Calgro M3 addresses South Africa's housing shortage through robust development pipeline

CALGRO M3’s robust development pipeline is helping to address South Africa’s serious housing shortage, but more needs to be done to lower the barriers to entry in the affordable housing sector, said the group CEO Ben Pierre Malherbe.

- EDWARD WEST

He was interviewed at the release on Monday of the integrated development and memorial park group's annual results for the year to February 28, which showed it had maintained profit margin growth, continued to expand in both business segments, and all in spite of revenue pressures and a decision to temporarily slow production in the first half.

The group had 36 000 residential opportunities secured at the end of the financial year, he said. The pipeline includes the newly acquired Bankenveld District City Development near Sandton, which will add in excess of 20 000 units to the group's pipeline.