We are pleased to announce that Urban Kraal Housing Fund I achieved its first close on 17 August 2022, with a commitment of R210 million from anchor investor Thuso Incubation Partners.
As a unique South African social infrastructure unlisted real estate impact fund, Urban Kraal Fund I develops and invests in affordable housing and student accommodation. The Fund is managed by Urban Kraal Capital, a majority women-owned and led investment fund manager providing discretionary investment management, advisory and administrative services to the Fund.
According to Urban Kraal Founder and Managing Director Neo Mokhobo, the Fund is targeting R750 million assets under management by April 2024. “We are delighted to have achieved this milestone and look forward to using property development as a tool to transform lives in South Africa,” said Mokhobo. She further stated: “Our purpose is to invest in affordable housing and student accommodation that generates returns for investors, while at the same time driving significant social upliftment, firstly through job creation and skills transfer, and then by making safe, affordable living spaces available, where before there were none.”
As fund managers with over two decades of experience in real estate development and investments, Urban Kraal Capital has in-depth insights into the South African property landscape and understands the level of expertise required to lead risk-adjusted returns, generate long-term capital appreciation, and make a significant social impact. The hybrid nature of the Fund’s offering provides inclusivity and diversification, while at the same time addressing key market challenges in South Africa.