Attacq has earmarked R20-billion to further develop its flagship Waterfall City commercial and logistics hub.
“I’ve got a partner that’s got deep pockets,” CEO Jackie van Niekerk said in an interview, referring to a recent deal with the Government Employees Pension Fund.
The precinct, which includes shopping and data centres and logistics parks, is valued in excess of R13-billion GEPF has backed similar developments in the past, including the V&A Waterfront in Cape Town. Valued at more than R23-billion, that site is among Africa’s most valuable property assets and its backers have pledged to invest up to R4.5-billion over the next three years.
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