Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, and Shelter Afrique Chief Executive Officer Andrew Chimphondah exchange documents after signing the USD1.5bn housing deal.
Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, and Shelter Afrique Chief Executive Officer Andrew Chimphondah exchange documents after signing the USD1.5bn housing deal.

Pan-African real estate financier, Shelter Afrique, on Monday signed a 160 billion shillings (1.5 billion U.S. dollars) deal to build houses in South Sudan.

Andrew Chimphondah, CEO of Shelter Afrique, said in Nairobi that the memorandum of understanding with Juba-based real estate firm Triangle Real Estate, which signed on behalf of the Ministry of Finance and Planning of South Sudan, seeks to develop 26,000 housing units for South Sudan Defense Forces through a public-private-partnership special purpose vehicle.

The agreement highlights Shelter Afrique’s catalytic role in providing affordable housing finance across Africa, he said.

“Our vision is to provide affordable housing for all Africans, including South Sudan,” Chimphondah said. “We are proud to be part of this partnership and we look forward to being the preeminent provider of financial, advisory and research solutions geared toward solving the housing crisis in South Sudan, which has a shortage of 4 million units.”

Under the agreement, Triangle Real Estate will act as the developer and contractor of the project while Shelter Afrique will provide catalytic funding as well as act as the lead arranger to assist in raising additional financing through the syndication of other developmental financial institutions.

Arop Deng Kuol, CEO of Triangle Real Estate, said the signing of the agreement is critical in addressing the housing crisis in South Sudan, which has been exacerbated by years of conflicts. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleUgandan unions reach consensus with government team on lunch allowance
Next articleZimbabwean president signs law to promote higher, tertiary education
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.

LEAVE A REPLY

Please enter your comment!
Please enter your name here