterfall in Midrand.
Morne Wilken, the chief executive, said this week that Waterfall had the best development land in South Africa and the opening of the Mall of Africa earlier this year would be the catalyst that created momentum for the development of Waterfall City.
He said the opening of PwC Towers would accelerate this. “We have spent R1.1bn on infrastructure and we have 783 000m² that we can roll out within the next few years. That is 270 000m² of industrial land, 400 000m² of offices, 23 000m² of retail and 90 500m² of residential and hotels.”
Wilken said the gross value of all these developments would be about R1bn. This investment was earmarked for Waterfall despite Attacq indicating it planned to increase its exposure to developed and emerging markets and reduce its exposure to South Africa.