Three Decades of Innovative Affordable Housing

Three Decades of Innovative Affordable Housing

Over the past two decades, we have invested over $80m in affordable housing projects across Africa and Asia, delivering over 15,000 homes for households on lower incomes. Working in very different contexts, and through a constantly evolving model, has led to many exciting and innovative housing projects.

Focusing on the themes of Green, Gender, and Finance, we’re shining a light on our diverse global portfolio…

1. Mumbai’s Slum Redevelopment: Leveraging Transferable Development Rights (Finance)

In collaboration with SPARC Samudaya Nirman Sahayak (SSNS), we initiated a slum redevelopment program across Mumbai and in Dharavi, Asia’s largest slum. By employing a participatory model and utilising Transferable Development Rights, our initial $5 million investment leveraged $17 million in TDR payments, resulting in the construction of 2,370 homes.

2. Revolving Guarantees for Self-Build Housing in Nepal (Finance)

Partnering with Lumanti and Sewa in Nepal, a collaboration with mainstream banks to provide loan finance for incremental self-build housing was facilitated. Through guarantees covering potential losses, our $1.3 million funding kickstarted a successful initiative that has led to the construction and upgrading of approximately 1,500 homes, with the funds continuing to revolve.

3. Karachi’s Green Revolution (Green)

Teaming up with cleantech housing company ModulusTech, we are pioneering one of Pakistan’s greenest housing communities in Karachi. These homes achieve remarkable energy and water savings, 90% lower embodied carbon, and cost at least 30% less than conventional homes, providing both sustainability and affordability. 

4. Gender-Inclusive Design in Kenya (Gender)

In Nairobi, we are collaborating with Zima Homes to deliver green, affordable housing with a focus on gender inclusion. Transparent policies, women’s representation in design decisions, and gender equity on construction sites ensure a holistic approach – with 74% of sales going to women. This initiative aims to create homes that cater to the diverse needs of the community.

5. Green Affordable Housing Finance in Kenya (Green, Finance)

With support from the Global Innovation Lab for Climate Finance, we are trailblazing a financial instrument to address climate and affordability challenges. By capitalising on guarantee funds and enabling environment facilities, we aim to unlock local investment, providing a sustainable and financially viable approach to unlock green affordable housing at scale. 

Want to know more? Explore the transformative impact of Reall’s housing projects, where innovation meets social impact here