Casa Real’s affordable housing project is finalist in API Awards
Reall are proud that our partner, Casa Real, was a finalist for the Best Affordable Housing Project Award by Africa Property Investments (API) at their annual API Summit.
The outstanding delivery of affordable homes at their Reall-funded project, Villa Real in Mozambique, showcases the ground-breaking developments achieved in housing finance solutions, climate resilience and affordability by the Casa Real team.
Patrick Domingos-Tembwa, Africa & Asia Partnership Director at Reall, said; “We are absolutely delighted that our Mozambique based partner, Casa Real, was finalist for an API award in the Best Affordable Housing category. This is testament to Casa Real’s work over the past year and a half in the delivery of climate-smart, quality housing that is affordable for Mozambicans.
We are proud of our collaboration with Casa Real and look forward to continued engagement to help develop a sustainable, affordable housing sector in Mozambique”.
Richard Bahumwire, Executive Director at Casa Real said; “It is great to receive sector-wide recognition for our hard work delivering affordable, climate-smart and secure homes at a price that is affordable for a typical Mozambican family.
The success of Villa Real is a testament to our staff, contractors and partners and the ongoing support we receive from Reall. We are excited to continue to work with Reall, to scale up our impact across Mozambique”.
Casa Real’s impactful Villa Real housing site in Beira, champions:
- Financial innovation – Casa Real have established an innovative lease-to-buy model with Bank Absa-Mozambique, the first mortgage product of its kind in Mozambique. The first ever low-income mortgage in Mozambique is evidence of Casa Real’s proven housing finance model that unlocks home ownership for low-income earners
- Affordability – Site homes are accessible to the bottom 40% of income earners in Mozambique, with prices starting at just $10K per unit. All houses are equipped with indoor water, electricity, and sanitation at no extra cost
- Opportunity – These safe, quality homes are life-changing for families. Situated within walking distance to a school, hospital, local markets and employment hubs
- Resilience – Casa Real homes are constructed to ensure built-in resilience to climate shocks – providing protection to vulnerable communities. In 2019 Casa Real homes withstood Cyclone Idai, while over 90% of buildings in the city of Beira sustained major structural damage
Recognition of Casa Real’s outstanding delivery of climate-smart, affordable homes is a prominent step towards the continued development of green, commercially viable housing solutions. Reall are proud of our collaboration with Casa Real and look forward to working together, as we build a clean, green home for human potential.