Housing developer Calgro M3 said on Tuesday that cash flow at one of its operations had been stunted by people illegally occupying its developments. Calgro, which traditionally builds affordable housing, has spent the past year launching rental business in partnership with SA Corporate Real Estate, and a memorial parks business. Within six years, the three businesses will each contribute a third to Calgro’s group revenue. CEO Wikus Lategan said while the new residential rental business had gained momentum in recent months, Calgro’s developments business had been delayed by people trying to illegally occupy the housing units it was building. "The residential rental investment business is well under way with a total of 1,140 units handed over to the consortium. The balance of the first 3,842 units are being delivered on a staggered, monthly basis," Lategan said. "The residential developments business has experienced delays on circa 4,000 of the 7,093 units under construction and/or re...
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