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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."
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