Innovative finance model opens access to affordable housing in Pakistan

Reall partner, AMC (Ansaar Management Company) celebrated progress of the Safiya Homes project in Lahore, Pakistan by handing over keys for new affordable homes to families on low incomes. Watch the news report on national Pakistani TV.

Reall’s partnership with AMC

• AMC develops affordable housing in Pakistan – targeting large cities such as Faisalabad, Lahore, Multan, and Peshawar
• They design with local communities and culture in mind by building houses in desirable communities for the bottom 40% of the population
• With Reall’s financial support, AMC have constructed over 700 homes and serviced plots with 4,000 more in the pipeline
• AMC are one of the largest partners in Reall’s global network

The Safiya Homes project

• The project allows families on low incomes to secure home ownership through Akhuwat – an innovative loan system
• Akhuwat is one of Pakistan’s biggest and most successful micro-financing organisations, based on a business model of not charging any interest on loans
• Instead, families who receive loans are asked to donate back to the programme if they want to support other families
• Houses have been built on plot sizes of three marla (675sqft)
• The average cost of a house is Rs20,00000 PKR which is £9,050 GBP

A family celebrating access to their new house from Safiya Homes

Emma Ahmed, Reall’s Head of Asia Operations said: “Reall has been investing in and supporting AMC in our joint mission to deliver commercially viable, affordable housing to people on low incomes in Pakistan since 2014. Through this partnership AMC has driven the affordable housing market – building homes, influencing policy and advising the government on delivering on its mandate to build five million homes by 2023.

This hard work has culminated in the start of AMC’s flagship project, Safiya Homes, based in Pakistan’s second largest city Lahore – which is one of seven Safiya Homes projects that AMC has been delivering through Reall’s investment over the past six years.”

Reall look forward to continued progress with AMC as we unlock affordable housing for hard working families in Pakistan.

Read more

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• Find out about Reall’s affordable housing projects on our Data Dashboard
• Read the real life stories of families who have had their lives transformed through Reall’s affordable housing
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