The Sustainable Housing Ecosystems (SHE), a joint consortium between Altair, AMC and Trellis on Wednesday announced to invest 50 million dollars in Pakistan during the next three years, aimed at providing affordable homes to the lower and middle-income people of the country.
“The Consortium has already invested 50 million dollars and provided 3000 houses units to the lower and middle-income class,” said CEO of AMC, Jawad Aslam.
Pakistan has one of the lowest housing finance-to-GDP ratios of 0.25 percent compared to 3 percent in Bangladesh, 11 percent in India, and 70 percent in the EU. They observed with concern that around 30 percent, i.e., 65 million people in Pakistan are facing a houses shortage and need around 10 million homes indicating that there is huge potential for investors.
Altair, a UK-based organization, provides high-quality, creative solutions to the varied and dynamic challenges facing organizations in housing and they have delivered over 50,000 homes in addition to being the enabler of millions more homes in private and public ownership. AMC has developed sustainable and affordable housing projects across multiple cities in Pakistan. Trellis Housing Finance Limited provides Shariah complaint housing finance to people who are traditionally not catered to by the current financial institutions in the country.
