Walls & Futures Company Update August 2024
Walls & Futures REIT plc (Ticker: WAFR), the Ethical Housing Investor and Developer, provides the following update on recent developments.
Over the last three months, we have been working with several parties to engage with institutional investors who focus on the infrastructure and real estate sectors.
The announcement of a general election on 22 May 2024 caught most by surprise. It understandably paused the progress we were making until the outcome in July.
Fortunately, the government has been swift in outlining its plans and focusing on investing in social infrastructure. An overhaul of the planning system has been announced. Councils in England will be given mandatory housing targets, which, through local plans, will deliver 1.5 million more homes and associated infrastructure.
Due to the current state of the public finances, there is an anticipated need to partner with the private sector. We hope our social infrastructure focus, which includes affordable housing coupled with our ethically focused investment approach, will resonate with both investors and the government.
We will pick up the process in earnest after the August holidays. However, the scale and ambition of the fundraising will need to increase, which will necessitate further permission to issue more equity than we had previously sought.