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Rental boost for Gauteng’s rising middle class with R6.4bn deal

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Cape Town – A strategic alliance between a JSE-listed firm and a real estate investment trust (REIT) will bring about 8 900 new affordable rental apartments to Gauteng in a deal worth about R6.4bn.

The alliance between Balwin Properties and Transcend Residential Property Fund was announced on Monday.

The apartments are set to hit the sweet spot for Gauteng’s rising middle class, according to Transcend CEO Rob Wesselo.

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