Trematon Investments, which is focused on the property and leisure markets in the Western Cape, expects the province’s real estate market to be subdued for as much as 18 months, as a number of new apartment buildings come on stream in the region.
The group reported on Monday that intrinsic net asset value per share rose 8% to R4.82 in the six months to end-February, representing a 38% discount to its share price. Independent analyst at Small Talk Daily Research, Anthony Clark, said Trematon’s portfolio may be less impressive than previously thought.
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