Calgro M3 expands affordable housing offerings in Johannesburg
What happened
Calgro M3 is expanding its affordable housing offerings at Fleurhof in Johannesburg, providing bachelor, one-bedroom, and two-bedroom units starting from R399,000. The company also has a pipeline of 5,100 homes planned for Fleurhof and Jabulani. Despite this expansion, the residential development business recorded a slight dip in revenue in the six months to August, while headline earnings per share fell 4.67% to 78.99c.
From businessday.co.za
Why it matters
The residential development business, which accounts for nearly 90% of Calgro M3's revenue, is responding to subdued demand by tying construction more closely to sales. The company noted that 55% of its 1,418 residential units are already under construction or sold to rental investors through guaranteed off-take agreements.
From businessday.co.za
Who's involved
- JohannesburgThe location where Calgro M3 is expanding its affordable housing options.
Keep exploring
The entities involved
-
Johannesburg
largest city in South Africa
Related events
- The City of Johannesburg provides housing services in Dube, an area located within Soweto.
- Market correction affects local economic focus in Johannesburg, involving Nasdaq and Herman Mashaba.
- South African election outcomes are influencing the sentiment surrounding the USD/ZAR exchange rate.
- On September 14, 2026, it was noted that Johannesburg holds the status of one of the busiest offices within South Africa.
- Muhammadu Buhari spoke to the Nigerian community in Johannesburg on November 2, 2026.