The International Finance Corporation (IFC), a member of the World Bank Group, has committed a R1 billion ($58 million) loan to Balwin Properties to develop over 14,500 affordable, eco-friendly apartments in Tshwane’s Mooikloof Smart City.
This landmark investment aims to tackle South Africa’s housing shortage while promoting sustainable urban development, job creation, and economic growth.
Key Highlights of the Investment
- 14,500 EDGE Advanced Certified Homes – Each apartment will meet IFC’s Excellence in Design for Greater Efficiencies (EDGE) Advanced standards, ensuring 40% lower energy use, 20% water savings, and reduced long-term costs for homeowners.
- Government & Private Sector Collaboration – The project aligns with South Africa’s Strategic Integrated Project (SIP) initiative, with the government funding bulk infrastructure (water, electricity, roads, and sewer systems) to accelerate development.
- Job Creation & Economic Growth – The development will strengthen local supply chains, boost employment, and enhance community infrastructure, supporting South Africa’s National Development Plan.
- Green Financing Benefits – Balwin’s Green Bonds offer homeowners 0.25%–0.75% lower interest rates, saving an estimated R80 million for buyers in the past financial year alone.
Why This Investment Matters
With 66% of South Africans living in urban areas—a figure expected to rise to 71% by 2030—the demand for quality, affordable housing is critical. IFC’s funding ensures that Balwin Properties can scale its sustainable housing solutions, helping bridge the gap between government efforts and private sector innovation.
Expert Insights
Cláudia Conceição, IFC’s Regional Director for Southern Africa, stated:
“IFC’s strategic investment in Balwin underscores our commitment to expanding access to quality housing for low- to middle-income households, directly supporting South Africa’s National Development Plan. Housing is a catalyst for individual well-being, strong communities and overall economic growth, making it a key priority for IFC.”
Steve Brookes, CEO of Balwin Properties, added:
“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… As urbanisation accelerates, we recognise the critical role the private sector must play in addressing the housing shortfall.”
A Step Towards a Greener Future
Balwin is also exploring Green Star Precinct Ratings for its Mooikloof and Riverwalk developments, further cementing its leadership in sustainable urban living.
This IFC-Balwin partnership is more than just housing—it’s a blueprint for South Africa’s inclusive, eco-conscious growth.
