Calgro M3

What Calgro M3 does

Calgro M3 is a JSE-listed South African property and property-related investment company founded in 1995 by Derek, Deon, and Douw Steyn (later joined by the Malherbe brothers in 2001) and headquartered in Bryanston, Sandton. The company specializes in integrated residential developments and the development and management of memorial parks, with Level 1 B-BBEE status and a track record dating to its 2007 AltX listing and 2012 graduation to the JSE Main Board.

The core product portfolio spans affordable entry-level sectional title units (Legacy Hill Estate from R399,000) up to premium full-title estates (32 on Pine from R4,199,895), including lifestyle estates (South Hills), retirement/wellness estates (La Vie Nouvelle for ages 50+), mid-range family developments (Grand Views, Jabulani Junction, Olive Tree), and a Western Cape offering (De Goede Hoop). The company also develops and manages five privately owned memorial parks across South Africa, and operates the Calgro M3 Mortgage Market digital platform as an independent mortgage broker partnering with ooba (Evo Group) to provide in-house bond origination. Operationally, sales are driven by on-site agents at each development, supported by an estate agent and developer partner portal, with mortgage pre-approval via the app.

The revenue model combines one-time property sales (residential development revenue R942m for FY ending February 2026, down from R1.1bn), recurring/annuity income from memorial parks (layby sales up 59% to R45m), and transaction-based fees from mortgage origination. The combined development pipeline stands at R31.8bn, including over 30,000 residential opportunities and the flagship Bankenveld District City project. Revenue concentration is distributed across multiple developments spanning Gauteng, Western Cape, Free State, and Eastern Cape, with reported environmental leadership including a 62% construction waste recycling rate across active sites.

Name

Calgro M3

Legal name

Calgro M3 (Pty) LTD

Website

https://calgrom3.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Calgro M3 is a JSE-listed South African property developer specializing in integrated residential estates (affordable to premium) and five memorial parks, serving first-time buyers, middle-class families, and retirees across South Africa.

Ownership category

akta.pro rank

Headquarters

HQ city

Bryanston, Sandton

HQ country

South Africa

HQ region

Africa

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Residential Property Development and Sales: Primary revenue stream from development and sale of residential properties including sectional title units, full-title homes, and lifestyle estates. Properties sold with title deed upon completion. Revenue declined to R942m from R1.1bn due to reduced joint-venture activity.
2. Memorial Parks: Development and management of 5 privately owned memorial parks across South Africa providing annuity income through layby sales and plot purchases. Strong growth with layby sales rising 59% to R45m.
3. Mortgage Bond Origination: Independent mortgage broker and partner of Evo Group (wholly owned subsidiary of ooba). Provides home loan services to customers purchasing Calgro M3 properties through the Calgro M3 Mortgage Market platform.
4. Joint Venture Development Projects: Partnership-based development arrangements contributing to the combined development pipeline of R31.8bn. Reduced activity in recent period impacting overall revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Calgro M3 is a South African property and property-related investment company that develops and sells integrated residential estates (ranging from affordable sectional title units to luxury cluster and retirement estates) and owns and operates 5 memorial parks providing burial services with layby sales. The company distributes directly through on-site sales agents and an internal digital mortgage bond origination platform (Calgro M3 Mortgage Market) that partners with ooba/Evo Group to facilitate home loan applications for property buyers.

Product overview

Calgro M3 is a diversified South African property and property-related investment company specializing in integrated residential developments and memorial park management. The core product portfolio includes multiple residential estate developments across Gauteng and Western Cape, ranging from affordable entry-level units (Legacy Hill from R399,000) to luxury estates (32 on Pine up to R4,199,895). The Memorial Parks segment provides burial services through 5 privately owned locations. The company also operates a digital mortgage brokering platform through apps.calgrom3.com, partnering with Better Bond/ooba to offer home loan applications with cashback incentives. The integrated residential developments are sold primarily as full-title or sectional title homes to middle-class buyers, with a pipeline of over 30,000 residential opportunities including the flagship Bankenveld District City project.

