Reall Limited

Quick Stats

• Annual Expenditure: £12.7 million (latest available)
• Founded: 1989 (as Homeless International; rebranded as Reall in 2014)
• Charity Number: 1017255
• Geographic Focus: Kenya, Nigeria, Uganda, India, Pakistan (priority countries), plus Angola, Burkina Faso, Malawi, Mozambique, Nepal, Philippines, South Africa, Sri Lanka, Tanzania, Zambia, Zimbabwe, Ghana
• Partner Network: 25+ implementing partners across Africa and Asia
• People Reached: Over 3.5 million people housed or supported since inception
• Target by 2030: Improve life chances of 100 million people

Contact Details

Main Office

• Website: www.reall.net
• Email: info@reall.net
• Phone: +44 (0)24 7509 3340
• Address: Coventry, UK

Key Contact for Partnership Enquiries

• Patrick Domingos-Tembwa, Director of Commercial Build and Transitions
• Mewahib Mohamed, Director of Programme and Business Development
• Partnership Page: reall.net/become-a-partner/
• Partner Portal: partners.reall.net

Overview

Reall Limited (formerly Homeless International) is a pioneering UK-based charity and social enterprise established in 1989 to address housing poverty in the Global South. With over 35 years of experience, Reall positions itself as an innovator and investor in climate-smart, affordable housing across urban Africa and Asia. The organization operates a unique dual model: rather than building homes directly, Reall provides essential investments, training, and support to a network of 25+ implementing partners who deliver housing solutions at scale. Supported by the UK's Foreign, Commonwealth and Development Office (FCDO) and Sweden's SIDA, Reall has shifted from a purely grant-making charity to a market-based social enterprise that deploys grants, loans, and guarantees to unlock the $17 trillion global affordable housing market. The organization received the UN-Habitat Scroll of Honour in 2013 and has pioneered the $10K house concept - commercially viable, climate-smart homes for families in the bottom 40% of the income pyramid. By 2030, Reall aims to improve the life chances of 100 million people through affordable housing development.

Funding Priorities

Funding Model

Reall operates as both a grant-maker and impact investor, providing three types of support to implementing partners:

1. Start-up Capital (Grants and Early-stage Investment)

• Supports pioneering start-ups developing climate-smart affordable housing
• Tiered approach aligning risk and debt levels with organizational maturity
• Early-stage capacity building grants to help partners develop operational sustainability

2. Growth Investment (Loans and Blended Finance)

• Partners with experienced housing delivery organizations to scale impact
• Mix of grants and loans based on partner maturity
• Reall shoulders foreign exchange losses to reduce financial pressure on partners
• Capital is recycled from successful projects into new initiatives

3. Risk Mitigation (Guarantees)

• De-risks third-party investment from banks and financial institutions
• Guarantee facilities to unlock construction loans and end-user housing finance
• Enables partners to access commercial financing they couldn't secure independently

Example Investment Ranges (based on available data):

• Kenya: Total investments of KES 1.56 billion (~£12 million) across multiple projects
• India: $12.7 million in total investments (mix of $5.5m grants and $7.1m loans)
• Angola: $2.4 million in grants
• Historical CLIFF programme: £7.7 million in capital grants and loans distributed in 2013/14

Priority Themes

Climate-Smart Housing

• EDGE-certified green building standards
• 70% reduction in carbon footprint compared to conventional construction
• Climate-resilient design to withstand long-term climate impacts
• Solar home solutions and energy-efficient technologies
• Compressed earth bricks and low-carbon building materials

Financial Innovation

• Green Affordable Housing Finance (GAHF) platforms
• Mortgage products for low-income earners (20-70% income pyramid)
• Microfinance and community savings schemes
• Unlock end-user finance through data proving bankability of low-income families

Gender-Inclusive Design

• Embedding gender lens across housing value chain
• Gender-focused funding streams (ESRC-funded Kenya study in 2025)
• Women's construction training and economic empowerment

Target Beneficiaries

• “Missing middle” - informal and formal workers earning $2-10 per day
• Bottom 40% of income pyramid
• Urban poor communities requiring land, housing, and basic services
• Families priced out of formal housing markets

