South African property magnate Stephen Brookes’ stake in Balwin Properties has decreased by $2 million in the last two weeks, mirroring a dip in the Johannesburg-based developer’s share price on the JSE.
Brookes’ stake in the Johannesburg-based developer has decreased by R37.48 million ($2.01 million) as Balwin Properties shares tumble on the Johannesburg Stock Exchange (JSE).
Balwin Properties, known for its large-scale estates designed for South Africa’s low-to-middle-income people, takes pleasure in providing inexpensive and environmentally friendly apartments with innovative lifestyle amenities to residents.
Stephen Brookes, a real estate entrepreneur, founded Balwin Properties in 1996. He currently holds a controlling 36.08 percent stake in the Johannesburg-based firm, which equates to 170,374,031 ordinary shares.
Balwin Properties’ shares on the JSE have declined by 11.58 percent in two weeks, from R1.9 ($0.1018) on March 20 to R1.68 ($0.0900) as of this report.
Brookes’ investment in Balwin Properties has dropped by R37.48 million ($2.01 million) in the last two weeks as a result of the recent share slump, from R323.71 million ($17.34 million) to R286.23 million ($15.33 million).
Despite the recent downturn, Stephen Brookes remains a key figure in the South African real estate industry, with his influence and interests extending beyond Balwin Properties. He maintains his position as one of the most respected investors on the JSE.
