Lhoopa and ADB sign $20M deal pushing for green affordable housing
MANILA, PHILIPPINES – In a groundbreaking move to address the pressing housing shortage while promoting environmental sustainability in the Philippines, Lhoopa, Inc. and the Asian Development Bank (ADB) have forged a pioneering partnership. Through a loan agreement of up to $20 million, this collaboration aims to revolutionize the landscape of affordable housing by focusing on sustainable solutions that cater to underserved Filipinos from SEC D.
Lhoopa’s innovative approach combines the use of their proprietary digital platform for identifying potential demand and engages with over 100 local small-scale contractors and 4,000 real estate agents to supply that demand. This not only promotes local employment but also ensures that the housing solutions are accessible. Lhoopa has the goal of delivering up to 4,000 houses annually by 2025 and 8,000 by 2028.
ADB Director General for Private Sector Operations, Suzanne Gaboury, highlighted the significance of this project, marking it as ADB’s first private sector housing project in the country. Gaboury emphasized the project’s alignment with ADB’s mission of fostering a resilient and sustainable Asia and the Pacific. “This is ADB’s first private sector housing project in the Philippines, and Lhoopa is a fitting partner as it caters to people who are often unable to adapt to the impacts of climate change. The project not only provides livable spaces for these communities, but also enhances their climate resilience,” Gaboury stated.
Marc-Olivier Caillot, Founder of Lhoopa, expressed his enthusiasm for the impact this deal will have on Filipino families: “With the ADB facility, we will be able to provide thousands more affordable homes to Filipino families. Having such an esteemed institution by our side puts us on a global stage and will allow us to apply our technological solutions on a larger scale, thereby impacting more lives in the process.”
About Lhoopa, Inc.:
Lhoopa is revolutionizing the Philippine real estate landscape through its innovative approach to providing affordable housing. As a technology-driven firm, Lhoopa leverages its digital prowess to identify housing demands across the nation, ensuring efficient delivery of sustainable homes to underserved markets. Collaborating closely with state-owned and private entities, including the Home Development Mutual Fund (PAG-IBIG), Lhoopa is dedicated to its mission of democratizing access to quality housing for low-income earners in the Philippines. With a track record of rapid growth and an ambitious vision for the future, Lhoopa stands as an example of high-impact entrepreneurship in the real estate sector and the Philippines. Lhoopa is a portfolio company of Endeavor, the leading community of, by, and for high-impact entrepreneurs.
About the Asian Development Bank:
The Asian Development Bank is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.