Stephen Brookes Gains 1.8 Million This Year From Balwin Stake

South African real estate tycoon Stephen Brookes, the founder of Balwin Properties, has seen the market value of his stake climb by more than 1 million year-to-date, driven by a rise in the share price of the property developers on the Johannesburg Stock Exchange JSE.

Brookes, the founder of Balwin Properties, holds a controlling 33.07-percent stake in the company, translating to 171,751,457 ordinary shares. Since January 1, his stake has gained R32.63 million 1.83 million, pushing his total stake above 22 million.

Balwin Properties, known for its large-scale estates catering to South Africas low-to-middle-income population, prides itself on providing affordable and environmentally efficient apartments with innovative lifestyle offerings for residents.

The companys share price on the JSE has climbed 8.76 percent this year, rising from R2.17 0.12 on Jan. 1 to R2.36 0.13. The rally has lifted its market capitalization above 65 million, rewarding investors, including its founder, Stephen Brookes.

As a result of the uptick, Brookes stake in the company has increased from R372.7 million 20.85 million at the start of the year to R405.33 million 22.68 millionmarking a year-to-date gain of R32.63 million 1.83 million.