JSE-listed specialist residential property developer Balwin Properties will list its shares for trade on the local A2X Markets bourse from February 28.
Balwin will be the first specialist residential property developer and the tenth company from the property sector to list on the A2X, joining Attacq, Equites Property Fund, Fairvest, Growthpoint Properties, Hyprop, MAS, NEPI Rockcastle, SA Corporate Real Estate and Stor-Age, said A2X.
Balwin will retain its primary listing on the JSE and its issued share capital will not be affected by its secondary listing on A2X.
“We are pleased to be complementing Balwin’s existing listing on the JSE with a secondary listing on A2X. This listing offers investors greater access to our shares and could potentially attract new investors through lower trading costs offered on the A2X platform,” Balwin CEO Steve Brookes said.
“Balwin is a dynamic residential property developer with a large and successful footprint across South Africa’s biggest cities and we are delighted to be welcoming them to our market next week,” said A2X CEO Kevin Brady.
Balwin’s listing will bring the number of instruments listed on A2X to 95, with a combined market capitalisation of R6.7-trillion.
Balwin has developed more than 100 000 apartments and is consistently contributing about 3 000 new apartments to the domestic market a year. It has a portfolio of almost 100 residential apartment developments developed in line with international Green Building Standards. Balwin has a pipeline of opportunities nationwide and is currently developing in Gauteng, the Western Cape and KwaZulu-Natal.
Further, the secondary listing comes on the eve of the launch of Balwin’s R10-billion Munyaka development in Waterfall, Midrand, which brings beachside living to Johannesburg with a 3 ha Crystal Lagoon waterfront.
The gated development is expected to be completed in 2028, and will comprise 5 178 one-, two- and three-bedroom apartments, some of which are lagoon- and beach-facing. Balwin will offer classic apartments and lifestyle apartments, and two ultra-luxurious penthouse apartments have been constructed above the lifestyle centre, offering views of the lagoon and the city skyline.
All apartments are fibre-ready, and include a Scandinavian-style kitchen, eco-friendly appliances, a balcony for outdoor entertainment and prepaid water and electricity meters, Balwin said.