MoU signed for implementation of military housing project in South Sudan
MoU signed for implementation of military housing project in South Sudan
Modified date:
Shelter Afrique, has inked a Memorandum of Understanding (MOU) with Juba-based real estate firm, Triangle Real Estate for the implementation of a military housing project in South Sudan.
Under the agreement, Triangle Real Estate will act as the developer and contractor of the project in conjunction with various consultants while 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.
Pan-African housing development financier Shelter Afrique has entered into an agreement with with South Sudan-based real estate firm, Triangle Real Estate to develop 26,000 housing units for South Sudan Defense Forces at an estimated cost of $1.5 billion through a public-private-partnership special purpose vehicle.
The agreement was signed in Nairobi by Shelter Afrique Chief Executive Officer Andrew Chimphondah and Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, on behalf of the Ministry of Finance and Planning for the Government of South Sudan.
“We have been mandated by the 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,” Amb. Kuol said.
Shelter Afrique signs USD1.5bn housing deal with South Sudan
Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, and Shelter Afrique Chief Executive Officer Andrew Chimphondah exchange documents after signing the USD1.5bn housing deal. [Photo: KBC]
Shelter Afrique has signed a Memorandum of Understanding (MOU) with Juba-based real estate firm, Triangle Real Estate for the construction of 26,000 housing units for South Sudan People’s Defence Forces at a cost of $1.5 billion.
The pan-African housing development financier Shelter Afrique says the military housing project will be developed through a public-private-partnership special purpose vehicle, Kenyan media reported.
The MOU was signed in Nairobi by Shelter Afrique Chief Executive Officer Andrew Chimphondah and Triangle Real Estate Chief Executive Officer Amb. Arop Deng Kuol, on behalf of South Sudan s Ministry of Finance and Planning on Monday.