Attacq, the real estate investment trust behind the development of Waterfall City, said on Tuesday its distributable earnings per share grew by 9.5% to 45c in the six months ended December.
However, the Reit’s net asset value per share decreased by 2.4% to R23.66 mainly due to the full-year dividend payout of R520m in October 2018 and impairments against the group’s rest-of-Africa retail assets. Attacq’s exposure to the rest of Africa is via a 25% shareholding in Gruppo, the owner of Nigeria’s Ikeja City Mall, and a 31.8% stake in AttAfrica, which is invested in four retail properties in Ghana and one in Zambia.
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