Balwin Properties plans to roll out more than 14,500 affordable apartments in Tshwane after landing a $58m (R1bn) loan from the World Bank’s investment arm, the International Finance Corporation (IFC).
The JSE-listed residential property developer intends to use the funds to develop apartments in the Mooikloof node, a mixed-use lifestyle precinct located east of Pretoria and about 40km from Joburg.
“The availability of the IFC’s loan facility is expected to promote job creation and economic growth through its impact on the local community and surrounding areas, deepening local supply chains and improving business and residential infrastructure,” Balwin said in a statement.
Balwin said the IFC facility would complement government’s investment in bulk infrastructure, accelerating delivery of much-needed housing.
Mooikloof Smart City was designated a Strategic Integrated Project (SIP) in July 2020, and is set to receive government-funded infrastructure covering water, sewerage, electricity, roads and storm water services as part of a broader strategy to stimulate economic growth and job creation through large-scale development.
“IFC’s strategic investment in Balwin underscores our commitment to expanding access to quality housing for low- to middle-income households, directly supporting SA’s national development plan,” said Cláudia Conceição, IFC’s regional director for Southern Africa.
With 66% of South Africans living in urban areas — set to rise to 71% by 2030 — the country faces a growing housing shortfall. Balwin’s partnership with the IFC aligns with the World Bank group’s strategy to leverage private capital for essential infrastructure, including housing.
The apartments will be built with a focus on sustainability, featuring energy-efficient appliances, water-saving systems and insulation to keep temperatures stable.
“The support from IFC not only enables us to expand the availability of affordable housing but also reinforces our dedication to green building practices, said Steve Brookes, CEO of Balwin Properties.
“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,” Brookes said.
The group reported that its green bond offering enables buyers to access interest rate reductions of between 0.25% and 0.75% from major financial institutions.
“Due to the green certification of its apartments, clients have collectively saved approximately R80m on mortgage bonds for units sold in the financial year ending February 28 2025, calculated over the full term of their loans,” Balwin said.
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