“Divercity has a unique mandate among South African property funds: it invests exclusively in inner-city urban regeneration with a focus on affordable rental housing. Given Mr Jackson’s wealth of experience in financing urban renewal through TUHF, we believe his presence will significantly add to the strength of the Divercity board and their ability to make the right strategic decisions as Divercity grows. Mr Jackson will also serve as independent member of Divercity’s investment committee, where his intimate knowledge of affordable residential housing as an asset class will complement the depth of expertise this committee already has,” said the board.
Divercity’s property development pipeline includes more than 3,000 affordable residential units and office and retail space. The properties include Newtown Junction Mall, Talis House, Turbine Hall in Johannesburg, and the Pan Africa Mall in Alexandra.
Jackson has welcomed his appointment to the board of Divercity. “I am delighted to join the Divercity board. Divercity’s property assets span a range of asset classes often in mixed use and mixed use income developments. I look forward to working alongside considerable property expertise on the board.”
Jackson has been TUHF’s CEO since inception in 2003 and has been involved in development finance since 1987. Prior to his appointment as CEO at TUHF, he held positions as senior operations manager at the JHC, general manager for the Transitional National Development Trust (TNDT) and divisional manager for southern Africa at the Development Bank of Southern Africa. Jackson has held board directorships on the Mvula Trust, Alexander Social Housing Company, Brickfields Housing Company, Johannesburg Social Housing Company and Centre for Affordable Housing Finance.