Home » South African businessman Stephen Brookes loses $4.5 million in Balwin stake

South African businessman Stephen Brookes loses $4.5 million in Balwin stake

Brookes' stake in Balwin Properties slumps amid market downturn

by Omokolade Ajayi
Stephen Brookes

South African real estate tycoon Stephen Brookes, renowned for his prominence in the African real estate sector, has suffered losses amounting to over $4.5 million from his stake in Johannesburg-based property developer Balwin Properties.

Following a period of notable gains between November 2023 and January 2024, Brookes has experienced a sudden plunge in his stake as shares in Balwin Properties tumbled amid recent selling pressures among investors.

Recent market data reveals a substantial decline in the market value of Brookes’ stake in Balwin Properties, amounting to R85.2 million ($4.55 million) since Jan. 31. This mirrors a 20.8-percent drop in Balwin Properties’ share price on the Johannesburg Stock Exchange (JSE) — sliding from R2.4 ($0.128) to R1.90 ($0.1015) at the time of drafting this report.

Stephen Brookes’ stake in Balwin Properties slumps amid market downturn

Balwin Properties, renowned for its large-scale estates tailored to South Africa’s low-to-middle-income population, prides itself on offering affordable and environmentally efficient apartments with innovative lifestyle amenities for residents.

Founded by Brookes in 1996, Balwin Properties has established itself as a significant player in the South African real estate landscape, with Brookes holding a controlling stake of 36.08 percent in the company, equivalent to a total of 170,374,031 shares.

The recent downturn in Balwin Properties’ share price has impacted shareholder value and led to substantial losses for Stephen Brookes. Since Jan. 31, the market value of Brookes’ stake in Balwin Properties has declined by R85.2 million ($4.55 million), decreasing from R408.9 million ($21.84 million) to R323.71 million ($17.29 million).

JSE investors capitalize on Balwin Properties’ double-digit returns amid economic turbulence

Investors on the JSE are cashing in gains after seeing Balwin Properties deliver double-digit percentage returns from November 2023 to January 2024. The recent sell-off highlights the volatile nature of the real estate market, especially amid wider economic uncertainties that have led to a notable drop in the value of real estate assets.

Despite this setback, Stephen Brookes remains a prominent figure in South Africa’s real estate sector, with his influence and investments extending beyond Balwin Properties. As the market continues to fluctuate, stakeholders will keenly monitor developments within Balwin Properties and the broader real estate industry in South Africa.

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