Inner-city housing developer Divercity Urban Property Fund has secured R500m from CDC Group, the UK’s development finance institution (DFI) and one of the largest impact investors in Africa. The investment will accelerate the company’s growth push as it looks to list in the next three to five years.

CEO Carel Kleynhans said in an interview with Business Day on Monday that Divercity, which focuses on developing housing supported by world-class amenities and infrastructure in inner-city precincts, was on track to double its asset base from R3.4bn to about R7bn in the next two to three years...

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