Visual International sets pace with JSE’s AltX listing

Visual International Holdings CEO, Charles Robertson explains that the company’s JSE AltX listing places it in an excellent position to deliver stakeholder value now and in the future.

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ROBUST growth in the Residential building sector over the past years has spurred another property developer based in Cape Town, Visual International Holdings, to list on the JSE’s AltX today, in order to raise money for expansion.

With a market capitalisation of R126,5 million and a net asset value of R70,7 million, Visual develops complete, self-contained suburbs for the middle-income market.

It is focused on long-term value creation and its long-term EPS growth forecast is 19.00% per year.

According to JSE, Visual is the 3rd company to list on the AltX board this year and the 8th in the real estate sector, where the overall market cap is R24.74 billion.

Visual’s mainly residential property investment is focused in the fastest growing property segment in South Africa.

Charles Robertson, CEO of Visual International Holdings said the JSE AltX listing is a major milestone for the group.

“We are beginning to see a growing awareness of the benefits of listed residential property among the investment fraternity,” says Robertson.

Robertson said residential property as a subsector of the publicly traded property asset class has not been well recognised in South Africa, and certainly nowhere near the levels it receives in the US and Europe. But, we believe this is starting to change, he said.

The property developer wants to continue its model of developing mixed-use suburbs and building housing for the middle market on suitable land near jobs and infrastructure in strategic high-growth nodes.

“The middle-income market is an essential driver for the future of South Africa and encompasses huge potential,” says Robertson. “Its demand for housing far outstrips the supply. Our focus will remain strongly with this market.”

Visual owns more than 70,000sqm of developable bulk at its award-winning flagship Stellendale Village development in the Northern Suburbs of Cape Town. Stellendale is a 22 hectare mixed-use residential suburb just off the Stellenbosch Arterial in Kuils River, Cape Town.

Robertson adds: “By unlocking Visual’s pipeline of development with our JSE AltX listing we are in a strong position to create long-term value for shareholders and all our stakeholders."