PROPetual REIT Commits to 100% Funding of New Community Construction in Developing Countries with World Housing Foundation
Surrey, British Columbia, Canada, January , 2022 – PROPetual (Venture 2021) Real Estate Investment Trust (“PROPetual” or the “REIT”), a private Canadian real estate investment trust powered by Isle of Mann Property Group, has entered into a partnership with World Housing Foundation to develop projects that build communities for families in dire need of safe, secure housing in developing countries across the world. As part of PROPetual’s commitment to global citizenship, together with World Housing, the REIT is centering its social impact strategy on helping some of the world’s most destitute communities.
“We consider it our duty and privilege to share our wealth of resources with those who need it most,” said Ravi Mann, President of PROPetual REIT. “As conscious agents of change, PROPetual’s investment mandate was established not only to maximize value for our investors, but to seek out meaningful opportunities that would lead to profound social impact on a global scale. Partnering with World Housing is a natural fit, especially considering our positive experience working together on the ‘Mannkind Girls to Grannies Village’ in Cambodia,” Ravi explains. “There is a direct alignment of values and a clear connection to the socio-economic impact that PROPetual seeks to achieve at the local level. As a result, PROPetual is committing to 100% funding of a new World Housing community for each new residential development project we bring to the market. Through this partnership, our investors can be part of a global shift from apathy to empathy and compassion, one community at a time.”
“We are beyond elated at this unprecedented commitment by PROPetual REIT toward the World Housing vision,” said Don McQuaid, Managing Director World Housing. “This partnership will transform the lives of countless families living in absolute poverty, and lead to lasting community benefits for generations to come, the likes of which Isle of Mann have witnessed first-hand. Through the philanthropic mandate of the Mann Family’s ‘Mannkind Charitable Society,’ in partnership with World Housing, over 50 homes have already been built in Cambodia to radically improve the lives of women previously living in unimaginable conditions. As an extension of the Isle of Mann Property Group, we are excited to collaborate with PROPetual and to continue to transform the lives of even more families in 2022 and beyond.”
Capital that Builds: A Commitment to Investors and Social Impact
As responsible global citizens, PROPetual follows the longstanding Isle of Mann tradition of contributing to the betterment of society at large. PROPetual is a private real estate investment trust devoted exclusively to making land development investment opportunities accessible to everyone and seeks to shift the pure profit-seeking norm of its peer group toward creating long-term and sustainable social impact. Through PROPetual’s partnership with World Housing, the benefits of land development investment are no longer restricted to the local communities in which they are built—as capital builds for investors, PROPetual is also building communities for the world’s poorest families.
Girls to Grannies Village
Established in 2009 by Isle of Mann Founder and President, Dave Mann, it is Mannkind’s goal to develop a generation of leaders who promote an agenda of empathy, kindness and compassion through access to health care, education, and spiritual learning.
Mannkind Charity partnered with World Housing and Cambodian Children’s Fund to build the Mannkind Girls to Grannies Village in the Steung Meanchey district of Phnom Penh, Cambodia. The village offers a stable, healthy place for girls who have been orphaned or abandoned to live in as they pursue their education; grannies of the nearby communities stay in the village to nurture the younger women and girls. In February 2021, 200 women and children who lived in poverty moved into the Mannkind Girls to Grannies Village. The village consists of 50 homes along with a pagoda, library, sports field, playground, community garden, and security gate with a full-time security officer, thereby allowing children to be cared for in a safe and dignified environment
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