Balwin profits rise as revenue crosses R3bn for the first time
Revenue rose 16% to R3.1bn in the year ended February, with apartments in Gauteng the biggest sales contributor
16 May 2022 - 13:02
The revenue of SA’s largest sectional title developer Balwin Properties crossed the R3bn mark for the first time in its 2022 financial year as more apartments were handed over to tenants and selling prices increased.
CEO Steve Brookes said in a statement on Monday he considers breaking through the R3bn-barrier is a “huge achievement” and believes Balwin is “well positioned despite increasing headwinds and a rising interest rate cycle, with 2,386 apartments forward sold and continued strong demand for our brand, supported by online sales”...
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