Latest News

Jacques Du Toit Absa Hoam Loans
November 16, 2017

Residential building activity contracted in the first three quarters of 2017

in Construction, Energy and Infrastructure
The first three quarters of 2017 saw building activity in the South African market for new private sector-financed housing (see explanatory notes) contracting in both the planning and construction phases compared with the corresponding period last year, based on data released by Statistics South…
Development Programme for emerging contractors begins
November 16, 2017

Development programme for emerging contractors begins

in Construction, Energy and Infrastructure
This week, 55 small Western Cape construction business owners began the 10-month Department of Transport and Public Works (DTPW) Contractor Development Programme (CDP) training.
StorTown
November 16, 2017

Stor-Age Property REIT concludes StorTown acquisition expanding KZN footprint

in Listed Property, REIT, Real Estate Funds
Stor-Age has expanded their portfolio by having now concluded the acquisition of StorTown, KwaZulu-Natal’s largest self storage facility, from the DanCor Properties Group.
Tibani
Nov 15, 2017

Introducing Tibani Shopping Centre

After the very successful opening of Steilloop Shopping centre in November 2016 GMI Property group started the…
Sky City Mall Front view
Nov 15, 2017

The Hub of The Mega Sky City development

GMI Property Group (GMI), in collaboration with Cosmopolitan Projects, are pleased to announce the realisation of Sky…
Alon Kirkel COO
Nov 15, 2017

Gemgrow Properties delivers solid maiden full year results

Gemgrow Properties, a specialist high yielding, high growth REIT listed on the JSE, today released solid maiden full…

Popular

Women Property Network announces winners in 2017 SA women in Property Awards

Oct 19, 2017
WPN2017 Awards
At a glittering event held at the Polo Room, Inanda Club last night, the Women’s Property Network (WPN) celebrated the…

Increase productivity at work: just add air, sunlight, and water

Oct 23, 2017
Nigel Oseland
Only 53% of wage earners think their place of work helps their productivity.

Emira Property Fund's R200m Rosebank office-to-residential conversion meets a…

Oct 26, 2017
Emira The Bolton residential development perspective
Emira Property Fund’s value-enhancing conversion of its Rosebank office property assets formerly occupied by Sasol into…

Sky City Mall: The hub of the mega Sky City development

Nov 03, 2017
Sky City Mall Front view
GMI Property Group (GMI), in collaboration with Cosmopolitan Projects are pleased to announce the realisation of Sky…

The ageing groups of home owners remain a force to be reckoned with in tougher…

Oct 19, 2017
John LoosFNB
The 3rd Quarter 2017 FNB Estate Agent Survey continued to point strength in levels of those sellers believed to be…

Intu Properties PLC and LaSalle Investment Management announce creation of a 50/50…

Nov 02, 2017
INTU Chapelfield
Intu Properties PLC (‘intu’) and LaSalle Investment Management (‘LaSalle’) acting on behalf of Greater Manchester…

Featured

  • Mall@Carnival introduces new retail and entertainment concepts

    Mall@Carnival introduces new retail and entertainment concepts

  • Introducing Tibani Shopping Centre

    Introducing Tibani Shopping Centre

  • The Hub of The Mega Sky City development

    The Hub of The Mega Sky City development

  • 1
  • 2
  • 3

Featured Profiles

  • Mall@Carnival introduces new retail and entertainment concepts

    Mall@Carnival introduces new retail and entertainment concepts

  • Introducing Tibani Shopping Centre

    Introducing Tibani Shopping Centre

  • The Hub of The Mega Sky City development

    The Hub of The Mega Sky City development

  • 1
  • 2
  • 3

Company Profile

Fieldspace Property Group

Fieldspace Property Group

Fieldspace Property Group is an amalgamation of property owners and managers who have merged to establish one strong brand equipped for growth.

Property Leader

Mohamed Shaheen Ebrahim

Mohamed Shaheen Ebrahim

Mohamed Shaheen Ebrahim is the Chairman of Oasis Group Holdings (Pty) Limited. since 2001.
Saturday, 25 January 2014 01:48

Property Developer, Visual International to list on the JSE Altx

Written by
Rate this item
(0 votes)

Property developer Visual International Holdings is expected to list on AltX on March 28.

Charles Robertson

Visual International Holdings will provide a unique opportunity for investors to share the benefits of an investment in developing mixed-use residential suburbs for the middle-income market – conceivably the fastest growing residential property market segment in South Africa.

Established in 1993, Visual International is a South African property development company that develops mixed-use residential suburbs for the middle-income market.

With its decade-long track record, it had grown its assets to around R126,5 million. Its net asset value is around R60 million, and spans some 80,000sqm of developable bulk that is ultimately expected to produce real estate investment of around R2 billion

The AltX, or alternative exchange, is a division of the JSE and a parallel market focused on good quality small-and medium-sized high-growth companies. It provides these companies with a clear growth path and access to capital, while giving investors fresh, exciting opportunities and the prospect of investing in a growing business.

And this is precisely the reason Visual International is headed for an AltX listing next month.

Visual International intends to raise R33 million prior to listing on the AltX, through the issue of 66,000,000 new shares at R0.50 per share.

This will unlock the next chapter of its growth path, with the capital raised applied to fast-tracking its residential development plans at its flagship Stellendale Village over the next two years.

The award-winning Stellendale Village development is a 22 hectare mixed-use residential suburb just off the Stellenbosch Arterial in Kuils River, Cape Town, which will ultimately provide some 1,500 homes to middle-income households when completed. Visual International has already developed 440 homes at Stellendale Village, with a further 63 under construction, and plans to unlock further phases of development at Stellendale Village, including its integrated retirement estate. It will also acquire about 15% of the apartments in the precinct and make them available to rent.

