Ukrfinzhytlo, Revive begin work on affordable housing program for workers in critical sectors
The Ukrainian Financial Housing Company (PrJSC Ukrfinzhytlo) and the European investment fund and developer Revive signed a memorandum of understanding on launching an affordable housing program for middle-income households and workers in critical sectors, the press service of Ukrfinzhytlo reports.
The release says that Revive will draw on its 15 years of experience implementing affordable housing projects in Western and Central-Eastern European countries. The collaboration aims to create a scalable model of affordable housing for Ukrainians who are employed but cannot afford market-rate housing and do not qualify for any categories under the eOselia affordable mortgage program.
"Working with Revive is an important step in expanding housing solutions in Ukraine. Combining our experience administering the eOselia program with Revive’s European expertise in affordable housing development and fund management will allow us to create a sustainable model that supports workforce retention, economic recovery, and community development," said Yevhen Metzger, chairman of the board of Ukrfinzhytlo.
The workforce housing segment is especially relevant in the context of Ukraine’s reconstruction. The full-scale war forced many companies to relocate their businesses to safer regions, leading to workforce relocation and a shortage of affordable housing. Employers increasingly face difficulties attracting and retaining staff, particularly in small communities and suburban areas.
The press service of Ukrfinzhytlo clarified that the program concept is still under development. According to the concept, the housing will be intended for employees whose companies deem it necessary to build residences near their production facilities or workplaces. These companies could be from any sector, including agriculture or mining.
Revive plans to implement sustainable and energy-efficient construction solutions, with a focus on quality, affordability, and social impact. Nicolas Bearelle, founder of Revive and chairman of the Urban Land Institute Belgium, emphasized that combining the expertise of a regulated fund manager with the practical experience of a developer adds value in creating an institutional platform for affordable housing in Ukraine.
Halyna Permiakova, director of Emerge Impact Real Estate B.V., said the partnership will serve as a foundation for attracting capital from international financial institutions and private investors to establish a workforce housing platform with clearly defined social objectives.
