Launch of land fund a boost for affordable housing
Project aims to assist the state in building houses for poor and middle-class people
Access to affordable housing received a major boost on Tuesday following the launch of SA's first land fund. The fund, which was created in partnership with the department of human settlements, water and sanitation, aims to fill in the 1.7-million shortfall in the 5-million housing target that was set in 1994.
Kameel Keshav, a former CFO of Rebosis Property Fund, and Rali Mampeule, the CEO of Phadima Group Holdings, unveiled The South African Housing and Infrastructure Fund (Sahif), which already owns land worth R1.7bn. Sahif plans to acquire vacant and unused land near towns and cities, prepare it for development, then sell it to the government.