<\/p>\n
David Masondo, chair of the Public Investment Corporation (PIC), has described Waterfall City as a compelling example of high-quality, long-term investment in South Africa\u2019s urban future.<\/p>\n
During an oversight visit to the Midrand precinct, Masondo characterised the development as reflecting the scale and vision necessary to build modern, sustainable and competitive cities in the post-1994 era.<\/p>\n
The Waterfall precinct is owned by the Attacq Waterfall Investment Company (Awic), which is a partnership between Attacq Limited (70%) and the Government Employees Pension Fund (GEPF) (30%).<\/p>\n
Acting on behalf of the GEPF, the PIC has invested approximately R2.7 billion into the company.<\/p>\n
This substantial capital injection does more than anchor the physical infrastructure; it currently sustains just under 23 000 jobs, reinforcing the development\u2019s role in strengthening the country\u2019s economic backbone.<\/p>\n
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Balanced approach<\/p>\n
While Waterfall City stands as a flagship asset, Masondo emphasised that it is part of a \u201ccarefully balanced\u201d and \u201cdiversified\u201d property portfolio designed to drive both financial returns and socio-economic impact.<\/p>\n
The PIC\u2019s investment discipline extends beyond large-scale commercial hubs to include inner-city regeneration, affordable housing, and catalytic financing for small and medium-sized contractors.<\/p>\n
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Continued Waterfall City investment yields solid returns for Attacq<\/p>\n
Masondo was clear that transformation is a core component of the PIC\u2019s investment identity rather than an afterthought.<\/p>\n
The organisation\u2019s record includes sustained support for black-led development platforms and broad-based black economic empowerment (B-BBEE) developers in the commercial sector, ensuring that investment decisions contribute to a more inclusive economy while safeguarding public servants\u2019 pensions.<\/p>\n
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Commitment to transparency and oversight<\/p>\n
The visit to Waterfall City is said to mark the beginning of a nationwide series of engagements.<\/p>\n
Over the next three months, the PIC chair is scheduled to conduct further oversight visits to key assets across South Africa.<\/p>\n
These visits are intended to reinforce the corporation\u2019s commitment to accountability and transparency, ensuring that its vast portfolio continues to be responsive to the developmental needs of the country.<\/p>\n
#PIC #backs #Waterfall #City #model #longterm #urban #investment<\/p>\n","protected":false},"excerpt":{"rendered":"
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