×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.