Newlin Group, a leading port logistics and infrastructure developer in South Africa, has concluded a R5 billion integrated financing solution with ABSA CIB, which will power its national development pipeline to enable large-scale development.
The finance solution will fund Newlin Groups delivery of infrastructure assets across key logistics corridors in South Africa.
Rajendra Balmakhun, Founder and CEO of Newlin Group, says, “We are delighted to announce that Absa CIB has developed an exclusive real estate solution for Newlin Group on favorable terms, unlocking liquidity to enable our growth at scale, while, at the same time, supporting our ongoing balance sheet strength.”
“This innovative transaction with Newlin Group demonstrates our ability to create complex solutions and demonstrates the strength of ABSA CIB’s partnerships with key clients in the real estate sector,” says Somaya Joshua, managing executive of real estate at ABSA Corporate and Investment Banking.
Since 1996, Newlin Group has established a three-decade track record of proven investment and development expertise in South Africa's specialist port logistics sector. Its national portfolio of large-scale logistics parks and properties spans 32 assets and over 1.3 million square meters of gross lettable area (GLA) and includes a 2.0 million square meter landbank as well as 200,000 square meters of developments currently under construction.
Newlin Group is committed to a development pipeline of strategically located, high-performance facilities at South Africa's key coastal and inland logistics hubs. Its exclusive bulk cargo terminal development has been engineered to enhance efficiency in the bulk logistics sector and is set to transform the port logistics landscape of the country.
“By combining deep industry insight with responsible, solutions-driven growth and harnessing the power of key partnerships, Newlin Group will continue to build tailored infrastructure that supports the long-term business success of our partners and South Africa,” says Balmakhun.
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