Symposium on the Investment in Public Housing Projects in Africa

In collaboration with the embassy of a West African country in China, Xiamen Victwo BizTech Co., Ltd. hosted on March 28th, 2023 a symposium on the investment in and cooperation on the public housing projects in the country. The symposium was attended by officials from the country's housing authority and representatives of our partner companies such as Hiteknova (Xiamen) Intelligent Technology Co., Ltd.  

Under the direction of the commercial counselor of the embassy, Mr. Aguifil, director of the country's public housing authority, provided a detailed introduction to the status quo of public housing construction in the country. He said that in the next 20 years, the country needs to build 2 million units of public housing, mainly consisting of two-bedroom units with an area of 85 square meters and three-bedroom units with an area of 95 square meters. The sale prices for the two types of units are around RMB 120,000-150,000, and the total investment for the projects can reach around RMB 200 billion. Currently, several foreign companies, including those from China, are already working on the construction of public housing in the country. Officials from the housing authority expressed their readiness to welcome more Chinese companies to participate in the initiative. Mr. Chen Xin, general manager of Hiteknova (Xiamen) Intelligent Technology Co., Ltd., introduced the company's digital prefabricated building technology and prefabricated building services and expressed the company's desire to participate in the public housing construction projects in the country.  

Subsequently, the Chinese companies raised some specific questions about the public housing construction projects, and the foreign officials answered one by one. After the symposium, Victwo will continue to work with partner companies such as Hiteknova on specific matters such as due diligence, risk control, financing, investment option, etc., in a bid to help our partner companies take part in the said projects as soon as possible.  

On the heels of striking a foreign market service agreement with Hiteknova in the second half of 2022, Xiamen Victwo BizTech Co., Ltd. (Xiamen BRICS+ Technology Accelerator) has assisted the company in entering into letters of intent to cooperate on engineering construction projects with clients from ASEAN and Africa, with total value topping RMB one billion.