Latest news with #BalwinProperties
The Citizen
08-07-2025
- Business
- The Citizen
R517m Garstfontein Road upgrades hit 15% progress mark
The half-a-billion rand upgrade of the K50 Garstfontein Road is seen as a key enabler for the Mooikloof Mega City development, a strategic integrated project led by the national government and Balwin Properties. With a total budget exceeding R517-million, the K50 project has reached 15% completion since construction began, and is progressing well, according to the Gauteng Department of Roads and Transport. The upgrade of one of Pretoria east's busiest roads is expected to unlock and integrate major economic nodes in the region. Spokesperson for the MEC of Roads and Transport Lesiba Mpya, said the conversion of Garstfontein Road into a double carriageway is critical to support the Mooikloof Mega City development. Mooikloof Mega City is located off Garstfontein Road and a few kilometres from the junction with De Ville Bois Mareuil Drive, where Woodlands Boulevard Mall is located. It is also not far from Solomon Mahlangu Drive, which gives access to the N4 and other main arterial routes. The development is set to become South Africa's largest sectional title housing development. 'As the development grows, it's essential that the supporting infrastructure keeps up with the demand,' Mpya said. 'These K50 upgrades are vital to accommodate the area's expected population growth and to promote economic activity.' He said the completion of the upgrades is set for July 20, 2027, and the project is aimed at enhancing mobility, improving traffic flow, and connecting key development areas across eastern Tshwane. As the Mega City development grows into the large sectional title housing project, upgrading surrounding infrastructure has become essential. The upgrades are essential to accommodate the area's growing population and support economic activity. The project is expected to enhance mobility, drive regional development, and connect key economic zones across the eastern parts of Tshwane. Mpya said so far (the end of April this year), R48.73-million has been spent on the project. 'Monthly progress and costs are being measured continuously. While the construction schedule remains intact, the project has faced a few challenges,' he said. He explained that the project had challenges related to the safe relocation of underground services, as well as temporary work stoppages caused by community members demanding subcontracting opportunities, and traffic congestion in the construction zone. He added that despite the presence of safety signage, traffic barriers, and a 40km/h speed limit, some motorists continue to speed, placing both workers and fellow drivers at risk. 'We urge drivers to respect the speed limit and exercise caution, especially in active construction zones,' Mpya said. He added that the upgrade of Garstfontein Road, which links Menlyn node to the Garsfontein and Woodlands development zones and connects with the N1 freeway, is critical for enhancing traffic flow and promoting economic activity. 'This stretch of road runs through several important suburbs including Ashlea Gardens, Menlyn, Newlands, Waterkloof Glen, Constantia Park, Garsfontein, and Moreleta Park, ending in Alphen Park.' He said the recent addition of a new interchange by Sanral between the N1 and Garstfontein Road has further increased traffic volumes, making the upgrade even more urgent. 'The Garsfontein upgrade aligns with the city's spatial Development Framework and Spatial Planning and Land Use Management Act directives to promote inclusive urban growth.' According to Mpya, the project is still well on track. 'The project officially commenced on November 28, 2024, with site handover to the contractor taking place on January 21. As of June 2025, the project has reached 15% completion and remains on track to meet its 30-month timeline, with a completion date set for July 2027. 'Since the start of the project, we've completed full site establishment and clearing,' he said. He added that relocating bulk services, including water lines, electricity cables, fibre, and sewage systems, is also ongoing. 'There's steady progress on the installation of stormwater drainage, box-cutting for the new lanes, and preparation of the roadbeds. In some sections, layer works have already started, and structural widening of the Constantia Spruit bridge is currently underway,' he explained. He said the construction period was optimised from the start and is currently on track. 'At this stage, there are no plans to fast-track any section as it would have cost implications,' he said. According to metro spokesperson Lindela Mashigo, the project is aligned with the provincial goal of delivering an efficient, integrated and sustainable road network. 'The upgrade will directly align with the province's vision of creating a modern, integrated, efficient and sustainable transport and road infrastructure system in Gauteng,' he said. Mashigo said the Garstfontein Road upgrade is not only a significant financial investment but also a crucial step toward future-proofing the metro's infrastructure, reducing congestion, and creating a more equitable city for all its residents. Do you have more information about the story? Please send us an email to [email protected] or phone us on 083 625 4114. For free breaking and community news, visit Rekord's websites: Rekord East For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram or TikTok. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
