The International Finance Corporation (IFC) has provided a R1 billion facility to Balwin Properties in support of the development of over 14 500 affordable apartments in Tshwane.

The loan will facilitate the construction of apartments within the Mooikloof node, a mixed-use lifestyle precinct located east of Pretoria. Mooikloof Smart City was earmarked as a ‘Strategic Integrated Project’ (SIP) in late July 2020, meaning in essence that the Department of Public Works and Infrastructure will pay for all external bulk services installations in respect of the Mooikloof Smart City.

The apartments will be built to high environmental standards, including energy-efficient appliances, water-saving equipment, and insulation to minimize temperature fluctuations, with each unit to be certified by the IFC’s Excellence in Design for Greater Efficiencies (EDGE) tool.

“The support from IFC not only enables us to expand the availability of affordable housing but also reinforces our dedication to green building practices. Balwin is the world’s largest developer of EDGE Advanced certified apartments, enabling savings of more than 40% in energy and 20% in water and embodied energy in materials compared to conventional building methods. Homeowners save on monthly utility charges through lower consumption as well as through potential lower bond repayments thanks to our green bonds with most major banks,” comments CEO of Balwin Properties, Steve Brookes.

Balwin’s green bond offering currently affords clients an interest rate reduction of between 0.25% to 0.75% by most of the major financial institutions. The reduced interest rates received by Balwin’s clients on mortgage bonds due to the green certification of apartments has resulted in savings of approximately R80 million for clients on apartments sold in the Group’s financial year ended
28 February 2025 when quantified over the duration of their mortgages.