Inclusio fund: Improving access to affordable and energy efficient housing for marginalized communities

March 10, 2015

Fund summary

In 2015, KOIS, Degroof-Petercam and Revive co-founded Inclusio with the aim to provide affordable, quality and efficient rental housing for low-income populations in Belgium.

Providing low-income belgians with high quality, sustainable housing

As Belgium’s rental prices continue to rise, it is becoming increasingly difficult for people with low incomes to find housing. In fact, there is a shortfall of 183,000 units of affordable housing in the country. The financial problem for tenants is made even more acute when buildings are not energy efficient, thereby leading to heavy monthly utility bills – on top of the negative environmental impact.

KOIS, together with Belgian largest private bank Degroof Petercam and real-estate developer Revive, co-founded Inclusio in 2015, a privately-funded investment company providing affordable high-quality rental housing for people with low incomes.

Fund characteristics

Launch

2015

Assets under management

€ 91M

Size of investments

€ 2M

Target yield

3,5%

Note: Last updated April 2020

A sustainable housing impact fund that benefits society & investors

It does so, in mostly developing energy efficient buildings, to lighten the environmental footprint but also decrease tenants’ running costs. It buys, builds or renovates housing units and rents them to public social real estate agencies. These in turn rent the housing units to low-income tenants. The agencies take a long-term lease of at least nine years, decreasing Inclusio’s leasing risk by guaranteeing complete occupancy.

Inclusio was launched in 2015 and has since raised € 91 million from institutional and private investors in Belgium. Approximately 25% of Inclusio’s units are reserved for particularly vulnerable populations. Inclusio partners with social service providers with effective reinsertion methods, ensuring that they are doing well and have a support network in place.

Inclusio is a certified B-Corp, thus meeting rigorous social and environmental performance standards, ac- countability, and transparency.

The fund’s impact

affordable housing units under management

housing units under construction

residents

average monthly rent

Note: Last updated April 2020

Discover our other projects

miDiagnostics: creating the future of diagnostic care

miDiagnostics: creating the future of diagnostic care

Today, ensuring a fast diagnosis of the high number of patients to avoid transmission is critical. Unfortunately, diagnoses are highly time-consuming and hard to get for people in more remote areas. In fact, most accurate diagnostics require drawing blood, sample preparation & lab work. This can result in a long time between testing & treatment. It also means patients cannot be followed-up at home and that carrying out fast & accurate testing in the field is very difficult.

Preventing family separation in Indonesia

Preventing family separation in Indonesia

In Indonesia, approximately 2.15M children live without their parents. Yet, 90% of them have at least one parent alive. The underlying reasons are numerous and complex, but they mostly relate to poverty and lack of access to social assistance.

A Development Impact Bond could help bring a solution to this issue. In this scope, KOIS supported two foundations with the structuring of a DIB to test an innovative, cost-efficient and scalable model of family separation prevention.

Raising capital to improve healthcare via access to clean and cheap energy

Raising capital to improve healthcare via access to clean and cheap energy

For too long, a lack of reliable power has prevented people in remote and rural communities from accessing the healthcare they need. KOIS is designing an innovative financing mechanism to scale up UNDP’s Solar for Health initiative. In fact, S4H helps governments in providing clean energy access for health facilities by installing PV systems.