Fast view
- Ninety One provided a senior investment loan to Balwin Properties Limited.
- The facility funded infrastructure development and facilitated the building of apartments targeting low- to middle-income homeowners.
- Ninety One’s loan tranche was unique in that it incorporated sustainability targets in its structure.
| Sector: | Real estate - housing |
| Total commitment: | ZAR300 million |
| SDGs: | 
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Background
Balwin Properties Limited is one of the leading housing providers in South Africa. The company develops and sells residential properties across low, middle, and high-income segments through sectional-title apartments located in high-density, high-growth areas in Gauteng, the Western Cape and KwaZulu Natal. Balwin was founded in 1989 and is one of the few developers driving environmentally responsible building practices to provide high-quality, affordable apartments through innovative designs and building techniques.
Opportunity
Balwin develops and sells an average of 2,000 - 3,000 apartments per annum, making it one of the largest housing providers in South Africa. The company has secured land and development rights that can accommodate the development of over 40,000 apartments, which it ambitiously intends to roll out over the next 15 - 20 years.
Contribution and impact
ESG targets are incorporated into the structure of the Ninety One loan tranche. These include reducing CO2 emissions, efficient water and electricity consumption, and the promotion of financial inclusion. Achieving these targets over the duration of the loan term has led to a material reduction in the interest rate margin that Balwin pays. Ninety One’s funding to Balwin seeks to contribute towards filling South Africa’s housing gap.