The world's population will increase from 7.2 billion today to 8.1 billion in 2025. If current trends in urbanization and income growth persist, the affordable housing gap would grow from 330 million households to 440 million by 2025, leaving at least 1.6 billion people living in substandard housing. There is no denying we are experiencing an expanding global housing crisis exacerbated by mass migrations due to climate change and conflict on top of exploding local populations in the emerging markets. The scarcity of truly affordable housing created a global housing crisis that cannot be solved by conventional private sector development methodologies.
Among lower-income people (over 4 billion), alternative housing schemes such as incremental building are often the only available option. In Africa, over 85% of households can’t afford formally constructed housing.
In developing countries, 93% of adults don’t have access to formal housing finance; yet households at the bottom of the economic pyramid are earning an income and represent $5 trillion of annual latent capital globally.
60-90% of the construction workforce in developing countries are unorganized and informal, and participants of the shadow cash economy. In India, 97% of women and 89% of men employed in construction jobs are part of the informal workforce.
What does this mean?
The scarcity of truly affordable housing created a global housing crisis that cannot be solved by conventional private sector development methodologies. There is little to no institutional transparency nor a trusted medium in which to securely and reliably transact for construction related services. Since the eco-system in not formalized, it is disconnected and inefficient. The majority of construction workers and customers transact in cash, with little recourse and high risk of inferior quality or incomplete projects.
iBUILD is a powerful, mobile platform that closes the gap in affordable housing production by Empowering the World to Build™.
iBUILD is a C2C market disruption tool that connects people in need of shelter with masses of construction-related people looking for work and facilitates open access to housing support services that guide individuals through the housing (re)construction process. iBUILD creates open and fair access to meaningful work through a localized construction marketplace coupled with a transparentecosystem of support that improves consumer access to mortgages and micro finance, construction plans and a dynamic marketplace of contractors, workers and suppliers to all; iBUILD provides a mobile wallet solution so that every individual has the power to transact and immediately improve the security and adequacy of their own shelter according to individual need.
Institutional Partners. Transparency of funding disbursements through the virtual wallet is a key feature for our banking and financial lending partners on the platform. Diversion of funds is a major detractor of investment in the mortgage and housing construction sector. iBUILD provides the data analytics and project reporting necessary for mitigating risk and analyzing the marketplace.
Natural Disaster and Housing Reconstruction. The disbursement of disaster recovery funds to victims struggling to rebuild after natural disaster occurrences and geopolitical conflicts is also burdened by diversion of appropriated capital, a massive hurdle in reconstruction efforts. iBUILD uniquely solves these problems for primary players in the micro-finance construction loan and disaster recovery space.