IIB-DG Africa signs MOU with Agence de Cession Immobiliere (ACI), Republic of Mali, for financing, construction of 50,000 affordable housing ,value of USD1.5 Billion ,using IIB-DG `s mass production housing construction technology
Affordable Housing Construction in the Republic of Mali
IIB-DG Africa
signs MOU with Agence de Cession Immobiliere (ACI), Republic of Mali, for financing, construction of 50,000 affordable housing ,value of USD1.5 Billion ,using IIB-DG `s mass production housing construction technology
March 07,2020
IIB-DG Africa signs MOU with Government of Mali represented by Agence de Cessions Immobilières (ACI) for financing, construction and development of the project by IIB-DG.
- The MOU envisages construction of 50,000 social housing units
- The project is estimated to cost USD1.5 Billion when completed
- Units to sell between USD15,000 and USD25,000 when completed
Agence de Cessions Immobilières, IIB Development Group, LLC, and the Ministry of Housing, Town Planning and Social Housing of the Republic of Mali have concluded a Memorandum of Understanding relating to construction 50,000 units of economic, medium and high standing type on serviced sites with a subdivision plan approved by the competent authorities,
The MOU was signed in Mali by IIB-DG Africa and by Agence de Cessions Immobilières, (ACI), represented by its Chairman and CEO, Mr. Mamadou Tièny KONATE, duly empowered.
This partnership helps government of Mali to address the housing needs in Mali substantially by boosting the supply of affordable housing to the lower end of the market.
With this partnership with IIB-DG AFRICA, the government will be able to reduce the cost of housing units considerably and provide houses selling as low as USD15, 000 – which we believe will be affordable to many Maliens.
Within the framework of the national housing policy, the ACI plans with IIB-DG, financing, design, execution, construction of 50,000 housing units, known as the DEVELOPMENT OF 50,000 AFFORDABLE HOUSING, referred to herein “The Housing Construction Project” contract. The Project must be executed by the IIB-DG with respect to finance, design and execute works in accordance with this agreement, physical infrastructure works and social equipment.
Agence de Cessions Immobilières (ACI) on behalf of the government of Mali, on the other hand, has committed to providing land & appropriate infrastructure.
About IIB-DG Africa
IIB Development is a consortium of US based companies specializing in financing and infrastructure development. IIB Development Group brings together experts in synergistic industries to develop turnkey innovative solutions in infrastructure and development – housing, roads, water and wastewater, energy, railways as well as financing of all these projects
IIB Development Group is a centre of excellence for financing and infrastructure development at affordable levels using environmentally sustainable approaches, which meet the growing needs of developing countries. IIB-DG offer state of the art, innovative and affordable technology and work with the governments and local partners including where possible, setting up manufacturing plants locally to produce building units for residential and commercial structures.
For over 40 years, DR. Horton, a member of IIB-Development Group has been building, constructing, producing machines and transferring technology to its customers all over the world. DR. Horton is listed in all magazine as the Number #1 Home Builder in America and the world with billion revenues per year.
IIB Development Group is a leading provider of an innovative building system capable to reduce construction time in the high-scale housing projects, thus offering a strong solution in the socio-economic development of emerging markets throughout the world. Building system allows fast, efficient, and large-scale construction through the construction of innovative products and processes.
About IIB-DG ACI
Agence de Cessions Immobilières (ACI) is a government of Mali agency intended to provide low income housing. The mandate of ACI is to play a principal role in the implementation of the Government’s housing policies and programmes. Its vision is to develop standards, policies and technology to improve housing through formulating public private partnership to access resources for implementing housing projects in Mali.
Media Contacts
Carolina Mateos
Corporate Affairs and Investor Relations
IIB Development Group
info@iibdevelopmentgroup.com