ATTAfrica
First-rate Real EstateWriter: Matthew StaffProject Manager: Stuart Parker AttAfrica is demonstrating its ability to roll with the punches across Africa’s real estate domain as equally pivotal periods of lucrative expansion and economic headwinds continue to be negotiated with the same long-term goals in mind.In each of the property investment specialist’s countries of operation – Ghana, Zambia and Nigeria – the business has had to adapt and modify not only its acquisition and investment strategy, but also its leasing and tenancy philosophy in line with trends being dictated both in and outside of its flagship malls.All three nations have experienced significant economic downturns in recent times, but with the former on its way back to good health, Zambia fully in remission and the latter seeing light on the horizon, AttAfrica is confident that the lessons learnt from the past year – compounded by the prowess of its existing portfolio – will stand the business in perfect stead for the 18 months to come.“We’re in three countries, have six malls all at different stages, and have a portfolio which almost serves as a case study in terms of what to expect from the different markets and how to approach each new asset,” says the Company’s Chief Executive Officer (CEO), Kevin Teeroovengadum. “We’ve seen very similar themes over the course of five years, so we can now compare the performance of retailers across our malls; what size of shop they should take, how they should grow, and what kind of tenants would make sense within our malls to begin with.“This is important…
AttAfrica
On Course for $1 billion TargetWriter: Matthew StaffProject Manager: Callum Philp AttAfrica is edging closer to its $1 billion goal as the snowball effect of early successes in the retail property investment market look set to drive future international growth, key business partnerships and sustainable recognition on a continental scale.The $1 billion relates to property assets, and signifies a concerted strategy which has been in place for the Company since its inception in 2012 under the name Atterbury Africa. Off the back of its initial achievements in Ghana and Zambia, a recent rebranding to the name AttAfrica signifies the standalone reputation that has manifested within the sector over the past four years, with the new-look business still able to leverage the experience and expertise of its three shareholders - Atterbury, Attacq and Hyprop - in the process.“It all started in 2012 off the back of the acquisition of Accra Mall,” Chief Executive Officer (CEO), Kevin Teeroovengadum recalls. “It was the first grade A mall in the city and we saw an opportunity to expand it and use it as a gateway to do other developments in Ghana.”This is precisely the knock-on effect that occurred, with the purchased and revamped Mall setting the tone for Westhills Mall which opened in late 2014, Achimota set to open in October, 2015, and its Kumasi Development which will be up-and-running in early 2017.Adding the Manda Hill Centre opportunity in Lusaka, Zambia, AttAfrica is now truly an international Company and has ticked off phase one of its strategy in making its mark in the…
