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Real estate industry

Attacq Records Remarkable Financial Growth, Outlooks Resilient Performance

Strategic Insights

— 1 min read

Attacq, a JSE-listed Real Estate Investment Trust, has reported a stellar financial performance in its latest fiscal year, with key highlights including a 25.6% increase in distributable income per share (DIPS) to 108.3 cents and a 26.1% rise in the annual dividend to 87 cents per share. The company's growth trajectory is attributed to effective cost management, successful leasing strategies, and rising market rentals. Additionally, Attacq's occupancy rate remained robust at 91.6%, driven by a combination of factors including diligent cost control and increased recoveries linked to energy generated from rooftop photovoltaic systems.

Key Takeaways:

  • Attacq recorded a 25.6% increase in distributable income per share (DIPS) to 108.3 cents and a 26.1% rise in the annual dividend to 87 cents per share.
  • The company's occupancy rate remained strong at 91.6%, driven by a combination of factors including rising market rents, diligent cost control, and increased recoveries linked to energy generated from rooftop photovoltaic systems.
  • Attacq has forecasted DIPS growth of between 7% and 10% for the upcoming 2026 financial year, with a projected dividend payout ratio of 80%.
  • The company's gearing improved slightly to 25.3% from 25.4% in the previous year.
  • Attacq raised R760 million through its Domestic Medium-Term Note program, effectively reducing the cost of debt.
  • Retail expansion continues to flourish at Mall of Africa, with a recorded increase of 0.1% in footcount and a 4.9% jump in trading density.
  • Waterfall City's office spaces saw an influx of new tenants, including industry leaders like Tiger Brands and Siemens Energy.
  • Attacq's diversification strategy is evident in its other key precincts, including Lynnwood Bridge, Glenfair Boulevard, and MooiRivier Mall.

Statistics:

  • Distributable income per share (DIPS): 108.3 cents (up 25.6% year-over-year)
  • Annual dividend: 87 cents per share (up 26.1% year-over-year)
  • Occupancy rate: 91.6% (driven by rising market rents, diligent cost control, and energy generated from rooftop photovoltaic systems)
  • Forecasted DIPS growth: 7-10% for the 2026 financial year
  • Gearing: 25.3% (improved from 25.4% in the previous year)
  • Debt reduction: R760 million through the Domestic Medium-Term Note program
  • Footcount: 0.1% increase at Mall of Africa
  • Trading density: 4.9% jump at Mall of Africa
  • Office space occupancy: 84.3% at Waterfall City

Sources:

  • Attacq's press release dated June 30, 2025.

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