Nedbank funds Am Weinberg
Nedbank Namibia announced this week it has landed a deal worth more than N$250 million with mega property developer, Jimmey Construction. This is the bank’s biggest property deal to date.
“At Nedbank Namibia, we are living by our slogan of Make Things Happen” said Christo Kruger, the bank’s Head of Property Finance, when he announced the N$252 million deal with Jimmey Construction, one of the largest property developers in the country.
Kruger said this is the biggest mixed-use development in the history of Nedbank, following the Oryx Properties Limited deal of N$250 million back in 2013.
Nedbank Managing Director, Lionel Matthews, said the landmark deal which took almost four months to conclude, positions Nedbank on par with other financiers who may already have a record in deals of this nature, and showcases us as a market player to be reckoned with. “We continue to strive to become Africa’s most admired financial services provider, with successful deals such as this one serving as inspiration to us all along our way to achieve our goal. Getting this deal solidifies our capabilities as a bank and aptitude for significant property finance deals,” he said.
Dr Jacko Koen, the Chief Executive Officer at Jimmey Construction said “We are extremely grateful to Nedbank who build on their ethos of ‘Make Things Happen’, and made this iconic landmark development possible. Am Weinberg Estate is the epitome of lifestyle orientated, mixed-use design. It is a first development of its kind in Namibia, making it a truly great partnership with Nedbank who are also known for their innovative products.”