Lhoopa Secures 80 Million Dollars to Fuel Affordable Housing Initiatives Across the Philippines
The Growing Problem of Affordable Housing
A lack of affordable housing has become a pressing issue worldwide, even in emerging markets with significant demand. This problem stems from traditional developers and real estate companies focusing on catering to those seeking luxury homes, while avoiding the substantial operating expenses associated with building affordable housing units.
Enter Lhoopa: A Game-Changing Solution
Lhoopa, a Singaporean-headquartered startup, is addressing this issue by leveraging technology and decentralized operations. Founded in 2018 by Marc-Olivier Caillot (co-founder and CEO) and Sabrina Tan (co-founder and president), the company has successfully launched its service in the Philippines, a market with an unfilled demand of around 6.5 million units for low-income earners.
Understanding Lhoopa’s Unique Approach
Lhoopa’s founders, who previously resided in the U.S., experienced firsthand the scarcity of platforms catering to affordable housing needs. According to Caillot, "Most people can afford an affordable home, but no one wants to build it for them because traditional developers believe they don’t make enough money out of it."
Affordable Housing Pricing
The average affordable house in the Philippines falls within a price range of $10,000-$35,000, targeting minimum-wage earners such as blue-collar, community, and factory workers. In contrast, houses sold in the country can range from $100,000 to luxury homes priced at $20 million or more.
Lhoopa’s Technology Platform
Lhoopa has developed a cutting-edge technology platform that utilizes machine learning and AI to analyze market trends based on data obtained from listings created by users. This innovative approach enables the company to:
- Identify underserved areas with high demand for affordable housing
- Provide tailored solutions for first-time homeowners and low-to-mid-income consumers
- Offer improved access to financing options for those in need
Lhoopa’s Impact on Affordable Housing
With its new funding, Lhoopa aims to provide over 15,000 affordable homes in the Philippines alone within the next three years. According to Jean-Marc Arbogast, country manager for the Philippines at IFC, "With this new partnership, we hope to help close the gap in affordable housing and promote inclusive development by supporting a company that provides digital solutions to first-time homeowners and improved access to financing for low- to mid-income consumers."
Conclusion
Lhoopa’s innovative approach has the potential to transform the affordable housing landscape. By leveraging technology and decentralized operations, the company is poised to make a significant impact on addressing this pressing global issue.
About Lhoopa
Lhoopa is a Singaporean-headquartered startup that aims to provide affordable housing solutions using technology and decentralized operations. Founded in 2018 by Marc-Olivier Caillot (co-founder and CEO) and Sabrina Tan (co-founder and president), the company has successfully launched its service in the Philippines, targeting minimum-wage earners such as blue-collar, community, and factory workers.
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