Nedbank finances retirement village

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Staff Reporter

Windhoek-After months of preparation and hard work, Nedbank Namibia (NBN) recently broke ground in celebration of partnership and the realisation of a dream.

Over the past year the Nedbank Corporate and Investment Banking (CIB) team have taken to aggressively entering and growing their share in the commercial property market, financing multiple major contracts valued at hundreds of millions of dollars.

NBN has grown considerably in its ability to serve this sometimes challenging segment of the market, especially in the face of a depressed economy.

“Eros Manor is the first retirement village to be financed by Nedbank Namibia, and it took a great deal of effort and seeing things differently to make that happen. Yet here we are, we’ve come out the other end smarter and wiser with another major property deal and importantly, a proud partner of the flagship retirement and lifestyle village in Namibia” says Nedbank Namibia’s managing director, Lionel Matthews.

Not only has this been a journey of growth for Nedbank Namibia, it also allowed the Eros Manor project team realise a vision they set in motion more than 10 years ago, when they applied for the rights to acquire the land next to the current Eros Manor Lifestyle and Retirement Village.

This commenced right after finishing the original development in 2006. Over the past decade they have proven to be more than capable of running a premier lifestyle retirement village, which at the time was the first of its kind in the country.

“Your success has been self-evident with the re-sales of units in the original Eros Manor selling out on average in two months in 2016, above market valuations in a depressed market, without any marketing, as well as with the vast majority of units for the new extension being sold out in pre-sales already. I would like to extend my heartfelt thanks to you, for choosing Nedbank as your financial partner and allowing us to grow together and reaching our dreams together,” Matthews added.

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