Housing Overview

Access to safe, adequate and affordable housing is one important part of transforming cities to be sustainable. OMAI aims to contribute positively to the housing backlog through its three housing funds. The Housing Impact Fund South Africa (HIFSA) and Old Mutual Rental Housing Investment Fund Two Ltd (OMRENT) focus on providing affordable residential accommodation and student beds. The Old Mutual Retirement Accommodation Fund (OMRAF) focuses on retirement accommodation for the middle- and upper market. Across the portfolios there was an increase of 11% in EDGE certified housing units, with 43% of the greenfields rental portfolio being EDGE certified. EDGE is a green building certification. This equates to operational savings in carbon emissions of 2,328 tCO2 equivalent per annum.  HIFSA and OMRENT achieved affordability of 83% and 76% in 2021, providing housing units in terms of the Financial Sector Charter (FSC) to people earning less than R26,100 per month. 

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7,754

Student beds

76

Frail care beds

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Impact Investing Overview

Access to safe, adequate and affordable housing is one important part of transforming cities to be sustainable. OMAI aims to contribute positively to the housing backlog through its three housing funds. The Housing Impact Fund South Africa (HIFSA) and Old Mutual Rental Housing Investment Fund Two Ltd (OMRENT) focus on providing affordable residential accommodation and student beds. The Old Mutual Retirement Accommodation Fund (OMRAF) focuses on retirement accommodation for the middle- and upper market. Across the portfolios there was an increase of 11% in EDGE certified housing units, with 43% of the greenfields rental portfolio is EDGE certified. EDGE is a green building certification. This equates to operational savings in carbon emissions of 2,328 tCO2 equivalent per annum.  HIFSA and OMRENT achieved affordability of 87% and 78% respectively in 2021, providing housing units in terms of the Financial Sector Charter (FSC) to people earning less than R26,100 per month. 

7,754

Student beds

76

Frail care beds

HIFSA

The HIFSA Fund Manager commissioned an audit of the transferred units in the greenfields portfolio. The audit will be finalised by end 2022. The number of units will be updated accordingly as per the findings of the audit.

The portfolio consists of:

  • 24 greenfields projects containing some 40,000 potential housing opportunities, including two retirement villages. A total of 892 housing units were transferred in 2021, bringing the total since inception to 19,494.
  • 13 rental portfolios, including specialized student accommodation.
  • End-user mortgage book with 1,599 loans, 78% of which are in the affordable market.

7,754

Student beds

6,676

Rental units in the portfolio

OMRAF

The Old Mutual Retirement Accommodation Fund (OMRAF) aims to address the unique accommodation needs in the South African retirement market by investing in retirement accommodation development and acquisitions. As of December 2021, the fund had six investments which included life-right, sectional title, rental and freehold assets. Retirement units developed increased by 36% in 2021, while rental units increased by 45%. A new development was concluded in 2021, which added 160 life right units to the portfolio. Preliminary EDGE certification was received on 248 retirement units.

30

Frail care beds

OMRENT

Old Mutual Rental Housing Investment Fund Two Ltd (OMRENT) aims to acquire and hold residential property for the purpose of letting, focusing on the affordable market. As of December 2021, the fund had four investments comprising of 591 rental units. A further investment was approved in 2021 to acquire 188 rental units in Kuilsriver, Cape Town. The affordability of the OMRENT units is at 78%. 82 units achieved EDGE green building certification which translates into a saving in carbon emissions of 75 tCO2 equivalent per annum. 

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About Alternative Investments

Old Mutual Alternative Investments (OMAI) is one of Africa’s largest private alternative investment managers in private equity, impact investing and infrastructure funds. Established in South Africa in 2000, OMAI is a member of the Old Mutual Group, founded in 1845.

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