Nedbank funds sustainable affordable housing

[et_pb_section fb_built=”1″ admin_label=”section”][et_pb_row admin_label=”Row”][et_pb_column type=”4_4″ parallax=”off” parallax_method=”on”][et_pb_post_title author=”off” comments=”off” admin_label=”Post Title” title_font_size=”50px” title_text_color=”#0c71c3″][/et_pb_post_title][/et_pb_column][/et_pb_row][et_pb_row admin_label=”row”][et_pb_column type=”1_2″ parallax=”off” parallax_method=”on”][et_pb_text admin_label=”Text” header_line_height=”1.5em” text_font_size=”30″ text_text_color=”#ffffff”]

“Nedbank Corporate and Investment Banking (NCIB) has made the first disbursement from an innovative R120m Sustainable Affordable Housing finance facility.”

[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″ parallax=”off” parallax_method=”on”][et_pb_text admin_label=”Text”]

A collaborative effort between the bank and South Africa’s Green Fund. The first recipient of funding is Belhar Gardens, a Cape Town social housing project owned and managed by Madulammoho Housing Association (MHA). The 630-unit development is the result of a public-private partnership and was made possible through the provision of land, grants and subsidies by the Western Cape provincial government and the Social Housing Regulatory Authority. Belhar Gardens is aimed at households earning between R2,500 and R7,500 a month. Rent starts from R750 a month.

[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row admin_label=”row” custom_padding=”0px|0px|17.9688px|0px”][et_pb_column type=”4_4″ parallax=”off” parallax_method=”on”][et_pb_text admin_label=”Text” text_font=”Roboto|on|||”]


Belhar Gardens units are resource efficient. Head of Affordable Housing Development Finance at NCIB, Manie Annandale, says this is intentionally aimed at containing the total cost of accommodation for low-income households. MHA CEO Renier Erasmus says the inclusion of green energy devices such as centralised heat pumps and innovative ceiling insulation technology makes perfect sense for Belhar Gardens and, indeed, all future social housing developments. Belhar Gardens is one of the fi rst social housing projects in South Africa to have applied for EDGE Green Building certification. Annandale says meeting the rigorous EDGE standard requires that the development achieves at least 20% savings in energy, water and embodied energy in building materials.


Share this article:

more top news stories

Getting fined and possibly losing your FFC – blame HOAs

HOAs are now extorting agents to the detriment of sellers

It has recently come to light that, in addition to the so-called ‘accreditation fees’ many HOAs are “forcing” agents to contravene the PPA by penalising sellers by refusing to release clearance certificates if the agent refuses to pay either their ‘fee’, or a fine for not being registered with the estate.

A repo reprieve, at least for now

A repo reprieve, at least for now

The Reserve Bank’s MPC elected to leave the repo rate unchanged at 8.25%; what are the implications for the property market? Industry leaders weigh in.