Attacq and Tricolt break ground on R624m Aspire Waterfall City
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JSE-listed Attacq and Tricolt Group have started construction on Aspire Waterfall City, a R624 million residential development of 217 apartments and penthouses in Gauteng, with more than three quarters of the units pre-sold.
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's R15.3 billion Waterfall City precinct.
The project, which launched sales 12 months ago, comprises 217 apartments and penthouses, with more than 76% of the units pre-sold before construction began. Prices range 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.
The development is situated next to Mall of Africa, with direct pedestrian access to the retail hub, and will also accommodate short-term letting through approved third-party operators, following a model used in earlier residential projects in the precinct. The developers said neighbouring developments, including Ellipse, had demonstrated the potential of short-term letting to generate returns for investors in Waterfall City.
David Oosthuizen, development executive at Attacq, said the location and access to amenities had helped drive sales among both owner-occupiers and investors. “Aspire’s unique location – positioned within an iconic smart city with a complete offering of residential, business, leisure and relaxation destinations, and directly connected to Mall of Africa – has been one of the development’s strongest selling points,” he said, adding that the response demonstrated continued demand for high-quality, well-located residential opportunities.
Tim Kloeck, chair of Tricolt Group, said the project reflected the company’s approach to residential property, describing Aspire as delivering “enduring investment value, considered style, and an exceptional lived experience”. He called the strong market response, particularly from repeat buyers, a powerful endorsement of the trust buyers place in the brand.
The project has attracted a notable number of repeat buyers who previously purchased units in Attacq and Tricolt joint ventures. Oosthuizen said the market response confirmed that buyers want genuine connectivity as well as proximity to amenities.