Calgro focuses on giant Sandton affordable housing project - after ditching KZN over mafias | Business

📆 15/5/2566 23:45:00
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Calgro M3 says it no longer has exposure to KwaZulu-Natal owing to the construction mafia that put its employees and assets at risk. | News24_Business

Calgro M3

Affordable housing developer Calgro M3 has essentially now left KwaZulu-Natal amid concerns over the construction mafia. As recently as 2020, 13% of its portfolio was located in the province. But last year, the group announced it was trying to"trade out" of two projects it had already started in Durban because of the notorious industry criminality in KZN.

Since then, a 365-unit development at Bridge City in KwaMashu has been sold, Calgro M3 CEO, Wikus Lategan, told News24.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

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