In March 2019, Actis, a growth markets investor, and Shapoorji Pallonji Real Estate (SPRE), an Indian conglomerate's real estate arm, launched a joint venture to tackle Kenya's housing challenges. The Sh12 billion initiative aims to deliver quality residential projects across sub-Saharan Africa, starting with Kenya's middle-income market.
David Morley, Actis' Global Head of Real Estate, emphasized the partnership's foundation in their successful Indian collaboration. 'This joint venture builds on an ongoing and highly successful partnership between Actis and Shapoorji Pallonji in India where we have delivered thousands of high-quality, aspirational homes at affordable prices,' he stated.
Venkatesh Gopalkrishnan, CEO of SPRE, highlighted the venture's goal to bridge Kenya's housing gap. 'The joint-venture platform will be to bridge the gap in this market and to exceed customers’ expectations,' he said. Koome Gikunda, Actis' Director, noted the lack of institutional homebuilders in African markets, stating the partnership seeks to 'remedy this in partnership with our local stakeholders.'
