Trematon Capital Investments' joint venture with Balwin Rentals has lost momentum
The joint venture is impacted by general weakness in the residential market and Covid-19 lockdown.
Trematon Capital Investments said in a statement that its joint venture with Balwin Rentals has lost momentum due to general weakness in the residential market. The group also said that it is not planning to make any new purchases in 2020.
Trematon entered into this venture in 2018 together with Buffet Investments, KLT Holdings and Balwin Properties to acquire residential units built by Balwin Properties for the rental market.
The group added that it had been impacted by the Covid-19 outbreak and the nationwide lockdown on all of its operations.
“All unnecessary capital expenditure has been postponed and expenses will be deferred where possible,” the group concluded in the statement.