EUROAM - Sandton

Formed in 1984 in the State of Delaware (U.S.A.), EuroAm's core business was arranging finance for real estate projects in the United States. It was also involved in various other business activities in Europe, the United States and the Far East. In 1994, the company's head office moved to Africa. Starting in South Africa which had just held its first free, democratic elections, EuroAm entered the affordable mass-housing market. The new government had the daunting task of addressing many social issues as a result of the previous Government’s policies, not least of which was that of housing. EuroAm began working on its own initiative to create a combination of affordable quality densification housing projects with a financial solution at the core. In 1999 the Presidential Job Summit on  

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Housing Projects in South Africa proposed constructing a total of 150 000 housing units comprising 5 000 houses in each project. EuroAm, through its wholly-owned subsidiary, Witbank Housing Corporation, was selected as one of the first three developers and, in November 2002, Witbank Housing Corporation commenced construction of the first Presidential Housing Project. The Witbank Housing Initiative has become EuroAm's model for its stated goals and is being "exported" to a number of other countries in Africa, notably the West African countries.