What They Fund

Eligible Partner Organizations:

• African and Asian housing developers with proven track records
• Social enterprises committed to commercial and environmental viability
• Community-led organizations with demonstrated delivery capacity
• Technology and FinTech companies innovating in housing finance
• Think tanks and research institutions addressing systemic barriers (“Brokering Partners”)

Eligible Activities:

• Construction of new affordable homes
• Slum upgrading and informal settlement improvement
• Infrastructure development (water, sanitation, basic services)
• Housing finance product development
• Policy advocacy and market systems change
• Technical innovation in construction methods (3D printing, prefabrication, modular housing)

What They Don't Fund

While not explicitly stated, Reall's focus means they likely exclude:

• Housing projects outside Africa and Asia
• High-income or luxury housing developments
• Organizations without demonstrable commitment to affordability and climate impact
• Projects not targeting the bottom 40% income pyramid
• One-off charity housing builds without commercial sustainability
• Organizations unable to demonstrate operational capacity or scale potential

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Governance and Leadership

Interim CEO

Dawn Cole - Chartered Accountant with 30+ years' experience in financial leadership across commercial, public, and charitable sectors. Former Director of Finance & Resources at StreetGames for 10 years. Oversees Reall's financial strategy, treasury, and governance.

Note: Ian Shapiro served as CEO from 2018-2024 and is frequently quoted in Reall materials. He articulated the vision that “rapid urbanisation combined with inequality limits our mutual security and shared prosperity – affordable homes represent an untapped, $17 trillion market.”

Board of Directors (Trustees)

Steven Troop - Chair

• Retired international banking executive with four decades across Asia-Pacific, South America, Europe, Middle East
• Former CEO of Barwa Bank (Islamic financial institution in Qatar)

Diana Mitlin - Board Member

• Professor of Global Urbanism, University of Manchester
• Former CEO, African Cities Research Consortium
• Former Chair of Homeless International
• Editor of Environment and Urbanization journal
• Extensive academic and strategic experience in urban housing in the Global South

Hakeem Ogunniran - Board Member

• Lawyer and Chartered Governance Practitioner
• Founder and CEO of Eximia Realty Co Ltd
• Expert in property development, investment, and housing finance in Africa
• Named among Top 20 CEOs on Nigerian Stock Exchange (2013)

Victoria Jardine - Board Member

• 20-year Partner at Anthony Collins Solicitors LLP
• Specializes in social housing and charity governance
• Recognized as Leading Individual in social housing law (Legal 500, Chambers & Partners)

Ranil De Silva - Board Member and Audit Committee Member

• Senior Finance Executive with 23+ years across commercial, professional services, and NGO sectors
• Chief Financial & Operating Officer at CARE USA (managing $900m portfolio across 45+ countries)

Sarah Smith - Board Member and Audit Committee Chair

• Former external auditor with BDO Stoy Hayward
• Vice Chair of National Housing Federation's SORP Working Party
• Former Board member of Lewisham Homes (10 years)
• Currently serves on Dolphin Square Foundation Board

Dhaval Monani - Board Member

• Founder of Ashray Impact
• Director of Affordable Housing at Anant National University
• Established India's Department of Affordable Housing
• Co-founder of First Home Realty Solutions and We-Build platform

Friedemann Roy - Board Member

• 15+ years in banking and finance investment across Asia, Sub-Saharan Africa, emerging markets
• Specializes in strategy design, project management, and fundraising

Additional Board Members: Vivienne Yeda, Kathy Guis

Independent Directors: Amita Poole, E. Shepard Farrar (40+ years institutional investment experience; former Head of Retirement Plans at Inter-American Development Bank)

Senior Leadership Team

Patrick Domingos Tembwa - Director of Commercial Build and Transitions

• CIMA-qualified accountant
• Expertise in financial management and impact investing in emerging markets
• Multilingual professional with background at British Telecom, JPMorgan, RBS, and microfinance banking

Mewahib Mohamed - Director of Programme and Business Development

• Key contact for partnership and investment opportunities

How to Apply to Reall Limited

How to Apply

Reall does not operate an open, competitive grant application process with published deadlines. Instead, the organization builds strategic partnerships through direct engagement. Prospective partners should:

