Johannesburg, 02 September 2019: The South African Housing and Infrastructure Fund (SAHIF) has expressed a non-binding interest to acquire a Johannesburg Stock Exchange listed company, Freedom Property Fund, trading as FDP on the JSE main board as released on SENS (Stock Exchange News Service).
SAHIF is looking to acquire all of the issued shares of Freedom by way of a scheme of arrangement in terms of section 114 of the Companies Act 2008 ("the Potential Transaction"), subject to a due diligence investigation.
The Expression of Interest is subject to an exclusivity period to SAHIF of a maximum of 120 days from 22 August 2019.
Formed in 2012 and listed on the JSE main board on 12 June 2014, Freedom Property Fund Limited is a capital growth fund with mainly a geographically diverse land portfolio as well as income producing property which hold a combined value of just over R1.5 billion as reported in the last released financial statements for the company.
Commenting on the acquisition, SAHIF CFO, Kameel Keshav, says this is a strategic move for the newly launched land fund to make its mark in the real estate industry. "This proposed acquisition of Freedom Property Fund will add significant value to our business by accessing the strong pipeline of strategically located land opportunities which all have been identified as future residential affordable housing developments matching our business model. As SAHIF, we are here to create something that is extraordinary in the (real estate) sector; something unusual without losing our focus of contributing to the shortfall of serviced stands in South Africa," says Keshav.
SAHIF was officially launched on the 2nd of July 2019 with the aim to fast track the delivery of serviced stands for poor and middle-class South Africans. The fund is a unique initiative that focuses on increasing and accelerating delivery of affordable housing units (serviced stands) through acquisition of vacant and unused land near cities, town centres, shops, parks, schools, public transport, public health care and places of work (all within the urban edge). Its objective is to assist government and private sector to address the shortfall of promised homes to South Africans that have not yet been built, which exceeds 1.7m homes.
"This is just the first of many bold moves planned for SAHIF over the coming years. We continue to be a company that will enter into the right opportunities to enhance the value of our business. This acquisition will bolster our consolidated land pipeline geographically allowing us to delivered on serviced stands in new areas of the country and ultimately addressing the housing crisis in South Africa," says Rali Mampeule, CEO of SAHIF.
SAHIF has a target of 108,160 service stands units to be delivered over the next 3 years, which will impact over 430 000 lives with a fund size of R15.3 Billion. The roll-out of this fund has previously created 4,731 jobs and will provide an additional 6,953 jobs in the future. This will essentially create a total of 11,684 jobs by the end of the 3 year term.
The South African Housing and Infrastructure Fund (SAHIF) has learnt with sadness the passing of Construction industry heavyweight, Dr Thandi Ndlovu.
Ndlovu passed away in hospital on Saturday following a horrific car accident. According to reports, she was on her way to a funeral in Rustenburg, North West.
SAHIF CEO, Rali Mampeule, says this is a sad day for the Built Environment industry in general and the Construction industry in particular. "The construction industry has lost a heroine, a dedicated businesswoman and a selfless leader," says Mampeule who knew Dr Thandi very well and interacted a lot with her in recent weeks.
"Dr Thandi paved a way for a lot of women in the industry and she was on a mission to unlock more opportunities for others. She was one of the shining stars in the construction industry, thanks to her 20 years experience in the sector."
Ndlovu, a Medical Doctor by profession, launched Motheo Construction in 1999; a company that was well respected within the sector. The company acquired a grade 9 certificate level from the Construction Industry Development Board.
Growing within the industry, she served as president of the Black Business Council for the Built Environment. Ndlovu also played a pivotal role in the growth of the African Women Chartered Accountants.
"We'd like to send our heartfelt condolences to the Ndlovu family and friends. The news of Dr Thandi's passing came as a shock, especially this month (women's month) which we've dedicated to women in construction. May her soul rest in peace," adds Mampeule.
Dr Thandi Ndlovu is on the front cover of the August issue of Forbes Magazine Africa. She will be dearly missed and her contribution to the Construction industry will echo for generations to come.
The South African Housing and Infrastructure Fund (SAHIF) has announced that they will fast track the delivery of serviced stands as is much needed by poor and middle class South Africans.
This is an initiative created with the aim to increase and accelerate delivery of housing units (serviced stands or ultimately fully developed homes) through acquisition of vacant and unused land near cities, town centres, shops, parks, schools, public transport, public health care and places of work.
SAHIF's founder and CEO Rali Mampeule and his team will utilize their extensive experience in the property sector to speed up the delivery of serviced stands to address the high demand of housing in South Africa.
Mampeule said, "The objective is to assist government and private sector to address the shortfall of promised homes to South Africans that have not yet been built, which exceeds 1.7m homes".
With the support of government and private land owners, SAHIF has a target of 108,160 service stands units to be delivered over the next 3 years, which will impact over 430 000 lives with a fund size of R15.3 Billion.
"The business model is based on a unique self-funding structure eliminating the requirement of external shareholder investment. " says Kameel Keshav the CFO of the fund.
The roll-out of this fund has previously created 4,731 jobs and will provide an additional 6,953 jobs in the future. This will essentially create a total of 11,684 jobs by the end of the 3 year term.
"We are answering to the President's call of 'Thuma Mina' with a committed set target within the 3 years period." says Mampeule.
He continues to say, "As a fund , our long-term goal is to support young, black property professionals in the sponsorship of their studies within the housing sector. This also includes a financial contribution to black-owned SMME's within the property sector and developing black suppliers in delivery of the fully serviced stands."
Forbes Real Estate Council Is an Invitation-Only Community for Executives in Real Estate
Boston - Rali Mampeule Founder and CEO of South African Housing and Infrastructure Fund (SAHIF), a South African based fund that is acquiring vacant and unused land near the centres of towns and cities for conversion into zoned and serviced stands has been accepted into the Forbes Real Estate Council, an invitation-only community for executives in the real estate industry.
With over 15 years experience is the Real Estate industry, Mampeule is a willing buyer and seller of income generating Real Estate Assets in Commercial, Retail, Industrial and Residential properties, based in South Africa.
Now accepted into the globally acclaimed Forbes Real Estate Council, Mampeule was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors.
"We are honored to welcome Rali Mampeule into the community," said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Real Estate Business Council. "Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world."
As an accepted member of the Council, Rali has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum. Rali will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts.
Finally, Mampeule will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team. "Iím excited about joining the Forbes team and feel that my participation will help my country in creating solutions of addressing the material shortfall of housing in South Africa," says Mampeule.
ABOUT FORBES COUNCILS
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.
For more information about Forbes Real Estate Business Council, visit www.forbesrealestatecouncil.com
To learn more about Forbes Councils, visit www.forbescouncils.com
SABC Digital News
Rali Mampeule, the Chief Executive of the South African Housing and Infrastructure Fund has been accepted into the Forbes Real Estate Business Council, an achievement that can only happen upon invitation by the council members.
Read all about it here
Land owners are running scared, offloading land in fear of the expropriation of land without compensation, according to property mogul and CEO of the South African Housing and Infrastructure Fund (Sahif), Rali Mampeule.
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Project aims to assist the state in building houses for poor and middle-class people.
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A fund has been launched to accelerate the delivery of serviced stands for the poor and working class to build their own homes close to schools, public transport and workplaces.
Read all about it here