Differentiator

Problem solved

Functional benefit

Products and services

• South Hills Lifestyle Estate Family lifestyle estate with 3-4 bedroom double-storey free-standing homes in South Hills, Johannesburg. All costs included, modern finishes, gas geyser, gas oven and hob, fibre ready. Starting from R1,039,500.
• La Vie Nouvelle Lifestyle and Wellness Estate Exclusive retirement and wellness estate for ages 50+ in Broadacres, Johannesburg. Features 1-3 bedroom free-standing homes, premium finishes, high ceilings, private gardens, direct garage access, state-of-the-art frail care facility with heated pool, gym, library, and hair salon. Starting from R1,363,950.
• 32 on Pine Exclusive estate in Craigavon with 59 full-title stand-alone clusters overlooking Jukskei River greenbelt. Features 3 bedrooms, 3.5 bathrooms, double garage, solar geysers, designer kitchen, covered patio with built-in braai, and luxury finishes. Starting from R4,199,895.
• Legacy Hill Estate Secure residential estate in Fleurhof Extension 31 offering bachelor and 2-bedroom sectional title units designed for first-time buyers, young professionals, and families. Features modern kitchens with sleek finishes, internet ready (pre-paid), communal DStv access, prepaid electricity, 24-hour secure parking. Starting from R399,000.
• Olive Tree Family estate 8km south of Johannesburg CBD with 2-3 bedroom duplex homes featuring single or double storey options, private gardens, and proximity to shopping centers and medical facilities. Starting from R849,277.
• Jabulani Junction Upmarket 2-bedroom, 1-bathroom sectional title development in Soweto CBD neighboring Jabulani Mall and Rea Vaya transport. Modern finishes include quartz countertops, imported taps and sanitary ware, secure parking. Starting from R659,900.
• Grand Views Family-friendly sectional title development in Fleurhof community with 2 spacious bedrooms, 1 bathroom, modern kitchen with quartz countertops, DStv and fibre ready. Recreational amenities include children's play areas, braai facilities, and mini basketball court. Starting from R699,999.
• Memorial Parks 5 privately owned memorial parks across South Africa providing serene, beautiful surroundings for burial of loved ones. Includes layby sales with 59% growth, generating annuity income stream.
• Calgro M3 Home Loan Platform Online mortgage application platform enabling buyers to apply for home loans, compare offers from major banks, and receive cashback rewards. Calgro M3 is an independent mortgage broker partner of ooba/Evo Group.
• Skyline Views New development in South Hills, Johannesburg, offering modern duplexes and sleek simplex units sold off-plan. Targeted at first-time buyers and investors.

Quantifiable outcome

• 62% recycling rate achieved across all active construction sites
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators7 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• StoneMor Partners: US-listed cemetery and funeral home operator with a multi-site cemetery and memorial park portfolio. Closest international peer to Calgro M3 Memorial Parks in product (cemeteries, cremation, memorial parks) and layby/pre-need revenue model.
• Attacq Limited: JSE-listed South African property investor and developer anchored by Waterfall City in Midrand. Comparable to Calgro M3's master-planned integrated developments (e.g., Bankenveld) in development model and Gauteng-centric strategy.
• Balwin Properties: JSE-listed South African residential developer focused on affordable to mid-market sectional-title apartments in major urban nodes. Directly comparable to Calgro M3 in target customer (first-time buyers, young professionals), price points, and integrated estate model.
• Dignity plc: UK-listed funeral services and crematoria operator with pre-paid funeral plans. Comparable to Calgro M3's Memorial Parks segment in the pre-paid / layby annuity-style revenue model and the recurring-cashflow characteristics of deathcare businesses.
• Octodec Investments: JSE-listed property fund with a meaningful residential portfolio across South Africa, focused on urban mixed-use and residential redevelopment. Comparable to Calgro M3 in residential urban exposure and South African development activity.
• InvoCare Limited: ASX-listed operator of cemeteries, crematoria, and funeral services across Australia, New Zealand, and Singapore. Directly comparable to Calgro M3's Memorial Parks segment in business model — recurring cemetery plot sales with annuity-style layby/advance payment dynamics.
• Indluplace Properties: JSE-listed residential-focused REIT operating in the South African affordable-to-mid-market housing segment. Comparable to Calgro M3 in customer demographic and end-market dynamics, though Indluplace is a rental landlord rather than a developer.

Broad incumbents

• Growthpoint Properties: Largest JSE-listed REIT in South Africa with diversified exposure across office, retail, industrial, and residential. Comparable as a broad incumbent in the South African property ecosystem where Calgro M3 operates and competes for tenants and buyers.
• Redefine Properties: Large JSE-listed REIT with diversified South African and international property assets. Comparable as a broad incumbent in the SA listed property universe that competes for capital, partners, and urban development opportunities.
• SA Corporate Real Estate: JSE-listed diversified SA REIT and existing partner of Calgro M3 in the Real Estate Investment market since 2016. Comparable as a broad incumbent in the SA property space with overlap in the residential and community asset classes Calgro M3 develops.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/easyequities/?hl=en
• LinkedInlinkedin.com/company/calgro-m3-developments-pty-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Calgro M3