https://www.engineeringnews.co.za

Visual International lists on AltX

Visual International CEO Charles Robertson

Visual International CEO Charles Robertson

23rd May 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

Cape Town-based property development company Visual International on Friday listed on the JSE AltX, unlocking greater investor access to residential property in South Africa.

Visual listed on the AltX with a market capitalisation of R126.5-million and a net asset value of R70.7-million. The company’s long-term earnings a share growth was forecast at 19% a year.

“We are beginning to see a growing awareness of the benefits of listed residential property among the investment fraternity. Residential property as a subsector of the publicly traded property asset class has not been well recognised in South Africa, and is certainly nowhere near the levels in the US and Europe. But, we believe this is starting to change and Visual is at the forefront of this shift,” Visual CEO Charles Robertson said.

He stated that, having listed successfully, Visual was now completely focused on taking its business and its developments forward.

The company would continue with its model of developing mixed-use suburbs and building high-quality housing for the middle market on suitable land, near jobs and infrastructure, in strategic high-growth nodes.

“The middle-income market is an essential driver for the future of South Africa and encompasses huge potential. Its demand for housing far outstrips the supply. Our focus will remain strongly with this market,” Robertson said.

Visual currently owned more than 70 000 m2 of developable bulk at its 22 ha mixed-use Stellendale Village development in the northern suburbs of Cape Town.

Stellendale would ultimately provide some 1 500 homes to middle-income households when completed. Visual had already developed 440 homes in the village with a further 63 under construction.

Future phases of development would include 1 000 residential opportunities including an integrated retirement estate.

“By unlocking Visual’s pipeline of development with our AltX listing we are in a strong position to create long-term value for shareholders and all our stakeholders,” Robertson conlcuded.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.082 0.131s - 137pq - 2rq
Subscribe Now