Newlyn Group secures $305 million Absa CIB backing to expand Africa projects

Newlyn Group,  a South African developer specialising in large-scale logistics and industrial infrastructure, has secured a R5 billion ($305 million) financing package from Absa Group’s Corporate and Investment Banking (Absa CIB) division, marking one of the largest funding deals secured by a private property company in South Africa.

The transaction will provide Newlyn Group with additional liquidity to accelerate its national development pipeline, strengthen its balance sheet and expand strategic logistics infrastructure projects across key coastal and inland freight corridors.

Absa CIB financing targets logistics growth

Newlyn Group founder and CEO Rajendra Balmakhun said the bespoke financing solution developed by Absa CIB would allow the company to scale its operations while maintaining financial flexibility.

“We are pleased to announce that Absa CIB has developed a bespoke real estate solution at favourable terms for Newlyn Group, unlocking liquidity to enable our growth at scale, while at the same time supporting our ongoing balance sheet strength,” Balmakhun said.

Absa CIB described Newlyn as a leading South African ports logistics and infrastructure developer, saying the financing would support the delivery of critical infrastructure assets across important logistics corridors.

The funding will support developments including logistics facilities at major coastal and inland freight hubs, as well as bulk cargo terminal projects designed to improve efficiency across South Africa’s supply chain network.

Newlyn PX Terminal anchors development pipeline

One of the company’s flagship projects is the R3.4 billion ($207 million) Newlyn PX Terminal near the Port of Durban, a major infrastructure development designed to enhance bulk logistics capacity and support industrial activity.

The project highlights Newlyn Group’s role in expanding South Africa’s logistics infrastructure at a time when improving freight efficiency remains a key priority for economic growth.

Founded in 1996 and headquartered in Durban, Newlyn Group specialises in large-scale logistics parks, industrial developments and infrastructure solutions serving the logistics, supply chain and fast-moving consumer goods (FMCG) sectors.

Three decades building industrial infrastructure

With nearly three decades of experience, Newlyn Group has developed a portfolio focused on operational efficiency, cost optimisation and long-term value creation.

The company’s national property portfolio includes 32 assets covering more than 1.3 million square metres of gross lettable area (GLA). Its development pipeline also includes a 2 million square metre landbank and approximately 200,000 square metres of projects currently under construction.

Through intelligent design, infrastructure planning and tailored development solutions, Newlyn aims to address the growing demand for modern logistics facilities across South Africa.

Absa CIB expands infrastructure finance role

Absa Corporate and Investment Banking is a pan-African financial services division serving multinational companies, governments and institutional clients. The unit provides specialised solutions across investment banking, global markets and trade finance.

The Newlyn Group transaction reinforces Absa CIB’s growing role in financing large-scale infrastructure, property and logistics developments that support economic activity across Africa.