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 and equates to 4% cash back on loan amount. 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 Gross sales price per unit of less than R5 million Retail Value per m² less than R23 000 Office Value per m² less than R18 000 Industrial All industrial buildings, including warehouses 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) environmental and social considerations. Find out more about our Commercial Property Finance solutions https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles 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 Financial Sector Insights Technology transforming finance: The state of play in Africa Africa is emerging as a hotspot for innovation in financial ecosystems. Read more Financial Sector Insights New entrants are disrupting the financial institutions group sector Challenger entrants are changing the face of the FIG sector, impacting this year’s significant trends. Read more
