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February/24/2020
PGFM signed on May 17,2019, with the Republic of Liberia represented by the National Housing Authority, a construction contract for five thousand (250,000) social housing.PGFM construction will carry out the construction project of 250,000 homes at specific location as follows :20% Montserrado,30% Margibi,30% Grand Bassa,20% Nimba.The first phase will have 50,000 Housing units.
PGFM wishes the project to be carried out and financed by IIB Development Group, LLC and signed a contract on 11/11/2019 with IIB-DG.
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 PGFM
PGFM Group Liberia INC, a Co mpany duty registered under the laws of the Republic of Liberia and represented by its Chief Executive Otlicer, Madame Francoise Vianou Tchoukpa (hereinafter referred to as( Seller ) and located at MTC Tower, Sujte 101- 1,Room #2, Ashmun and Buchanan Streets, Monrovia, Liberia.
About Liberia
The Republic of iberia is a country in West Africa bordered to the south southeast and to the west-southwest by the Atlantic Ocean; to the northwest by Sierra Leone, to the n01ih by the Guinea and to the east by Cote d’Tvoire. The first African nation to have achieved independence in 1847, Liber ia has been chaired since January 22, 2018 by H.B.M George Manneh Weah.
Liberia’s population is estimated at 4,900,000 and the country, which is among the ten least developed countries in the world (with a human development index of 0.329 in 2011), is part of ECOWAS.
On the economic front, Liberia is st ill recovering from the recession caused by the Ebola virus (which killed around 5,000 people, caused a 90% collapse of the economy and estimated income losses of 12% of GDP), by falling commodity prices and the gradual withdrawal of the United Nations peacekeeping mission (UNMIL). A significant economic rebound was forecast for 2018 and 2019, but the TMF recently revised its estimates down due to increased macroeconomic instability and deteriorating monetary conditions. According to the IM , GDP growth reached 3.0% in 2018 and is expected to slow to 4.5% in 2019.
The economic outlook is positive, real GDP growth is expected to drop to 4.7% in 2019 and 4.8% in 2020, supported by modest growth in agriculture, fishing and services. Inflation is expected to decline further to 10.5% in 2019 and 9.5% in 2020, due to a stable exchange rate, prudent monetary and fiscal policies and a moderate increase in national food production. The current account deficit is expected to remain slightly above 22% in 2019 and 2020.
In terms of housing, Dberia has a growing housing finance sector. With an urbanization rate of 3.20%, demand for affordable housing will remain strong, both for rental and for purchase. Liberia has a population of 4.8 million and numerous studies esthnate the count,y’s annual housing shortage at 512,000 F2, F3 and F4 units.
It is in this context that the President of the Republic within the frameivork of the Pro-Poor Agenda for Prosperity and Development has made housing policy a priority of his mandate by promoting investments in this sector.
Media Contacts
Carolina Mateos
Corporate Affairs and Investor Relations
IIB Development Group
info@iibdevelopmentgroup.com