Step 1: Initial Contact

• Email: info@reall.net
• Phone: +44 (0)24 7509 3340
• Partnership enquiries via website form: reall.net/become-a-partner/
• Message clearly articulating your organization's work, track record, and alignment with Reall's priorities

Step 2: Due Diligence

• Reall evaluates partners based on:
• Proven track record of affordable housing delivery
• Organizational maturity and operational sustainability
• Commitment to commercial and environmental viability
• Potential for scale and catalytic market impact
• Alignment with climate-smart and gender-inclusive approaches
• Geographic focus in Reall's priority markets (Kenya, Nigeria, Uganda, India, Pakistan)

Step 3: Partnership Structure

• Reall tailors support based on partner maturity:
• Early-stage organizations: Higher grant component with capacity building support
• Established partners: Blended finance (grants + loans) for growth
• Mature partners: Guarantees and risk mitigation to unlock commercial finance

Step 4: Ongoing Support

• Access to Reall's Partner Portal (partners.reall.net)
• Technical assistance and training
• Connection to global partner network
• Knowledge sharing and cross-learning opportunities
• Protection from foreign exchange losses

Getting on Their Radar

Reall actively identifies and courts potential partners rather than waiting for applications. Organizations can increase visibility by:

Demonstrating Track Record

• Showcase completed affordable housing projects with clear impact metrics
• Publish data on homes delivered, families served, and community outcomes
• Obtain EDGE certification or other recognized green building standards

Attending Sector Events

• Reall is active in the Global Alliance for Buildings and Construction
• UK Green Building Council membership
• Cities Climate Finance Leadership Alliance
• Cities Alliance network
• Affordable Housing conferences in Africa and Asia

Thought Leadership

• Publishing case studies and research on affordable housing innovation
• Contributing to sector knowledge on housing finance, construction technology, or policy reform
• Engaging with academic institutions researching housing poverty

Existing Partner Referrals

• Reall's current 25+ partner network can provide introductions
• Partner profiles available at reall.net/partnership/partner-profiles/

Building Relationships with Funders

• Organizations already funded by FCDO, SIDA, or similar institutional donors may be natural fits
• Alignment with UN-Habitat or SDG housing initiatives increases credibility

Decision Timeline

Specific timelines are not published, but partnership development appears to follow this general pattern:

• Initial Contact to First Meeting: Variable, likely 2-4 weeks for response to serious enquiries
• Due Diligence Period: Several months for Reall to assess organizational capacity, review financials, and conduct site visits
• Partnership Agreement Negotiation: 3-6 months depending on complexity
• First Disbursement: Following signed agreement and fulfillment of any conditions precedent

Note: Reall operates on a relationship-building model rather than rapid grant turnaround. Organizations should expect an extended engagement period before funding is finalized.

Success Rates

Reall does not publish success rates for partnership applications. The organization maintains a selective portfolio of 25+ partners, suggesting they prioritize depth over breadth and work with a curated network rather than processing high volumes of applications.

Reapplication Policy

Not applicable - Reall operates through ongoing partnerships rather than one-off grants. Successful partners receive continued support and reinvestment as projects deliver results. The organization recycles capital from successful projects into new initiatives within the portfolio.

Application Success Factors

Based on Reall's stated priorities, partner profiles, and leadership quotes, organizations can strengthen their cases by demonstrating:

1. Commercial Viability and Scale Potential

Former CEO Ian Shapiro emphasized: “Reall could not deliver even a tiny percentage of the homes that are so desperately needed, so [we] created a culture of evidence-based innovation fixated on crowding in others to take the mission of affordable housing to scale.”

