Balwin Properties, one of South Africa’s leading residential developers, is set to build over 16,000 affordable homes near Johannesburg with the backing of a ZAR 1 billion (approximately $58 million) investment from the International Finance Corporation (IFC). The funding, issued as a local currency loan, will support the construction of Mooikloof City, a large-scale housing development located east of Pretoria.
Mooikloof City will consist of 16,468 housing units designed specifically for low- and middle-income buyers. Each unit will be built to high environmental standards, incorporating energy-efficient appliances, water-saving devices, and insulation to improve energy use and comfort. The development is aligned with global sustainability benchmarks and will be certified using IFC’s Excellence in Design for Greater Efficiencies (EDGE) tool.
This initiative addresses two of South Africa’s most pressing challenges: housing affordability and sustainable urban growth. With over two-thirds of the population already living in urban areas—and that number projected to reach 71 percent by 2030—the need for accessible, climate-conscious housing has never been more urgent.
Balwin Properties’ CEO, Steve Brookes, emphasized the broader impact of the partnership:
“This investment allows us to scale the availability of affordable housing while continuing our commitment to sustainable development. Balwin is the world’s largest developer of EDGE Advanced certified apartments, helping homeowners reduce both utility bills and carbon footprints.”
In addition to its environmental credentials, the development is expected to stimulate local economies by generating employment, strengthening supply chains, and improving infrastructure in surrounding communities. Balwin also noted that homeowners may benefit from lower bond repayments through Green Bond financing available via major banks in South Africa.
IFC’s involvement forms part of its larger strategy to support inclusive and climate-resilient urban development.
“Housing is not just shelter—it’s a foundation for individual well-being, community stability, and national economic growth,” said Cláudia Conceição, IFC’s Regional Director for Southern Africa. “This partnership directly supports South Africa’s National Development Plan and showcases the role private capital can play in delivering real social impact.”
Balwin is also exploring the application of Green Star Precinct Ratings at Mooikloof and its other developments in Tshwane, demonstrating its commitment to continuous innovation in sustainable building practices.
For the IFC, a member of the World Bank Group, the investment aligns with its goal to mobilize private sector solutions in emerging markets. In fiscal year 2024, the institution committed a record $56 billion globally, with a strong focus on infrastructure gaps in countries like South Africa.
As the public and private sectors work to address South Africa’s housing deficit, the Mooikloof City project may serve as a blueprint for scalable, climate-smart development that delivers both economic and environmental dividends.
