South African Real Estate Undervalued over 20% based on DCF

Attacq

Market Cap: R10.1b

An innovative Real Estate Investment Trust (REIT) based in South Africa, with a vision to create sustainable value for all stakeholders.

Heriot REIT

Market Cap: R5.1b

Heriot REIT Limited (“Heriot” or “the Company”) is a property holding and investment company that is listed in the “Diversified REITs” sector on the Alternative Exchange of the JSE Limited (“JSE”).

Octodec Investments

Market Cap: R2.8b

Octodec Investments Limited (Octodec or the company), its subsidiaries and associated company (the group) is a real estate investment trust (REIT) listed on the JSE Ltd (JSE) and A2X, with a diversified portfolio of 226 residential, retail, office and industrial properties situated in the major metropolitan areas of Tshwane and Johannesburg.

Accelerate Property Fund

Market Cap: R808.1m

Accelerate Property Fund aspires to be the most valued property fund on the Johannesburg Stock Exchange by acquiring high-quality properties with long-term leases with strong tenants.

Newpark REIT

Market Cap: R480.0m

Newpark was registered and incorporated as a public company on 7 December 2015.

Delta Property Fund

Market Cap: R192.8m

Delta Property Fund Limited (“Delta” or “the Group”) is a South African domiciled Level 1 B-BBEE Real Estate Investment Trust (“REIT”).