Balwin Properties Limited

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    Balwin Properties Limited (“Balwin” or “the company”) is a leading South African built-for-sale housing developer, whose offering is targeted at the low-to-middle income customer segment. The apartments are mainly located in low-rise buildings in easily accessible locations, within 10km of economic hubs. Since its inception in 1996, the company has sold over 30,000 apartments in 96 developments with another 22 developments underway.  IFC is proposing an A loan of US$ 52m to finance the enabling infrastructure for the housing delivery of ~4,500 apartment units for sale at “Mooikloof City” from 2024 till 2033, and to refinance existing commercial bank facilities.  Mooikloof City (“The City” and/or “Mooikloof”) includes two separate low and middle-income housing projects in east of Tshwane, 40km from Johannesburg. The City comprises a total of around ~16,500 apartments including (i) Mooikloof Eco-Estate apartments and (ii) Mooikloof Smart City apartments. Construction has commenced for both developments, and the delivery of apartments has been split into different phases. Delivering the entire ~ apartments in Mooikloof is expected to take 10 to 15 years. Mooikloof City will house apartments ranging from 1 to 3 bedrooms as well as other facilities including lifestyle centres with sports and leisure amenities. As of May 2024, Balwin has already established some of the enabling infrastructure works through partnership agreements with the local government to cover (i) a 37km raw water pipeline from the existing Rand Water Pipeline in Rietvlei Dam Nature through existing Delmas Road and Sinovich Drive road reserves before terminating at Grootfontien Reservoir just outside the confines of Mooikloof City; (ii) Improvements on access roads including Nkuleleko-Impala and KwaMhlanga-Impala roads as well as the related junction improvement works; and (iii) potable water reticulation and sewerage reticulation works for Phase 1 and 2 of Mooikloof Eco-development within Mooikloof City.