The International Finance Corporation (IFC) of the World Bank IFC today announced financing for a new investment platform managed by South Africa’s Eris Property Group.
The financing aims to boost the development of affordable, quality, and resource-efficient student accommodation in South Africa, especially for low-income students.
IFC’s 150 million rand ($10 million) equity investment in Eris’s South African Student Accommodation Impact Investments Proprietary Limited platform will help Eris develop and operate accommodation for up to 15,000 students over the next five years, helping meet soaring demand.
IFC has also committed to helping Eris, a leading property developer and real estate fund manager, raise additional funds for student accommodation from other parties.
NICO Group posts K18 6bln profit after tax; K2 399bln to be shared as dividends nyasatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nyasatimes.com Daily Mail and Mail on Sunday newspapers.