New funding will support AMC in building over 1,300 homes and residential plots, transforming the affordable housing landscape in Pakistan
KARACHI, Pakistan--(BUSINESS WIRE)--#housing--Ansaar Management Company (AMC), a housing developer in Pakistan, announced the close of its seed funding round led by leading impact investor Insitor Partners. New funding will support AMC in delivering over 1,300 homes and residential plots, transforming the affordable housing landscape in Pakistan.
The housing shortage in Pakistan is expected to grow to 17.2 million homes by 2025. High-density unplanned settlements and slums are on the rise; both have little or no access to basic services, causing an array of environmental and health risks. AMC�s solutions address a critical gap in the market, generating large scale and tangible impact.
�Our mission is to ensure that every citizen, irrespective of their social status, has the opportunity to live in a safe and flourishing community. By combining our expertise in construction with our skills in enhancing quality of life, we deliver projects holistically from initial concept to completion. What makes AMC different is that our construction solutions are not just focused on buildings, but the social infrastructure and services as well. This might include medical facilities, schools, gardens, and more essential services such as access to electricity, clean water and underground sewerage. Ultimately, we build everything a community needs in order to thrive.� says Jawad Aslam, founder of AMC
The funds raised will support the company�s growth plans as it ramps up deployment into low-cost housing in Pakistan. AMC will work alongside a strong network of local and international commercial partners, including UK-based Reall Ltd and Places for People. AMC undertakes a collaborative approach to identify and develop solutions which are contextually tailored for each new development, and are adapted to the dynamic regulatory and political landscape.
The Pakistan government has committed significant investment into large infrastructure projects in the coming year, with the Finance Minister Shaukat Tarin pledging to spend $6 billion to boost economic growth. Pakistan's Ministry of Maritime Affairs has also made a recent commitment alongside the Chinese government to invest in infrastructure, in a new $3.5 billion development known as the Karachi Coastal Comprehensive Development Zone.
�We�re seeing a rapid rise in construction developments in Pakistan, and expect companies like AMC to play a huge role in meeting the demand for the underserved population. This emerging sector not only creates market returns for investors, but tangible impact for millions of families. We�re proud to be a part of the journey alongside Jawad and his team, and look forward to making more impact investments into the region.� - Hammad Umer, Pakistan Country Manager, Insitor.
The deal marks Insitor�s third impact investment into the country. As development across Pakistan continues to pique interest from international investment, more opportunities are expected to emerge to generate measurable social and environmental impact and address the most pressing challenges in the country.
About AMC:
Ansaar Management Company (AMC) is a pioneer of sustainable low-income housing in Pakistan. AMC has mobilized more than USD 30 million in foreign investment from globally renowned organizations including Reall (UK) and Insitor (Singapore). AMC projects are launched after obtaining all necessary NOCs and underpinned by well-planned civil infrastructure (inner roads, water & sewage system, and utility system) and social infrastructure (parks, school, clinic and commercial).
AMC has successfully undertaken more than eight projects across Pakistan including two model villages. Website: (https://amcpakistan.org/)
About Insitor Partners:
Insitor Partners is an Asia based impact investment firm (headquartered in Singapore) with a mission to back entrepreneurs building life-changing solutions for low-income consumers in developing Asia. Insitor Partners has made 27 investments across the region, providing direct impact to the more than 40 million people served by its portfolio companies across Cambodia, India, Myanmar and Pakistan.
For more information on Insitor Partners:
Website: (http://www.insitorpartners.com/)
Contacts
For more information:
Local Press Inquiries:
Jawad Aslam (CEO)
+923454136651
[email protected]
Global Press Inquiries:
Insitor Partners
Jacqui Hocking, +65 84545945
[email protected]
