Balwin Properties secures R450m funding deal for Thaba Eco-Village Development

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18-11-2021
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Property Wheel
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Balwin Properties and FNB have announced the conclusion of a funding deal that will make R450 million available for the first 480 apartments and infrastructure of the listed developer’s Thaba Eco-Village currently under construction in Johannesburg South.

“FNB is committed to facilitating the entrance of first-time homeowners into the formal housing market”, commented Gordon Little, FNB Commercial CEO.

“Balwin’s world-class leading and innovative approaches to local skills development and environmentally-friendly construction make them attractive partners and we look forward to additional projects being realised”.

“Balwin’s proven track record and high-quality products lend themselves to the establishment of robust, long-term partnerships that we believe hold a great deal of future potential”.

The development will see a total of 3 489 apartments built alongside substantial infrastructure and amenities including a restaurant, an indoor gym with squash courts, Thaba trails, a laundromat, an outdoor swimming pool, a kids play area, padel courts, mini pitches, a half basketball court, a skate park, and Little Hill Montessori school.

“Balwin is a proudly South African property developer that strives to be the affordable internationally green certified home builder of choice through the delivery of unique high-quality lifestyle homes”, commented Steve Brookes, CEO of Balwin Properties.

“We are very pleased to bring the Balwin brand to Thaba Eco-Village, which we believe will become an iconic development and leading address in Johannesburg South. Our first apartments were developed in Johannesburg South, which provided us with an opportunity to understand the area extremely well”.

“Our partnership with FNB presents exciting opportunities for Balwin and our clients. FNB’s ability to provide cheaper credit to buyers as a result of our EDGE certification is an innovative model that will result in shared benefits through green bonds and lower interest rates.”

Balwin places a strong emphasis on building developments which not only sustain the environment but actively renew it. Many of the measures implemented on Balwin sites are at the cutting edge of green building, not only in Africa but globally. As the largest sectional title developer in South Africa, it specialises in large-scale, residential estates in major growth nodes for South Africa’s expanding low-to-middle income population.

All of the group’s developments are designed for EDGE certification by the Green Building Council South Africa (GBCSA), and their lifestyle centres are all 6-Star Green Rated. The EDGE standard is set at a minimum of 20% reduction across energy consumption, water usage and embodied energy in materials, Balwin is targeting EDGE advanced on these apartments which requires an energy consumption saving of 40%.  An innovation of IFC, a member of the World Bank Group, EDGE empowers emerging markets to scale up resource-efficient buildings in a fast, easy, and affordable way. Balwin has registered more than 30 000 apartments across its portfolio for EDGE certification with the Green Building Council of South Africa, the most of any company globally.  

EDGE registration provides Balwin’s environmentally conscious buyers and tenants with the assurance that they are minimising their own environmental footprint while saving on utility costs over the long term. FNB Home Loans leverage the benefits of EDGE certification by lowering the cost of finance for EDGE-certified properties, including those within Thaba-Eco Village, which will qualify for additional interest rate discounts through the FNB Eco Energy Home Loan (Balwin Green Mortgage).

Construction on Thaba Eco-Village is underway, and occupancy of the first two phases has already taken place.