Calgro M3 rental business hits a wall

Affordable-housing developer Calgro M3 is ending its joint venture with one of the partners in its rental business, but CEO Wikus Lategan says this won’t derail the company’s growth plans.

The site invasions at the joint venture’s Scottsdene development in the Western Cape and the struggle to attract tenants at South Hills in Johannesburg also exacerbated its challenges. These made it harder to sign up tenants, resulting in the companies’ not meeting their income yields target. SA Corporate, which is a real estate investment trust , had control of the consortium. In terms of the income tax act, the joint venture is entitled to the tax benefits of being a Reit. This means the venture must pay at least 75% of its income out as dividends.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK OP-ED: Business schools are SA’s natural partner in the Fourth Industrial RevolutionSouth Africa is playing catch-up, and while it might aspire to become a leading light in the evolving global developments, realistically, the Presidential Commission on the Fourth Industrial Revolution has set its sights on achieving competitiveness and the need for inclusive growth. No
Source: dailymaverick - 🏆 3. / 84 Read more »

BOOK REVIEW: FT’s business books of the monthFrom blockchain to the important small decisions — a round-up of this month’s top titles
Source: BDliveSA - 🏆 12. / 63 Read more »