TUHF CEO Paul Jackson says the housing financier is achieving strong returns in Johannesburg’s inner city, about 13 years after its formation. "Initially it was very difficult to fund projects in the inner city. We needed to borrow from commercial banks to lend to entrepreneurial people in the city. But they wouldn’t lend to us because they viewed the city as risky and dangerous. Years on, we have had various successes in the inner city, especially with multihousing projects valued below R5m," he said. He said that while some listed property companies were involved in inner city residential developments, their sizable projects only accounted for about a third of the inner-city work. "We and other private groups and individuals are involved in the 70% of what’s going on in the inner city." He said TUHF had financed more than R4bn in inner city residential rental property since its formation and its loan book held more than 20,000 residential units. TUHF initially struggled for fundin...
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