Attacq withholds dividend amid COVID-19 headwinds

Attacq, a South African real estate investment trust, has announced its decision to pivot its investment strategy in the wake of the COVID-19 pandemic, withholding dividends and focusing on liquidity and innovation to weather the economic storm. In a recent interview with CNBC Africa, Jackie van Niekerk, CEO of Attacq, provided insights into the company's strategic shift and outlook for the future. The key theme that emerged from the interview is Attacq's proactive approach to protecting its liquidity and adapting to changing market dynamics. Van Niekerk highlighted the importance of maintaining a strong balance sheet and exploring innovative solutions to drive foot traffic in its properties. According to the CEO, the impact of remote work on the office sector remains uncertain, but Attacq is closely monitoring tenant behavior and adjusting its leasing strategies accordingly. Additionally, the company is capitalizing on the growth of online shopping by diversifying its mall offerings and hosting events to attract visitors. With a focus on showcasing local talent and creating unique experiences, Attacq aims to position itself for long-term success in a post-pandemic world.