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The world's richest people are putting their money where their mouth is, in the form of real estate.
The world's richest people are putting their money where their mouth is, in the form of real estate.
The Bill and Melinda Gates Foundation has allocated $500 million to the Dutch Social Impact Real Estate Partnership, a joint venture between the foundation and real estate company Bouwinvest, to develop affordable housing in some of the world's poorest countries, the Telegraph reports.
The project's first development will be in the Dominican Republic, where the Gateses plan to build 2,000 homes for the poor over the next five years.
The world's richest people are also putting their money where their mouth is, in the form of real estate.
"Every society has an interest in a sustainable built environment, a place where everyone can find affordable and appropriate housing," the president of the foundation, known as BpfBOUW, said in a statement.
"Impact investing in real estate can reduce housing shortages and generate major social gains."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Together TV, the Channel that Helps You Channel Your Inner Good
Caroline Diehl is a serial social entrepreneur in the impact media space. She is Executive Chair and Founder of the UK’s only charitable and co-operatively owned national broadcast television channel Together TV, the leading broadcaster for social change runs a national TV channel in the UK and digital platform which helps people find inspiration to do good in their lives and communities.
