SURREY, BC / ACCESSWIRE / January 24, 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.'
The Mannkind Girls to Grannies Village in the Steung Meanchey district of Phnom Penh, Cambodia.
'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.
About PROPetual REIT
Capital that builds. PROPetual REIT is a private Canadian real estate investment trust that provides investors direct access to qualified development opportunities across Metro Vancouver. We help investors to diversify their portfolio while maximizing socio-economic impact through high-quality contributions to the built environment. PROPetual REIT is eligible for investment through registered accounts in British Columbia, Alberta and Ontario. To learn more about how to invest in PROPetual REIT, visit propetualreit.com.
About World Housing
World Housing's vision is to end global homelessness and provide a home for everyone. World Housing builds and gifts homes to families living in poverty around the world and believes that safe homes provide the stability needed to transform lives forever. Providing homes to families living in absolute poverty, is the pivotal change so the next generation grows up happy, healthy, with increased access to resources that create long term sustainable change.
World Housing holds charitable status in Canada and is a registered 501 (c) (3) organization in the United States, and is based in Vancouver, BC. 100% of all funds raised by World Housing are used to build homes for families in need.
About Isle of Mann Property Group
Founded in 1994 as a modest developer of single-family homes, today Isle of Mann represents a vertically integrated commercial and residential property group. We leverage our experience and deep knowledge of real estate fundamentals to competently execute across the full spectrum of development, investment, and asset management. For more information visit: iompropertygroup.com.
About Mannkind Charitable Society
Mannkind Charitable Society works to provide impoverished children in developing countries with a safe and caring environment through which to explore the world. In addition to basic needs and health care, we facilitate access to education, athletics, arts, and spiritual learning - the keys to breaking the cycle of systemic ignorance that seeks to divide us. To this end, we consider it our duty and privilege to empower the next generation of informed leaders who will actively promote an agenda of empathy, kindness and compassion - for the benefit of all mankind. For more information visit: mannkindcharity.org.
This communication is for information purposes only.
Alyssa Barry, Media and Investor Relations
Sam White Communications & Partnerships
The information contained in this news release is for informational purposes only; is not investment, financial or other advice; and is not intended to be used as the basis for making an investment decision. This news release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall any part of this news release form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of PROPetual REIT. This news release does not constitute any form of commitment, recommendation, representation, or warranty on the part of any person. No reliance should be placed on the completeness of the information contained in this news release. This news release is not intended to be a comprehensive review of all matters concerning the REIT. Please visit https://propetualreit.com/about for more information.
This news release contains forward-looking information regarding the REIT and its business, which relate to future events or future performance and reflect current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as 'expect', 'intends', 'anticipated', 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would' or 'will' be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the Company's ability to bring its products to commercial production, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company's products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.
SOURCE: PROPetual Real Estate
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