{"id":241783,"date":"2022-11-02T14:28:50","date_gmt":"2022-11-02T12:28:50","guid":{"rendered":"https:\/\/mypr.co.za\/?p=123986"},"modified":"2022-11-02T14:28:50","modified_gmt":"2022-11-02T12:28:50","slug":"semigration-to-the-coast-boosts-balwin-properties","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/semigration-to-the-coast-boosts-balwin-properties\/","title":{"rendered":"Semigration to the coast boosts Balwin Properties"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/semigration-to-the-coast-boosts-balwin-properties.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/semigration-to-the-coast-boosts-balwin-properties.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<p><span>Contributing to the group\u2019s 20% turnover improvement during the six-month period.<\/span><\/p>\n<p><span>By Akhona Matshoba 31 Oct 2022<\/span><\/p>\n<h3><b>Balwin Properties\u2019 newest development, Izinga Estate in Umhlanga, KwaZulu-Natal.<\/b><\/h3>\n<p><span>JSE-listed national residential developer Balwin Properties says increased interest in its <\/span><a href=\"https:\/\/balwin.co.za\/\"><span>Western Cape and KwaZulu-Natal (KZN) residential apartments<\/span><\/a><span> has propelled an uptick in sales for the&nbsp;<\/span><a href=\"https:\/\/www.moneyweb.co.za\/mny_sens\/balwin-properties-limited-unaudited-results-for-the-six-months-ended-31-august-2022-and-cash-dividend-declaration\/\"><span>half-year ended 31 August 2022<\/span><\/a><span>.<\/span><\/p>\n<p><span>Gauteng \u2013 although still leading \u2013 contributed 47% to the total revenue received from <\/span><a href=\"https:\/\/balwin.co.za\/\"><span>apartment sales<\/span><\/a><span> for the interim period. However, this declined significantly, with Gauteng accounting for 60% in the previous comparable period.<\/span><\/p>\n<p><span>Read:&nbsp;<\/span><a href=\"https:\/\/www.moneyweb.co.za\/news\/south-africa\/tshwane-challenges-eskoms-plans-to-supply-mooikloof-mega-city\/\"><span>Tshwane challenges Eskom\u2019s plans to supply Mooikloof Mega City<\/span><\/a><\/p>\n<p><span>Coastal regions on the other hand have in the period registered higher apartment sales, with the Western Cape contributing 32% to total revenue \u2013 up from 30% in the prior period. KZN\u2019s contribution more than doubled, from 10% for the comparable half-year to 21% of Balwin\u2019s total revenue from apartment sales for the latest half-year.<\/span><\/p>\n<p><span>This shift in sales contributions within key regions in the country can be attributed to an increased interest in semigration by property buyers, according to Balwin.<\/span><\/p>\n<p><span>\u201cDespite rising interest rates and a constrained economy, client demand for our apartments remained strong and sales recognised in revenue closed up 8% for the period, at 1 360 apartments. This was driven primarily by semigration to the Western Cape and our unique lifestyle offering with a focus on green living,\u201d Balwin CEO Steve Brookes says in a statement.<\/span><\/p>\n<p><span>\u201cWe are also encouraged by the 1 551 apartments forward sold, but not yet recognised in revenue, which will support growth in the next six months and beyond.\u201d<\/span><\/p>\n<p><b>Monday, October 31st<\/b><\/p>\n<p><span>Read:<\/span><\/p>\n<p><a href=\"https:\/\/www.moneyweb.co.za\/news\/companies-and-deals\/waterfall-city-developer-attacq-scores-top-b-bbee-rating\/\"><span>Waterfall City developer Attacq scores top B-BBEE rating<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.moneyweb.co.za\/news\/companies-and-deals\/balwin-properties-breaks-through-r3bn-revenue-mark\/\"><span>Balwin Properties breaks through R3bn revenue mark<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.moneyweb.co.za\/news\/companies-and-deals\/balwins-bee-deal-gets-green-light-at-agm\/\"><span>Balwin\u2019s BEE deal gets green light at AGM<\/span><\/a><\/p>\n<p><span>Balwin recorded a 20% jump in group revenue during the six-month period to R1.6 billion, up from R1.3 billion, while profit increased by 48% to R173 million, driven by higher sales volumes of apartments handed over and improved profit margins.<\/span><\/p>\n<p><span>Earnings per share came in 48% stronger at 36.88 cents during this period, while headline earnings per share (Heps) grew 47%, to 36.63 cents. The group\u2019s net asset value per share increased to 771.39 cents, higher than the 692 cents reported in the prior comparable period.<\/span><\/p>\n<p><span>Focused cost-containment measures, together with robust pricing on the sale of early-phase apartments, drove the 2% improvement in gross profit margins to 26%. Balwin also reported a strong cash position of R581.2 million at the end of the half-year.