SUBSIDIARY NAME
Kings Estate Development
COUNTRY
SOUTH AFRICA
SECTOR/ INDUSTRY
REAL ESTATE
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
August 14, 2022
ACQUISITION VALUATION
181.02 MILLION
TOTAL ASSET VALUATION
1.8102 BILLION
REAL ESTATE
Kings Estate Development by Pat Conway acquired on August 14, 2022.
The proposed Kings Estate Mixed Use Development situated on portions 1, 2,3,4 and 7 all on the Farm Wewe. The project includes the servicing and sale of various land parcels to third party developers, construction period is 43 months. Estimate total capital outlay on completion ext VAT $ 74 446 850.17. Note this estimated amount does not include the offer to acquire the project.