Burial space fast becoming an investment

Property group Calgro M3 used to solely focus on low-income housing but now it's moving into developing memorial parks. Courtesy #DStv403

JOHANNESBURG - With space running out in a number of cities across the country, there's an urgent need for burial plots.

Many businesses and individuals are now snapping up land worth millions of rand for this purpose.

READ: Joburg running out of burial space

“A few years ago we started off with one cemetery, we had to research it. We had never found one that had been auctioned off before. So we did a lot of research on it, we found that it could be done and we did it. 

"Since then we’ve auctioned off three. We found out that it's big business,” said High Street Lead Auctioneer and director, Joff van Reenen.

READ: Durban's grave shortage

Property group Calgro M3 used to solely focus on low-income housing and is now moving into developing memorial parks.

“There is a lot done in the past to increase service and dignify service in the funeral space. But no one has really touched the land part of it and to develop real dignified memorial parks and land space," said Calgro Group CEO, Wikus Lategan.