Forge Homes has announced its expansion into the Western Cape through acquisition by Only Realty Holdings. Nadine Pretorius, Principal of Forge Homes, tells us more.
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Forge Homes, a residential property company specialising in the sales and marketing of new developments, has announced its expansion into the Western Cape market following a majority share acquisition by Only Realty Holdings.
This acquisition is part of Only Realty’s broader expansion strategy and introduces a new specialist division within the group.
Competitive Western Cape market
Nadine Pretorius highlighted the importance of entering the competitive Western Cape market with a well-matched partner. “The Western Cape’s competitive and active market demanded a partner with regional expertise. Our alignment with Only Realty Holdings, which shares our brand values and culture was the dealmaker in this strategic move,” stated Pretorius.
Grant Smee, CEO of Only Realty Holdings, discussed the acquisition’s role within the company’s comprehensive strategy, which includes the recent acquisitions of Proptech company Leadhome, Johannesburg property specialists Frankie Bells, and the Adrienne Hirsch Property Group, amongst others.
New development sector
“Forge Homes has enjoyed massive success and has a strong presence in Gauteng, notably with developments such as Lallybroch and The Catalyst Hotel. Adding Forge to our portfolio not only broadens our offerings but also gives our new development division a shot in the arm,” explained Smee. Forge, under the helm of Pretorius, established a strong reputation during the tough economic conditions of the Covid slump, selling off 164 units at The Lineal by Zenprop and 105 units at Flex in Waverley, both in Johannesburg.
The integration of Forge Homes into Only Realty Holdings expands the group’s capabilities in the new development sector and highlights management’s mission to growth in the real estate sector. “This addition aligns with our recent acquisitions and is a crucial part of our growth strategy. We are eager to replicate Forge’s success in Gauteng in the Western Cape, starting with a 32-unit mixed-use development in Woodstock,” said Smee.
Smee added that the group was actively looking for similar, mutually beneficial partnerships within the property sector as Only Realty Holdings’ ongoing effort to diversify and expand their service offerings and market reach across South Africa continues.
