Shelter Afrique has inked a Memorandum of Understanding (MOU) with Triangle Real Estate, a housing developer based in Juba, to develop 26,000 housing units for the South Sudan Defense Forces.
The deal which was signed in Nairobi by Shelter Afrique CEO Andrew Chimphondah and his Triangle Real Estate counterpart Amb. Arop Deng Kuol is estimated to cost USD 1.5 billion and it will be developed via public-private partnerships.
“We have been mandated by the South Sudan Ministry of Finance and Planning to source funds for the construction and completion of a defense housing project on behalf of the Government of South Sudan under the Peace Through Development programme initiated by President Salvar Kiir in 2018. The housing crisis in South Sudan is dire. In fact, we are starting from scratch. This MOU is very important for us and is proof that provision of affordable housing is central to the agenda of the government of the South Sudan, not just for the Forces but for the entire population,” Amb. Kuol said.
Under the agreement, Triangle Real Estate will act as the developer and contractor of the project in conjunction with various consultants. Shelter Afrique, on the other hand, 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 as applicable.
The Project scope includes the development of 148 housing blocks of 160 housing units each at New Site, Qiada Junubiya, J-3 Presidential Guards Apartments, and at New Bonga.
“Our vision is to provide affordable housing for all Africans – including South Sudan. We are proud to be part of this partnership and we look forward to being the pre-eminent provider of financial, advisory and research solutions geared towards solving the housing crisis in South Sudan which has a shortage of 4 million units,” Mr. Chimphondah said.