Calgro M3 makes a play for the affordable housing market

Despite local property markets grappling with subdued economic activity and high interest rates, in the year to end-February JSE-listed Calgro M3 declared its maiden dividend ( as it reported record earnings, bolstered by residential property sales — a contrast from its traditional public sector social housing and student accommodation cash cows.

Business Day spoke with Calgro CEO Wikus Lategan, who is bullish about the next phase of growth through its memorial parks division, while it aggressively targets the under R500,000 housing market, which he believes is vastly underserved in SA, with demand expected to continue growing…

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