13-06-2025
- Business
- The Citizen
South Africa's premier padel club launches this September
Starting in September this year, Balwin Properties will launch one of the premier padel clubs in South Africa, named Balwin Padel Waterfall City. This announcement was made during a media briefing held at the Munyaka Lifestyle Estate Lagoon in Waterfall on June 13. Read more: Dr Mathole Motshekga Primary Schools learners exposed to padel in Glen Austin Padel enthusiast Sebastian Brokmann said, 'The club will feature five indoor courts. Our architecture team has been working on it for months, and we have also sourced the best courts possible, including MajorSet from Spain and two from Italy, from Mondo. Our goal is to provide players with the best possible experience.' Also read: Young Kyalami canoeist gets SA team call-up after victory at Gauteng Canoe Union Sprint Championships Brokmann emphasised that padel is the fastest-growing sport in the world, and its popularity is also surging in South Africa. 'There are now over 1 200 courts and 388 clubs in South Africa, and it's exciting to see how the sport is growing. Padel is unique in that it connects people of all ages more than any other sport.' Follow us on our Whatsapp channel, Facebook, X, Instagram and TikTok for the latest updates and inspiration! Have a story idea? We'd love to hear from you – join our WhatsApp group and share your thoughts! Related article: Midrand canoe couple comes fourth At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
12-05-2025
- Business
- IOL News
Balwin Properties reports significant uptick in apartment sales as interest rates decline
Balwin Properties' De-Aanzicht Milnerton, Cape Town. The group delivered a strong rebound in sales and financial performance in the second half of its financial year to February 28, 2025. Image: supplied Balwin Properties, a prominent developer known for its environmentally efficient and affordable apartment estates, has announced a remarkable rebound in property sales during the latter half of its financial year. Following the commencement of a new interest rate cutting cycle, which has seen rates reduced by a total of 75 basis points since September 2024, the company reported substantial improvements in trading conditions. In the six-month period leading up to February 28, the company recognised revenue from the sale of 1 109 apartments, a significant increase of 73% compared to just 640 units sold in the first half. Additionally, pre-sales surged, with 814 apartments being contracted for future financial periods, up from 520 the previous year. Group CEO Steve Brookes attributed this increase to heightened buyer interest driven by the easing of interest rates. 'The year under review was a tale of two halves, with a strong recovery in profitability in the second six months of the year, supported by ongoing cost-saving initiatives and a strong performance from the Balwin Annuity,' Brookes commented. Despite this positive trajectory, while the interest rate relief was a welcome development, it fell short of expectations, and further interest rate cuts were anticipated for the new financial year. The company's monthly average gross sales rate surged by about 30% since the start of the interest rate cuts, positioning Balwin to expedite construction activities as market conditions improve. Even amidst a challenging economic landscape, Balwin reported an 8% increase in taxed profit to R234 million, with group revenue standing at R2.2 billion—a 6% decline from the previous year, reflecting ongoing pressures in the residential property market. The anticipation surrounding the Government of National Unity formed in June 2024 was overshadowed by political uncertainty, amplified by global economic volatility. Nevertheless, earnings per share experienced a modest increase, rising to 49.74 cents, while headline earnings per share slipped 4% to 45.95 cents. To adapt to the challenging market conditions, Balwin implemented measures to align construction rates with sales, which included better cost engineering, ongoing marketing, and incentives, as well as strict control over operating costs, which remained steady at R351m. The company's gross margin did improve to 30% from 28%, buoyed by contributions from its annuity businesses. Focusing on regional performance, Gauteng emerged as the largest contributor to revenue with 856 apartments recognised, while the Western Cape demonstrated strong demand, with 801 apartments contributing to the sales figures—an impressive 99% of market offerings in the area were recognised in revenue. Despite a subdued performance in KwaZulu-Natal due to planning delays, management expressed optimism for future improvement as progress is made on these challenges. Balwin's directors expect further interest rate cuts will likely stimulate a gradual recovery in the residential property sector. The company is committed to maintaining operational and development cost containment strategies to bolster profit margins and maximise returns on invested capital. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ With a robust pipeline of about 36 000 apartments slated for development over the next 12 years across major metropolitan nodes, Balwin'sdirector said the group is poised to emerge more efficient and focused, optimising operational processes for improved profitability.
