One of South Africa’s big four finance firms, Nedbank, has injected R1.35-billion into the Waterfall City precinct in Midrand.

The bank outlined on Thurday that the loan was granted to Attacq Waterfall Investment Company (AWIC) for three new developments in the area, including a new head office for advisory firm PwC, as well as offices and warehouse facilities for construction tools and applications producer Hilti and medical devices and medical equipment manufacturer Stryker.

Construction of the 115 000 m² head office, which would comprise 40 000 m² of offices over 26 storeys and 1 822 basement parking bays on five levels, had already started.

The 3 800 m² warehouse development for Hilti would boast offices on the ground and first floor, 1 700 m² of warehouse space, 60 open parking bays and 40 covered parking bays.

The two rectangular double-volume warehouses would also offer ablution and kitchen facilities. The offices and warehouses for Stryker would feature a similar layout and facilities to the Hilti development, with a gross leasable area of more than 3 000 m².

Nedbank Property Finance Pretoria regional head D’Anvo Jones said the successful conclusion of this deal – one of many in which Nedbank had partnered with AWIC – demonstrated the high levels of confidence that participants in the South African property industry had in Nedbank Property Finance.

“In recent years, Nedbank and AWIC have developed a solid business relationship, one that is built on mutual trust and respect and an understanding of each other’s business models.

“The finalisation of this latest finance partnership will add another impressive project to the growing list of successful developments that have been completed, or are currently under construction, as a direct result of this highly effective working partnership. AWIC has proven itself as an experienced and reputable developer of fine buildings, and the Waterfall precinct is one of the busiest and fastest growing nodes in South Africa,” Jones added.

Anchored by the Mall of Africa, which was due for completion in April 2016, other developments within the precinct included a 148-bed hotel and offices in excess of 50 000 m².