<\/span><\/p>\n<p><b>Spike in building costs<\/b><\/p>\n<p><span>\u201cOur strategy of reducing the yield curve between the first and last phases of a development is gaining traction and is especially noteworthy on the back of the high-cost increases in the construction industry during the period,\u201d Brookes adds.<\/span><\/p>\n<p><span>\u201cDemand for our <\/span><a href=\"https:\/\/balwin.co.za\/\"><span>apartments<\/span><\/a><span> allowed for some elasticity in selling prices; however, the team put in a huge effort to limit cost increases through effective cost engineering and concentrated cost containment, supported by our in-house procurement department.\u201d \u201cAt the same time, we worked closely with our architects on creative design modifications and specifications to reduce costs, without compromising on the quality and world-leading environmental standards associated with the Balwin brand,\u201d he adds.<\/span><\/p>\n<p><span>This post was first published at https:\/\/www.moneyweb.co.za\/investing\/property\/semigration-to-the-coast-boosts-balwin-properties\/<\/span><\/p>\n<p><span>For more information about Balwin\u2019s <\/span><a href=\"https:\/\/balwin.co.za\/development-location\/cape-town-apartments-for-sale\/\"><span>apartments for sale<\/span><\/a><span> and <\/span><a href=\"https:\/\/balwin.co.za\/development-location\/kzn-property-for-sale\/\"><span>property for sale<\/span><\/a><span>, please visit <\/span><a href=\"https:\/\/balwin.co.za\/\"><span>https:\/\/balwin.co.za\/<\/span><\/a><\/p>\n<p><span>This article was first published at https:\/\/topclickblogs.co.za\/semigration-to-the-coast-boosts-balwin-properties\/<\/span><\/p>\n<p><a href=\"https:\/\/mypr.co.za\/?attachment_id=123987\"><img loading=\"lazy\" decoding=\"async\" alt width=\"800\" height=\"628\" class=\"aligncenter wp-image-123987 size-full lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/semigration-to-the-coast-boosts-balwin-properties.jpg\"><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-123987 size-full\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/semigration-to-the-coast-boosts-balwin-properties.jpg\" alt width=\"800\" height=\"628\"><br \/><strong>Video:<\/strong> Semigration to the coast boosts Balwin Properties<\/p>\n<p><strong>More Info on Semigration to the coast boosts Balwin Properties here:<\/strong> <a href=\"https:\/\/topclickblogs.co.za\/semigration-to-the-coast-boosts-balwin-properties\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/topclickblogs.co.za\/semigration-to-the-coast-boosts-balwin-properties\/<\/a><br \/><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/topclickmediasa\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/twitter.com\/topclickmediasa<\/a><br \/><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/topclickmediaSA\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.facebook.com\/topclickmediaSA\/<\/a><\/p>\n<p><a href=\"http:\/\/mypr.co.za\/save-with-myprs-monthly-flat-fee\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<p> <span class=\"post-views-icon dashicons dashicons-chart-bar\"><\/span> <span class=\"post-views-label\">Press Release Views since 1 July 2022:<\/span> <span class=\"post-views-count\">51<\/span> <\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/semigration-to-the-coast-boosts-balwin-properties\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. Contributing to the group\u2019s 20% turnover improvement during the six-month period. By Akhona Matshoba 31 Oct 2022 Balwin Properties\u2019 newest development, Izinga Estate in Umhlanga, KwaZulu-Natal. JSE-listed national residential developer Balwin Properties says increased interest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":241784,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9021,1],"tags":[3257],"class_list":{"0":"post-241783","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mypr","8":"category-south-africa","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/semigration-to-the-coast-boosts-balwin-properties.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/241783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=241783"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/241783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/241784"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=241783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=241783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=241783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}