There can be no arguing against the fact that the provision of affordable housing is a vital component of the social transformation and empowerment efforts of local and national governments across South Africa.

Property Finance at Nedbank Corporate and Investment Banking (CIB) delivered another year of  strong performance,  making a significant contribution to the annual results of both CIB and Nedbank Group as a whole in 2016.

Nedbank Corporate and Investment Banking (NCIB), is pleased to announce the appointment of Richard Edwards as Cape Regional Executive: Property Finance.

Ooba says the decision today by the South African Reserve Bank to increase interest rates by 0.5% from 6.25% to 6.75% will negatively impact the residential housing markets as many consumers are already facing increasing financial strain through dealing with elevated levels of debt and the rising cost of living expenses.

Nedbank Corporate and Investment Banking (NCIB) and the Green Fund which is managed by the Development Bank of Southern Africa (DBSA) on behalf of the National Department of Environmental Affairs (DEA), concluded an agreement to jointly fund the development of approximately 400 affordable green housing units in the Western Cape and Gauteng Provinces.

Recent studies suggest that while the demand for affordable housing is on the rise, affordability remains a barrier for millions of South Africans in this segment, resulting in renting increasingly becoming a more feasible option than buying.

Nedbank Corporate Property Finance is the market leader in the commercial property finance industry.

While the local commercial property finance market has been constrained by poor economic growth, rising operating costs and low business confidence in the first half of this year, it remains buoyant, continuing the strong trend seen over the past few years, according to Nedbank Corporate and Investment Banking (NCIB) managing executive of property finance Robin Lockhart-Ross.

Atterbury Property’s development of Waterfall Corner in Waterfall City, Gauteng, has been named the winner of the Spectrum Award at the South African Council of Shopping Centre’s (SACSC) Annual Retail Design and Development Awards (RDDA).

Nedbank Corporate and Investment Banking and Rabie Property Group have joined forces to complete the Burgundy Estate residential development in Cape Town with the first two projects totalling 370 units at a cost of R400 million due to get underway.