PRODUCT OFFERING | 31 JULY 2023 Market Accelerator for Green Construction Building Finance Absa | Corporate and Investment Banking > Insights and Events > Market Accelerator for Green Construction Building Finance SHARE In collaboration with the IFC, we offer a performance-based incentive known as Market Accelerator for Green Construction (MAGC). MAGC is available exclusively for financing the construction, and/or retrofitting of green certified buildings. MAGC is made available to partly offset certification and greening costs in the form of a 4% cash back on the loan amount and is only available for SA developments. Property types that qualify for MAGC The following property types qualify subject to certain qualifying criteria and the provision of eligible green building certifications: Residential Townhouse/Detached: Property value below R 5m Apartments: Average property value per unit below R 5m Retail Value per m² below R23 000 Office Value per m² below R18 000 Industrial All industrial buildings, including warehouses Mixed Use All Mixed-use buildings (not including any excluded product types) Hospitals and educational Focused on the domestic market Eligible Green Building Certifications Excellence in Design for Greater Efficiency (EDGE) Leadership in Energy and Environmental Design (LEED) Building Research Establishment Environmental Assessment Methodology (BREEAM) Green Star Qualifying Criteria: Clients Clients will be subject to the standard property finance application process and will in addition be required to meet further qualifying criteria for MAGC including (but not limited to) the following: Completion of an Environmental and Social risk assessment to ensure that the development is not a high risk transaction Completion of an IFC checklist to ensure that the development is not a high risk transaction Compliance with all in country laws as well as applicable Environmental and Social laws For more information on the MAGC product, contact Absa CPF or Tel: 011 350 4241 https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles INSIGHTS SERIES NBFI Insights 2023 Our foresight assists your business' sustainable growth potential. We understand that expert insights create great impact when actioned with collaboration, one sector at a time. Read more FINANCIAL INSTITUTIONS GROUP Fintech We are committed to identifying and supporting fintech-related advisory opportunities. From facilitating mergers and acquisitions to capital raising in both public and private markets, our role extends beyond traditional banking boundaries. Read more INSIGHTS SERIES NBFI Insights As one of the largest funders of agricultural projects in sub-Saharan Africa, we are fortunate enough to have access to some of the most sophisticated farmers and agri-processing professionals on the continent. Couple this with the fact that we are one of the largest card issuers in South Africa and have access to data-rich consumer insights; we are uniquely positioned to track the journey of agriculture projects from farm to fork. Read more