What This Means for Applicants:

• Show how your model can scale beyond initial grant funding
• Demonstrate path to financial sustainability and eventual commercial operation
• Articulate how your work will influence the broader market, not just deliver individual projects
• Provide evidence of demand and market opportunity for your solutions

2. Proven Track Record with Target Population

Reall partners have delivered significant results before joining the network. Examples include:

• NACHU (Kenya): Reall's longest partner, delivered over 1,500 homes across 16 projects before featured partnership
• Lumanti (Nepal): Partnership since 2011 with strong loan repayment rates and earthquake-resilient home delivery

What This Means for Applicants:

• Don't apply as an entirely new organization - demonstrate 3-5 years of housing delivery
• Provide concrete data: number of homes built, families served, repayment rates, impact metrics
• Show community acceptance and demand for your solutions
• Document challenges overcome and lessons learned

3. Climate-Smart and Innovative Approaches

All featured Reall partners demonstrate environmental innovation:

• 14Trees (Kenya): 3D printing with 70% carbon reduction
• Smart Havens (Uganda): Compressed earth bricks reducing CO2 emissions
• ModulusTech (Pakistan): Flat-packed prefabricated housing for rapid deployment
• BuildX Studio (Kenya): Africa's first B Corp-certified design-build company emphasizing circular economy

What This Means for Applicants:

• Pursue EDGE certification or equivalent green building standards
• Articulate specific environmental benefits (carbon reduction, energy efficiency, water conservation)
• Demonstrate innovation in materials, construction methods, or design
• Show how climate resilience protects families' long-term housing security

4. Gender-Inclusive Design

Reall is investing heavily in gender lens approaches, including ESRC funding for gender-focused research in Kenya (2025).

What This Means for Applicants:

• Integrate gender considerations throughout project design, not as an afterthought
• Provide sex-disaggregated data on beneficiaries and outcomes
• Address women's economic empowerment through construction training or entrepreneurship
• Consider female-headed households and safety/security needs in design
• Partner with women's organizations or community groups

5. Financial Systems and End-User Finance

Reall emphasizes “using open source data to prove the bankability of low-income families” and unlocking end-user finance as core strategies.

What This Means for Applicants:

• Demonstrate housing finance mechanisms beyond subsidy (mortgages, microfinance, savings schemes)
• Show strong repayment rates if you already operate housing finance products
• Partner with banks, financial institutions, or FinTech companies
• Collect and share data on customer affordability, willingness to pay, and loan performance
• Articulate how your model reduces reliance on continuous grant funding

6. Bottom 40% Income Focus

Reall CEO Ian Shapiro stated the organization targets "the 'missing middle'—informal and formal workers in the 20% to 70% of the income pyramid" and committed in 2024 to ICAI's recommendation to develop “a credible model for supporting affordable housing for people in bottom 40% income category.”

What This Means for Applicants:

• Provide clear income profiling of your target beneficiaries
• Show how your pricing model reaches families earning $2-10 per day
• Demonstrate affordability analysis - what percentage of income goes to housing costs?
• Avoid “affordable” housing that only serves middle-income families
• Consider hybrid models with some market-rate units cross-subsidizing ultra-affordable units

7. Local Embeddedness and Cultural Appropriateness

All Reall partners are based in-country, not international NGOs parachuting in.

What This Means for Applicants:

• Be a locally-registered organization with local leadership
• Demonstrate deep understanding of local context, regulations, and cultural preferences
• Show community participation in design and planning processes
• Have staff and leadership from the communities you serve
• Understand local land tenure systems and navigate regulatory environments

8. Alignment with FCDO and SIDA Priorities

As Reall's primary funders, UK and Swedish government priorities influence partnership decisions.

What This Means for Applicants:

• Focus on countries where FCDO/SIDA are active (particularly Reall's five priority markets)
• Emphasize poverty reduction and SDG alignment (SDG 11 - Sustainable Cities and Communities)
• Demonstrate value for money and results measurement
• Consider co-funding or alignment with other UK/Swedish development programs

Key Takeaways for Grant Writers

1. This is not a traditional grant application process: Reall builds strategic partnerships through relationship development. Start engagement 12-18 months before you need funding, not when you need immediate cash flow.

1. Demonstrate, don't just describe: Reall partners with organizations that have already proven their models work. Have 3-5 years of delivery under your belt, with hard data on homes built, families served, and loan repayment rates before approaching them.

