Greening Affordable Housing with Transcend

Our client, Transcend Residential Property Fund Limited, is positively contributing to this vision by providing green affordable housing.

Transcend is a JSE listed Real Estate Investment Trust (REIT) with an affordable housing portfolio consisting of 22 properties, comprising 4,267 units located primarily in Gauteng and the Western Cape.

Absa is proud to have supported and enabled the greening of the Transcend affordable housing portfolio by the provision of a R223mn green property loan. Transcend has achieved Edge Certification, ensuring that their buildings are 20% more energy, water and embodied energy materials efficient.

“Implementing LED lighting, low-flow taps and renewable energy to green our portfolio decreases operating costs for us and our clients, benefiting planet and people. This contributes towards national and international goals of transitioning towards a low-carbon, inclusive economy” says Myles Kritzinger (Transcend – CEO).

“Through a collaboration between Absa’s Commercial Property Finance and Sustainable Finance, we have demonstrated our continued commitment to our clients’ growth and sustainability strategies within the affordable housing segment” says Amelia Dieperink (Head: CPF – Affordable Housing).

About Absa Commercial Property Finance

Absa Group Limited is a listed, diversified Financial Services Provider headquartered in Johannesburg, South Africa. With an extensive branch network, a team of 41 000 banking professionals and a customer base of over 12 million, we’re one of Africa’s most respected banks.

With a banking footprint that stretches across South Africa, Botswana, Ghana, Kenya, Mauritius, Mozambique, Namibia, Seychelles, Tanzania, Uganda and Zambia, Our dedicated teams of specialist bankers have a track record of experience across a range of property segments including retail, office, industrial, residential with a specific focus on affordable housing and specialised properties.

Our innovative financing capabilities have been developed over a 100 years of partnering with property finance professionals across Africa including investors, developers, business owners and listed clients.