The Pan African housing development financier, Shelter Afrique has offered Maison Super Development (MSD) a loan worth $18.5 million (Sh2.23 billion), for housing projects in the Democratic Republic of Congo.
The loan is set to finance projects such as Jumbo Office Building in Kolwezi, Alilac Office Building project and Munua Housing project both in Lubumbashi.
The projects are expected to be completed in the year 2022, 2023 and 2024 respectively.
This will contribute to the commercial and residential real estate in the area.
According to the lender, the move is part of its remedies targeted at urban regeneration.
"We offer support to the project by providing financial solutions that will help create a mix where affordable housing would exist with commercial spaces for business activities and employment," the lender said.
In a statement, MSD managing director Dharmendra Kumar lauded the support saying it is the third time Shelter Afrique has extended a line of credit to his firm since 2016.
“In relation to other projects that Shelter Afrique has co-financed, we are grateful for the partnership. This latest financing will enable us to change the face of Lubumbashi and Kolwezi one housing unit at a time,” Kumar said.
The lender has recently financed other housing projects in the DRC.
Among them, the Devimco’s 7-floor office buildings, La Tradition, Le Concorde, L’Ambassadeur, Azda and a 10-story building in Kinshasa developed by Elolo SPRL.
The move is to address the need for a sustainable housing delivery system and related infrastructure projects in Africa.