1. Think “market disruption,” not charity: Ian Shapiro's philosophy emphasizes that Reall showcases “pioneering, climate smart, commercially viable $10K homes to disrupt the housing market rather than attempt to dominate it.” Show how your work will change the market, influence policy, or crowd in private capital - not just deliver individual projects.

1. Climate credentials are non-negotiable: Every featured Reall partner demonstrates environmental innovation. Pursue EDGE certification or equivalent green building standards before approaching Reall, and quantify your carbon reduction or climate resilience benefits.

1. Geographic focus matters: Reall prioritizes Kenya, Nigeria, Uganda, India, and Pakistan. Organizations in these five countries will find more receptive audiences than those in Reall's secondary markets.

1. Be prepared for blended finance: Reall operates as investor, not just donor. Expect loans with favorable terms rather than pure grants, especially if you're an established organization. Show you can manage repayment obligations and have financial controls in place.

1. Gender lens is increasingly important: With recent ESRC funding for gender work and organizational commitment to gender-focused policy thought leadership, integrate gender analysis throughout your proposal and operations, not as a token section.

Similar Funders

These funders have a similar focus and geographic reach:

• The Genesis Charitable Trust (genem Foundation)
• The Stone Family Foundation
• Amref Health Africa Uk
• H C D Memorial Fund
• Global Innovation Fund
• Halcrow Foundation
• Shell Foundation
• The Kitchen Table Charities Trust
• The Randal Charitable Foundation
• Vodafone Foundation

References

1. Reall Official Website - About Us and History. Reall. Available at: https://reall.net/about-reall/ (Accessed: November 2025)

1. Reall Partnership Information. Reall. Available at: https://reall.net/become-a-partner/ and https://reall.net/partnership/ (Accessed: November 2025)

1. Reall Leadership Team and Board of Directors. Reall. Available at: https://reall.net/about-reall/our-people/ (Accessed: November 2025)

1. Reall Partner Profiles. Reall. Available at: https://reall.net/partnership/partner-profiles/ (Accessed: November 2025)

1. UK Charity Commission Register - REALL LIMITED (Charity Number 1017255). Charity Commission. Available at: https://register-of-charities.charitycommission.gov.uk/charity-details/?regid=1017255 (Accessed: November 2025)

1. Community-Led Infrastructure Finance Facility (CLIFF). World Habitat. Available at: https://world-habitat.org/world-habitat-awards/winners-and-finalists/community-led-infrastructure-finance-facility-cliff/ (Accessed: November 2025)

1. “Homeless International rebrands as social enterprise reall” (2014). Third Sector. Available at: https://www.thirdsector.co.uk/homeless-international-rebrands-social-enterprise-reall/communications/article/1312582 (Accessed: November 2025)

1. Shapiro, Ian. “Reall: Building the World One Home at a Time” (2020). The CEO Publication. Available at: https://theceopublication.com/reall-building-the-world-one-home-at-a-time-ian-shapiro/ (Accessed: November 2025)

1. Shapiro, Ian. “One Home at a Time” (2020). The CEO Magazine. Available at: https://www.theceomag.com/one-home-at-a-time-ian-shapiro/ (Accessed: November 2025)

1. “Reall CEO Named a Top 20 Dynamic CEO of 2020” (2020). Reall. Available at: https://reall.net/blog/reall-ceo-ian-shapiro-named-a-top-20-dynamic-ceo-of-2020/ (Accessed: November 2025)

1. Reall Capital and Finance Solutions. Reall. Available at: https://reall.net/solutions/capital-and-finance/ (Accessed: November 2025)

1. Reall Investment Opportunities. Reall. Available at: https://reall.net/invest/ (Accessed: November 2025)

1. Reall Global Data Dashboard. Reall. Available at: https://reall.net/data-dashboard/global/ (Accessed: November 2025)

1. "Reall's Commitment and Alignment to the ICAI 2024 Report" (2024). Reall. Available at: https://reall.net/blog/realls-commitment-and-alignment-to-the-icai-2024-report/ (Accessed: November 2025)

1. “Affordable Housing: A Solution to mitigating Global Risks” (2025). Reall. Available at: https://reall.net/blog/affordable-housing-a-solution-to-mitigating-global-risks/ (Accessed: November 2025)