The International Finance Corporation (IFC), a member of the World Bank Group, has committed R1 billion ($58 million) in financing to Balwyn Properties to develop more than 14,500 affordable and environmentally friendly apartments in the Mooikloof Smart City in Tshwane.
This landmark investment aims to address South Africa’s housing shortage while promoting sustainable urban development, job creation and economic growth.
Key investment highlights
14,500 EDGE Advanced Certified Homes – Each apartment meets IFC’s Excellence in Design for Greater Efficiency (EDGE) Advanced standards, guaranteeing a 40% reduction in energy usage, 20% in water savings, and long-term cost savings for homeowners. Government and private sector collaboration – This project is in line with South Africa’s plans Strategic Integration Project (SIP) Government-funded initiatives Bulk infrastructure (water, electricity, roads, sewage systems) Accelerate development.
Job creation and economic growth – Development is Strengthen local supply chains, boost jobs and strengthen community infrastructuresupport from South Africa national development plan.
Advantages of green finance – of Balwyn green bond Suggest a homeowner Interest rate reduction of 0.25% to 0.75%save the estimate R80 million Applies to purchasers from past fiscal years only.
Why this investment matters
With 66% of South Africans living in urban areas and this figure expected to rise to 71% by 2030, the demand for high-quality, affordable housing is critical. IFC funding will enable Balwin Properties to expand its sustainable housing solutions and bridge the gap between government efforts and private sector innovation.
Expert insights
Claudia Conceição, IFC Regional Director for Southern Africa, said:
“IFC’s strategic investment in Balwyn directly supports South Africa’s national development plan and confirms our commitment to expanding access to quality housing for low- to moderate-income people. 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:
“Support from IFC not only allows us to expand the availability of affordable housing, but also strengthens our commitment to green building practices. Balwyn is the world’s largest developer of EDGE Advanced certified apartments…As urbanization accelerates, we recognize the critical role the private sector must play in addressing housing shortages.”
A step towards a greener future
Balwyn is also considering the Green Star Precinct assessment for the Mooikloof and Riverwalk developments, further strengthening its leadership in sustainable urban living.
This partnership between IFC and Balwyn is more than just housing, it is a blueprint for inclusive and green growth in South Africa.
