{"id":821047,"date":"2025-04-15T16:53:54","date_gmt":"2025-04-15T14:53:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=821047"},"modified":"2025-04-15T17:01:11","modified_gmt":"2025-04-15T15:01:11","slug":"major-update-for-r84-billion-smart-city-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/821047\/major-update-for-r84-billion-smart-city-in-south-africa\/","title":{"rendered":"Major update for R84 billion Smart City in South Africa"},"content":{"rendered":"\n

The Mooikloof Smart City development just received a massive boost after its developer, Balwin Properties, received a R1 billion ($58 million) facility from the International Finance Corporation (IFC).<\/p>\n\n\n\n

The facility will allow Balwin to develop over 14,500 affordable apartments for buyers in Tshwane, helping to increase the supply of affordable housing in the country.<\/p>\n\n\n\n

The funds will facilitate the construction of apartments within the Mooikloof node, a mixed-use lifestyle precinct located east of Pretoria and about 40km from Johannesburg.<\/p>\n\n\n\n

Certain parts of the Smart City have already been completed, and some apartments are for sale. Other amenities, including padel courts, are also available.\u00a0<\/p>\n\n\n\n

President Cyril Ramaphosa announced the Mooikloof Smart City in 2020<\/a> as one of the government’s Strategic Integrated Projects (SIP).\u00a0<\/p>\n\n\n\n

The development had a total project value of more than R84 billion and was one of the 62 SIPs gazetted that year.\u00a0<\/p>\n\n\n\n

The development should not be confused with the different “R84 billion” city in Modderfontein, which has amounted to nothing.<\/strong><\/a><\/p>\n\n\n\n

The government’s involvement aims at creating employment and boosting economic growth through infrastructure development.<\/p>\n\n\n\n

As a public-private partnership development, the Department of Public Works and Infrastructure will pay for all external bulk services installations such as water, sewer, electricity, roads and stormwater.<\/p>\n\n\n\n

Balwin Properties said the development will meet high environmental standards and include energy-efficient appliances, water-saving equipment, and insulation to minimise temperate fluctuations.<\/p>\n\n\n\n

The IFC\u2019s Excellence in Design for Greater Efficiencies (EDGE) tool will certify each apartment.<\/p>\n\n\n\n

Balwin Properties noted that the IFC’s loan facility should promote job creation and economic growth by impacting the local community and surrounding areas.<\/p>\n\n\n\n

The JSE-listed Balwin added that the development will deepen local supply chains and improve business and residential infrastructure.<\/p>\n\n\n\n

New housing trends<\/strong><\/h2>\n\n\n
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Cl\u00e1udia Concei\u00e7\u00e3o, IFC’s Regional Director for Southern Africa and Steve Brookes, CEO of Balwin<\/figcaption><\/figure><\/div>\n\n\n

Roughly 66% of South Africa’s population lives in urban areas, which should rise to 71% by 2030.<\/p>\n\n\n\n

With this in mind, the private sector must play a meaningful role in completing the government’s construction efforts.<\/p>\n\n\n\n

The IFC’s investment thus aligns with the World Bank Group’s strategic focus in South Africa, which seeks to leverage private finance to help bridge social infrastructure backlogs, such as the housing shortage.<\/p>\n\n\n\n

Cl\u00e1udia Concei\u00e7\u00e3o, IFC’s Regional Director for Southern Africa, said that the investment will help expand access to quality housing for low and middle-income households.<\/p>\n\n\n\n

“Housing is a catalyst for individual well-being, strong communities and overall economic growth, making it a key priority for IFC,” said Concei\u00e7\u00e3o.<\/p>\n\n\n\n

Steve Brookes, CEO of Balwin Properties, said that the IFC’s support not only helps expand the availability of affordable housing but also reinforces its dedication to green building practices.<\/p>\n\n\n\n

Balwin is the largest developer of EDGE Advanced certified apartments, which will enable savings of more than 40% in energy and 20% in water.<\/p>\n\n\n\n

“Homeowners save on monthly utility charges through lower consumption as well as through potential lower bond repayments thanks to our Green Bonds with most major banks,” said Brookes.<\/p>\n\n\n\n

“Beyond housing, this investment will stimulate job creation, economic growth and local supply chains, strengthening the surrounding community and contributing to South Africa\u2019s broader development goals.”<\/p>\n\n\n\n

He added that Balwin consistently innovates regarding its sustainable development and is considering applying for Green Star Precinct Ratings at its Mooikloof developments.<\/p>\n\n\n\n

Specific Balwin properties are also eligible for green bonds, which afford clients an interest rate reduction of 0.25% and 0.75% by most significant financial institutions.<\/p>\n\n\n\n

When quantified throughout their mortgages, the reduced mortgages saved clients R80 million on apartments sold in the group’s financial year, which ended on 28 February 2025.<\/p>\n\n\n\n

Images and renderings of the Mooikloof Smart City<\/h2>\n\n\n\n
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Balwin Properties has secured R1 billion in financing to build properties on the Mooikloof Smart City development in East Pretoria. <\/p>\n","protected":false},"author":95,"featured_media":821074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[11909,12806],"class_list":["post-821047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-balwin","tag-ifc"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/821047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=821047"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/821047\/revisions"}],"predecessor-version":[{"id":821095,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/821047\/revisions\/821095"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/821074"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=821047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=821047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=821047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}