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Walls & Futures REIT PLC (LON:WAFR), known for its focus on ethical housing investment and development, has provided an update on recent activities. Over the past three months, the company has been engaging with institutional investors specializing in the infrastructure and real estate sectors.
Impact of the General Election
The announcement of a general election on 22 May 2024 temporarily halted progress as it delayed discussions and planning until the results were confirmed in July. The election’s outcome has since led to a government focus on investing in social infrastructure, including a planned overhaul of the planning system.
Government Plans and Housing Targets
The government has introduced mandatory housing targets for councils in England, aiming to deliver 1.5 million additional homes and associated infrastructure through local plans. This initiative reflects a broader commitment to addressing housing needs and social infrastructure.
Private Sector Collaboration
Given the current public finance situation, there is an anticipated need for collaboration with the private sector. Walls & Futures REIT plc’s emphasis on affordable housing and its ethical investment approach are expected to align with both investor interests and government priorities.
Fundraising and Equity Issuance
The company plans to resume its fundraising efforts after the August holidays. To meet the increased scale and ambition of this initiative, Walls & Futures will seek approval to issue additional equity beyond what was previously planned. As the process progresses, the company will provide updates on its activities. More detailed information will be available following the publication of the annual report and accounts for the year ending 31 March 2024, which is expected in September.