The upshot of all this is a two-year long-term earnings per share growth forecast of 33,5% for Visual International. Being a long-term play focused on capital growth, Visual International plans to reinvest all profits for its first five years after listing without paying dividends.

It will introduce dividends thereafter. "We've set our sights on a JSE main board listing at the right time," says Charles Robertson, Visual International founder and managing director.

And Visual International's potential for growth, by unlocking middle market residential opportunities, is extraordinary.

"Demand for quality housing from the growing middle-income market in South Africa is strong. Our model of developing mixed-use suburbs on suitable land near jobs and infrastructure, meets this demand. Right now, we are selling units at Stellendale Village faster than we are able to develop them," explains Robertson.

"Listing Visual International will provide the capital needed to pick up the pace of development, as well as reproduce our successful model in other high-growth nodes around South Africa."

Visual International develops homes for the South Africa's growing middle-income bracket, priced from R400,000 to R700,000. "Historically, South Africa consisted of 'haves' and 'have-nots' but in recent years a new, growing middle market has emerged and will continue to develop even further," says Robertson.

"This market is driving performance in many sectors of the economy and the success of businesses like Shoprite and Pep. It is also supporting higher car sales figures and growing numbers of restaurant and fast food outlets.

However, middle-income people are poorly served with suitable residential opportunities and are in need of quality apartments and homes to live in."

This is the important need that Stellendale Village is meeting and why Visual International sees excellent prospects for its business model, not only in the Western Cape, but also in Gauteng.

According to South Africa's latest population statistics, both provinces are showing higher population growth than the national average and other South African provinces.

The new shares to be issued in Visual International's capital raising equate to 26% of the shares in the company, with 74% held by its executive team and a Kuils River empowerment initiative they have established. This aligns management interests strongly with those of investors.

Visual International is led by a skilled and experienced executive team with more than 70 years of combined experience in all aspects of the property development sector. Robertson is a property developer with 30 years experience, including projects like N1 City.

Projects Director Peter Grobbelaar has extensive experience in both the construction and property development industries, including the V&A Waterfront Marina Residential Development and High Cape. Financial Director Grant Noble has extensive experience in financial management and administration of private security estates.

Their outlook for residential property for the middle market is undoubtedly positive. "We're seeing renewed interest in residential property in South Africa and potential for good strong capital growth.

Many residential developers fell victim to the effects of the global economic crisis and there have been few new builds in recent years and many abandoned projects. As recovery steadily enters the marketplace, we see many opportunities for more developments like Stellendale Village and joint ventures."

Visual International has already secured a pipeline of future developments and is establishing strategic development partnerships in Gauteng.

Last modified on Tuesday, 11 March 2014 18:16

Listed Property, REIT, Real Estate Funds

StorTown

Stor-Age Property REIT concludes StorTown acquisition expanding KZN footprint

November 16, 2017 Listed Property, REIT, Real Estate Funds eProperty News
Stor-Age has expanded their portfolio by having now concluded the acquisition of StorTown, KwaZulu-Natal’s largest self storage facility, from the DanCor Properties Group.

Office, Retail, Industrial, Hotels and Residential

Tibani

Introducing Tibani Shopping Centre

November 15, 2017 Office, Retail, Industrial, Hotels and Residential eProperty News
After the very successful opening of Steilloop Shopping centre in November 2016 GMI Property group started the construction of Tibani Shopping Centre in October 2017, to open in August 2018.

Green Building and Sustainability

G Eco food waste composting machine

Growthpoint launches a new green waste-to-soil initiative

November 02, 2017 Green Building and Sustainability eProperty News
Growthpoint Properties has launched an innovative pilot project that turns the large volumes of food waste generated by client businesses at its properties into compost.

Commercial Property Auctions

House Pic

Tobie Myburgh Auctioneers to auction properties and a beautiful game farm in Kimberley

November 01, 2017 Commercial Property Auctions eProperty News
Properties will be auctioned separately first and then offered as a unit.

Africa, International Property News

Nick Riley CEO

Portfolio quality and pro-active asset management secures revenue sustainability for FY18 despite a challenging market

November 14, 2017 Africa, International Property News eProperty News
Investec Property Fund (“IPF” or “the Fund”) is pleased to announce an interim dividend of 68.37 cents per share (cps) for the six months ended 30 September 2017 (Sept 16: 60.91 cps).

Construction, Energy and infrastructure

Jacques Du Toit Absa Hoam Loans

Residential building activity contracted in the first three quarters of 2017

November 16, 2017 Construction, Energy and Infrastructure eProperty News
The first three quarters of 2017 saw building activity in the South African market for new private sector-financed housing (see explanatory notes) contracting in both the planning and construction phases compared with the corresponding period last year, based…

Most Popular

Women Property Network announces winners in 2017 SA women in Property Awards

Oct 19, 2017
WPN2017 Awards
At a glittering event held at the Polo Room, Inanda Club last night, the Women’s Property…

Increase productivity at work: just add air, sunlight, and water

Oct 23, 2017
Nigel Oseland
Only 53% of wage earners think their place of work helps their productivity.

Emira Property Fund's R200m Rosebank office-to-residential conversion meets a high-demand gap in the market

Oct 26, 2017
Emira The Bolton residential development perspective
Emira Property Fund’s value-enhancing conversion of its Rosebank office property assets…

Sky City Mall: The hub of the mega Sky City development

Nov 03, 2017
Sky City Mall Front view
GMI Property Group (GMI), in collaboration with Cosmopolitan Projects are pleased to…

The ageing groups of home owners remain a force to be reckoned with in tougher economic times

Oct 19, 2017
John LoosFNB
The 3rd Quarter 2017 FNB Estate Agent Survey continued to point strength in levels of…