MD's Message - June 18
Category Newsletter: Message from MD
Dear Friends, Property Investors and Enthusiasts,
After handing over 370 residential homes within the past 2 months our next residential development to be completed is the 160 unit Kingsbury residential estate in Bergbron, Roodepoort. This will bring the total number of residential homes completed within the first six months of 2018 to an impressive 530! This remarkable feat was only made possible by the hard work of each and every person involved from the initial planning process, through to the construction of the homes and finally the professional team responsible for the handover and registration of the properties. I applaud each and every person involved with this process!
On a more sombre note the construction industry as a whole is feeling the pinch of the slow-down in the economy. During the past month Aveng, which only 10 years ago was South Africa’s largest construction firm, announced that they are proceeding with the rights offer to issue shares to the value of R1.8 billion. This is a desperate move to raise funds to pay off their massive debts. A number of other large construction firms have gone into liquidation as work becomes harder to find.
During these tough economic times it is of utmost importance to make the right decisions as a single incorrect decision may be the proverbial last straw to break the camel’s back!
Author: Nico Louw
