Eris is the appointed developer and a fund advisor to MAREF, a $205m institutional real estate fund that finances and develops Grade A office blocks, warehouses and shopping malls in sub-Saharan Africa excluding South Africa. MAREF is a joint venture between sister companies Momentum Global Investment Management (in London) and Eris. Both Momentum and Eris are subsidiaries of Johannesburg-listed MMI Holdings Limited, Africa’s third largest life insurance company.

MAREF currently has $400m (including debt funding) available for investment into new projects. Whilst the fund has the mandate to invest across the entire sub-Saharan Africa ex SA region, priority countries include Ghana, Nigeria, Cote d’Ivoire and Kenya. MAREF has a green focus and has committed to follow IFC’s EDGE principles on all projects. The fund won the GBB West Africa Real Estate Investor of the Year in 2018.

To date, Eris has completed three projects for MAREF: Mon Tresor Business Gateway, Phase 1A in Mauritius and 335 Place & SU Tower in Accra, Ghana. All three developments were delivered on time and on or under budget in 2018.