Balwin Properties CEO: Now is a good time to buy, here’s why

Balwin Properties, a leading property company, has followed suit with other industry players by refraining from declaring a full year dividend amidst the ongoing uncertainties surrounding the global Covid-19 crisis. Despite this, the group reported an impressive 11% increase in revenue, although profits and headline earnings per share saw a slight decline of 9% and 8% respectively. In a recent interview with CNBC Africa, the CEO of Balwin Properties, Steve Brookes, shed light on the company's current performance and future strategies. Brookes addressed concerns raised by analysts regarding the company's undervalued share price, emphasizing the strength of Balwin Properties as a fundamentally sound organization. He highlighted the company's successful foray into integrated properties, which he believes will bolster its resilience in the market amidst the current challenges. While the decision to defer dividends was attributed to the uncertainty surrounding Covid-19, Brookes expressed confidence in the company's financial position and its ability to navigate the crisis. He acknowledged the impact of the lockdown on sales but noted the significant online sales achieved by the company, particularly in April. Looking ahead, Brookes discussed the potential benefits of an interest rate cut and emphasized the opportune moment for prospective buyers to enter the property market. He outlined Balwin Properties' strategic approach, focusing on client education, integrated living concepts, and affordable housing solutions. Brookes underscored the company's commitment to creating homeownership opportunities for previously disadvantaged individuals and highlighted the supportive government infrastructure investments that align with Balwin Properties' development objectives. Additionally, Brookes addressed the company's expansion into the fiber business, citing the commitment to quality and the essential role of fiber connectivity in modern properties. Despite the challenges posed by the current economic climate, Brookes expressed confidence in the company's ability to adapt and innovate to meet the evolving needs of the market. He credited the company's dedicated management team and board of directors for their strategic leadership and emphasized the importance of a collaborative and proudly South African approach to driving growth and success for Balwin Properties.