IOL News
12-05-2025
- Business
- IOL News
Exploring the surge of co-living spaces and micro-apartments in South Africa's major cities
During the six months leading up to August 2024, Balwin Properties, an apartment developer, encountered difficult trading conditions within the residential property market as a result of high interest rates. Image: Supplied Is the rapid rise of co-living spaces and micro-apartments in Johannesburg, Cape Town and Durban an innovative urban adaptation, or merely a symptom of the country's broken economy? Yael Geffen, CEO of Lew Geffen Sotheby's International Realty, poses this question. This is as developers are aggressively repurposing underutilised buildings into shared living hubs where tenants trade private space for affordability and community. In Cape Town's Woodstock and Johannesburg's Braamfontein, companies like The Student Hub and CoLiv report waiting lists for their R6 500 to R8 000 per month rooms that include servicing and WiFi. Geffen said this is a necessary market correction right now when consumers are drowning in debt, and the vast majority are battling to keep their heads above water. 'For most young professionals, buying a home is an impossible dream at the moment, with the cost of living remaining so high. They're even being priced out of conventional rentals, but they still need proximity to urban work hubs. Co-living fills that gap intelligently by optimising space and reducing costs through shared amenities,' Geffen said. Siphamandla Mkhwanazi, a senior economist, recently told this publication that a city like Pretoria occupies a unique position within the broader South African property sector. He said it benefits its status as the administrative capital, providing stability and a consistent demand for housing. He added others included a diverse economy, encompassing government, education, and research institutions, relatively more affordable/value for money property options compared to other major cities, attracting a range of buyers and renters and was also seeing a growth in the student rental market, due to the large amount of tertiary education institutions in the city. Lew Geffen Sotheby's International Realty said sub-30m² micro-units, never thought of in South Africa's historically spacious housing market, are now said to be selling out in developments like Cape Town's 1 on Albert in Woodstock and Sandton's The Bryant. Prices start at 20% below standard studios, appealing to singles who prioritise location over square metres. Geffen said the success of micro-apartments proves that in the current economic climate, affordability trumps size for many buyers. 'But developers must innovate-think modular furniture, premium finishes, and tech integration-to avoid these feeling like glorified hotel rooms." She says Cape Town's developments tend to be the most successful in the country at the moment, because the market thrives on scarcity. 'Developers convert heritage buildings into chic spaces, achieving an average of 22% gross margins - nearly double Johannesburg's conversions.' Others are new developments like 1 on Albert, offering semi-furnished micro-apartments starting at 21m² that include 24 hour security & CCTV surveillance, biometric access controls, a heated swimming pool, communal recreation area with braai facilities and super-fast internet connectivity. Prices at this state-of-the-art development that is less than 2km from the CBD begin at below R1 million. Despite the buzz, challenges loom, warned Geffen. These include investor scepticism as banks remain hesitant to finance micro-developments, seeing them as untested. Cultural resistance as many South Africans still view compact living as a downgrade and oversupply risks as Durban's Umhlanga corridor already shows signs of co-living saturation. 'The danger is that we mistake a stopgap solution for a cure. Co-living can't replace the need for broader housing reform, including faster planning approvals and incentives for mid-income developments.' Geffen said industry leaders are split on whether this trend will last. While some predict co-living will grow to 15% of South Africa's urban rental market by 2030, others argue it is merely delaying a reckoning with unaffordability. 'The real test is whether these models can evolve beyond student and young professional niches to serve families and older demographics. That's when we'll know if this is truly transformative or just a Band-Aid,' added Geffen Geffen noted key market questions going forward include whether local government entities will relax density restrictions in a greater number of suburbs to enable more micro developments, whether these developments will be the turning point for inner city decay and whether more relaxed density zoning in wider areas will make it more affordable for buyers to get onto the property ladder. 'South Africa's housing crisis won't be solved by one solution alone. 'This trend isn't a total fix, but for now, co-living and micro-apartments are to some extent rewriting the rules of urban residential design and offering a solution to younger professionals struggling to make ends meet with the immensely high cost of living in the country's stagnant economy,' Geffen said. Today's savvy buyers are said to be embracing starter homes like one or two bedrooms, a single bathroom, and enough room to live well without the stress of major upkeep. According to Jonathan Spencer from these homes typically range from 70m² to 116m², offering the perfect blend of comfort, affordability and personal style potential. 'Starter homes are the ideal launchpad for new homeowners. They tick all the essential boxes without overwhelming you financially. Plus, there's more room in your budget to create a space that really feels like you,' Spencer said. Independent Media Property
The Citizen
08-05-2025
- Entertainment
- The Citizen
Mayday, mayday, runners coming through!
Over 250 runners swapped a public holiday lie-in for a morning of active fun last Thursday. They did so as part of the May Day Dash, a community run organised by We Do Creative in aid of the Salt40 Foundation – a local NGO that focuses on youth upliftment through sport. Runners took on the same route used for the popular race which starts and ends at Hops Ballito on the first Sunday of every month. The route is a 5.6km loop which includes a good bit of hill training up Hillary Drive. The Hops run was recently rebranded as Rock Up & Run with new partner Balwin Properties, but the rest of the activities remain the same. 'It's the same format on the first Sunday of every month, starting at 7am, and runners get a free beer, wine or coffee at Hops afterwards,' said We Do Creative's Amanda Howard. 'We also do three fundraisers for Salt40 every year, the first of which was the May Day Dash. The next will be the Run Your Roots event on Heritage Day and Run Out 25 on New Year's Eve.' You can enter via – search Hops to find them. The first 200 entries at all the fundraising runs receive commemorative shirts. Stay in the loop with The North Coast Courier on Facebook, X, Instagram & YouTube for the latest news. Mobile users can join our WhatsApp Broadcast Service here or if you're on desktop, scan the QR code below. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
