The pan-African housing financier is scouting for joint ventures with partners owning suitable land near colleges and universities with a view to put up housing units for students. In such dealings, landowners usually contribute to a project in return for a proportionate ownership interest in the project.
But unlike many developers who are currently building student lodges around colleges and universities, Shelter Afrique is keen on putting up rental houses that would be affordable to students.
Shelter Afrique managing director James Mugerwa recently said it was necessary for property developers to focus on formal rental housing as a means to solve student housing crisis in the country.
The fast expansion of local public and private universities has created a surge in demand for student housing – making it very attractive for developers to build student accommodation facilities near the institutions.
The rising demand has also seen land values going up in areas adjacent to the universities, which means developers have to hike rents so as to recoup investments in reasonable time.