Although lockdown has been immensely challenging for most sectors of the South African economy, Balwin Properties, the country’s leading real estate developers with a total of 6 projects signed with Crystal Lagoons®, has adapted to the new world scene by taking to online sales and other technologies.
The firm boasts an 11% increase in full-year revenue to February 2020 and hopes to continue securing sales in spite of the ongoing Coronavirus pandemic. This saw its share price rising 14% on the release of its latest results.
“Through online sales, we signed around 200 deals in April,” says Steve Brookes, Balwin Properties CEO and founder to prominent South African media outlet, Moneyweb.
“While the Covid-19 lockdown has had an impact, it has not stopped our business. We moved online and are doing about 60% of the sales that we achieve during a normal month.”
Successful track record
Given the sales success of The Blyde, the first Balwin Properties development to be anchored by a Crystal Lagoons amenity and a first for South Africa, the companies announced an exclusivity agreement for five additional projects, each to be anchored by these impressive bodies of clear turquoise water. These will be built in Johannesburg, Pretoria, Mbombela, KwaZulu-Natal and the Western Cape province.
Munyaka, the most luxurious of the projects, was praised by the nation’s president, Cyril Ramaphosa, who attended the launch of the development held at the beginning of 2020.
“The launch of Munyaka resulted in Balwin breaking all sales records. We achieved over 807 sales for the month and around 600 were related to Munyaka, which will be home to the largest man-made crystalline lagoon in the southern hemisphere, to be powered by Crystal Lagoons technology,” Brookes adds.
According to Brookes, the company’s 200 registered online sales in April, puts the group in a good position to whether the Covid-19 storm. He says the group has not seen a significant increase in cancellation of sales since the Covid-19 lockdown, which began at the end of March.