The Johannesburg Housing Company (JHC) has secured a R300-million loan from the Public Investment Corporation (PIC) for the development of affordable rental projects in the inner-city of Johannesburg.
The PIC is the investment manager of the Government Employees Pension Fund.
The funding from the PIC would help JHC to develop an estimated 1 800 rental units over the next five years, said JHC CEO Elize Stroebel on Wednesday.
“It is particularly exciting to have PIC as our strategic funding partner in delivering well-located, quality accommodation to an estimated 5 600 people living and working in Johannesburg,” said Stroebel.
Over the past 16 years, focusing on slum clean-ups, building upgrades, refurbishments and conversions, as well as new-build projects, the JHC has developed more than 3 357 housing units, providing homes for more than 9 100 people across the inner city.
To date, the company has invested close to R492-million in inner-city properties and has built up a portfolio of 27 buildings.
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