Actis, a leading growth markets investor and Shapoorji Pallonji Real Estate (SPRE), the real estate arm of one of India’s largest conglomerates, are set to launch a new real estate joint-venture platform to meet the demand for affordable and middle-income housing in the Sub-Saharan Africa starting with Kenya.
Inside the residential development platform is a plan to tap into the demand of quality and affordable homes in Africa. Actis and Sharpooji could also be looking to reap from the Affordable Housing pillar of the Big Four Agenda.
David Morley, the Global Head of Real Estate at Actis in a joint statement exuded confidence that the investment will bear fruit.
Shapoorji Pallonji Real Estate CEO Venkatesh Gopalkrishnan said, “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.”
Read: Bungalows, maisonettes uptake dips as Kenyans rush for apartments
Koome Gikunda, a director at Actis is also upbeat about the initiative saying that the joint venture will deliver quality which will be followed by consumer trust.
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