RBA
RBA
RBA - RBA Holdings Limited - Market update on housing projects
RBA Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1999/009701/06)
(JSE code: RBA ISIN: ZAE000104154)
("RBA" or "the group")
MARKET UPDATE ON HOUSING PROJECTS
Shareholders are referred to the Interim Results announcement released on 30
September 2010 in which reference was made to the key development project of
RBA, Braamfischerville Ext 14. It was noted that the registration of
transfers of the erven in this project commenced during September 2010 and
construction of these homes was well underway.
The projections for the Braamfischerville Ext 14 project with its 864 fully
serviced transferable stands, are very positive and will contribute
significantly to the company`s profits over the next 3 years. Registrations
of stands in phases 2 and 3 have commenced and a total of 156 houses are
currently under construction in the project.
RBA recorded 136 transfers of stands to clients during the month of November
2010. This is the highest monthly transfers of stands recorded since
September 2007. The group has 403 approved sales in the pipeline awaiting
registration.
The group is also currently constructing approximately 55 houses for mining
companies in the Northern Cape. This is seen as a large growth area as it is
not dependent on bonds to individual buyers.
The group currently has in excess of 300 houses under construction across 11
project areas.
2 December 2010
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 02/12/2010 14:13:02 Produced by the JSE SENS Department.
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