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JSE-listed real estate investment trust Attacq and residential developer Tricolt Group have officially broken ground on Aspire Waterfall City, a R624 million luxury residential development within Gauteng\u2019s R15.3 billion Waterfall City precinct.<\/p>\n
The project, which launched sales 12 months ago, comprises 217 apartments and penthouses. Buyer response has seen over 76% of the units pre-sold before construction began.<\/p>\n
Prices for the residential inventory ranges from R1.9 million for an executive suite to R32.35 million for a signature penthouse. Construction is expected to take about 22 months, with completion scheduled for the second quarter of 2028.<\/p>\n
Location and off-plan sales<\/p>\n
The development is situated next to Mall of Africa, with direct pedestrian access to the retail hub.<\/p>\n
David Oosthuizen, development executive at Attacq, said the location and access to amenities had helped drive sales among both owner-occupiers and investors.<\/p>\n
\u201cAspire\u2019s unique location \u2013 positioned within an iconic smart city with a complete offering of residential, business, leisure and relaxation destinations, and directly connected to Mall of Africa \u2013 has been one of the development\u2019s strongest selling points, appealing to both end-users seeking a convenient lock-up-and-go lifestyle and investors looking for long-term capital growth and rental demand.<\/p>\n
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\u201cThis demonstrates continued demand for high-quality, well-located residential opportunities,\u201d he said.<\/p>\n
Listen\/read: Developer confirms fourth Pantry store will be at Mall of Africa<\/p>\n
The development will also accommodate short-term letting through approved third-party operators, following a model used in earlier residential projects in the precinct.<\/p>\n
The developers said neighbouring developments, including Ellipse, had demonstrated the potential of short-term letting to generate returns for investors in Waterfall City.<\/p>\n
Precinct infrastructure<\/p>\n
The project has attracted a notable number of repeat buyers who previously purchased units in Attacq and Tricolt joint ventures.<\/p>\n
Oosthuizen said the response highlighted the importance of connectivity and infrastructure in attracting buyers.<\/p>\n
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\u201cThe market response confirms what we have always known \u2013 that people want more than proximity to amenities; they want genuine connectivity. Attacq\u2019s role has been to build that infrastructure and the confidence around it, and it is rewarding to see Attacq and Tricolt deliver a product that buyers are responding to at this scale,\u201d he said.<\/p>\n
Read:
Continued Waterfall City investment yields solid returns for Attacq
R2.75bn Attacq Waterfall City expansion includes 19-storey residential tower<\/p>\n
Tim Kloeck, chair of Tricolt Group, said the development reflected the company\u2019s approach to residential property.<\/p>\n
\u201cWe are proud to see Aspire Waterfall City break ground. For us, Aspire represents the essence of what we believe great residential developments should deliver: enduring investment value, considered style, and an exceptional lived experience,\u201d he said.<\/p>\n
\u201cWe\u2019ve created a lifestyle that is both convenient and future-focused. The strong market response, particularly from repeat buyers, is a powerful endorsement of the trust buyers place in our brand and the long-term value they see in this development.\u201d<\/p>\n
Attacq share price<\/p>\n
#Attacq #Tricolt #break #ground #R624m #Waterfall #City #development<\/p>\n","protected":false},"excerpt":{"rendered":"
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