Sh12 billion joint venture to develop affordable and middle-income housing in Africa
SEE ALSO :Making a statement with wallpaperCommenting on the launch of the new platform, Venkatesh Gopalkrishnan (CEO, Shapoorji Pallonji Real Estate), said: “We are delighted to partner with Actis in the African residential market. This venture marks the continuation of a journey for Shapoorji Pallonji Real Estate in the sub-Saharan African Region. There is a huge demand for affordable and middle-income homes and the goal of the joint-venture platform will be to bridge the gap in this market and to exceed customers’ expectations.” Koome Gikunda, Director at Actis said: “Residential remains the largest real estate asset class globally. In some African markets, however, delivery is highly fragmented. There is a notable lack of institutional quality homebuilders with the expertise, capital and consumer trust to truly address the opportunity at scale. Actis’ joint venture with Shapoorji Pallonji seeks to remedy this in partnership with our local stakeholders.”
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