Balwin Properties revenue falls in 2020 as lockdown restrictions bite
SA’s largest sectional title developer was unable to build for a quarter of the year
17 May 2021 - 19:21
Balwin Properties, the largest developer of sectional title homes in SA, recorded a decline in full-year revenue for the first time since listing in 2015, as the pandemic stopped construction of homes in the hard lockdown.
The company said that in the year to end-February, 2,546 apartments were recognised in its revenue, compared with 2,715 the financial year before. Balwin’s policy is to recognise apartments in revenue on the earlier of transfer of ownership or handover to the owner, subject to guarantees...
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