Attacq takes further steps to achieve Reit status

JSE-listed property developer Attacq on Monday said it was adopting an income distribution strategy, aimed at taking it one step closer to gaining real estate investment trust (Reit) status, which includes the reduction of existing debt facilities using the proceeds from the disposal of its Central and Eastern European investments. The company said it would also focus on the continued optimisation of its balance sheet and the sale of certain noncore assets, where the deployment of the proceeds will serve to enhance sustainable and growing distributable earnings.