A smart city being developed in Gauteng is about to get a lot smarter, to the tune of US$58 million.
The Mooikloof Smart City, chosen in 2020 as one of the South African government’s strategic integrated projects, is a mixed-use lifestyle development being built east of Pretoria and only 40 km from Johannesburg.
The IFC has granted developer Balwin Properties the US$58 million funding facility to develop more than 14 500 affordable apartments, reports Businesstech.
Parts of the R84 billion Smart City have already been completed and some housing units are already for sale.
The IFC says each apartment will be certified using its Excellence in Design for Greater Efficiencies (Edge) tool.
‘The support from IFC not only enables us to expand the availability of affordable housing but also reinforces our dedication to green building practices,’ says Balwin Properties CEO Steve Brookes.
22 April 2025
Image: Pexels
Crunch the data with stats from all 55 countries.
The latest communications from companies around the continent
