South African property group Attacq and developer Tricolt started construction on 12 October 2026 on Aspire Waterfall City, a 624 million rand residential project in Gauteng, right next to the Mall of Africa.
The project includes 217 apartments and penthouses. More than 76% of the units had been pre-sold before work began, according to the two companies. Construction is expected to take about twenty-two months and to be completed in the second quarter of 2028.
Announced prices range from 1.9 million rand for the most affordable homes to 32.35 million rand for the most expensive penthouses. This spread places Aspire in the upper-middle and high-end segment of the residential market in Waterfall City, a mixed-use development combining offices, retail, homes and leisure facilities.
The high proportion of pre-sales reduces part of the commercial risk before the construction phase, but it comes from figures provided by the developers and does not equate to property transfers already completed. The companies did not detail the programme's financing structure, its expected return or the amount of deposits actually collected.
The project will also allow short-term letting through approved operators. The developers present this arrangement as a response to demand from investors seeking rental income, while the direct pedestrian link to the Mall of Africa is highlighted for residents.
Attacq is developing Waterfall City against a backdrop of selective recovery in South Africa's property market. The group had announced in September a 15.5% rise in its normalised distributable earnings per share for the financial year ended June 2026, and an increase in its development pipeline. Aspire's construction adds a residential component to this pipeline, though the final effect on rental income or portfolio value cannot yet be measured.