Table of Contents
Key Points
- Balwin Properties’ stock jumps 11.82% in two weeks, boosting Stephen Brookes’ stake by $2.46 million to over $23 million.
- Balwin's market cap surpasses $60 million as demand grows for affordable, eco-efficient apartments in South Africa.
- Year-to-date, Balwin shares up 13.36% on the JSE; a $100,000 investment now worth $113,360.
South African real estate tycoon, Stephen Brookes, has seen his wealth rise by more than $2 million, thanks to a strong rally in the share price of Balwin Properties.
Brookes, the founder of Balwin Properties, holds 171,751,457 shares, or a 33.07-percent stake in the innovative property development. Over the past two weeks, his stake has increased by R44.66 million ($2.46 million).
This follows earlier gains of $2.53 million between Oct. 3 and Nov. 1, when his holdings rose from R357.24 million ($20.21 million) to R401.89 million ($22.73 million).
Balwin stock climbs, Brookes’ stake now worth over $23 million
Balwin Properties, founded in 1996, known for its large-scale estates catering to South Africa’s low-to-middle-income population, prides itself on providing affordable and environmentally efficient apartments with innovative lifestyle offerings for residents.
Over the past 14 days, the company’s stock price has risen 11.82 percent, from R2.2 ($0.12) on Nov. 6 to R2.46 ($0.13). This boost has lifted the Balwin’s market cap to over $60 million, delivering strong gains to shareholders, including Stephen Brookes.
This increased the market value of Brookes’ stake from R377.85 million ($20.86 million) to R422.51 million ($23.32 million)— a gain of R44.66 million ($2.46 million) in just 14 days.
Your Money and Your Life
Balwin Properties' shares have delivered solid returns this year, increasing 13.36 percent year-to-date on the Johannesburg Stock Exchange (JSE) coupled with the strengthening of the Rand against the dollar.
A $100,000 investment in Balwin shares at the start of the year is now worth $113,360, a $13,360 gain.
