What we do
Oak IF Group specialises in the financing and construction of social housing in Natal, north-eastern Brazil, where we supply homes for the government backed programme Minha Casa Minha Vida – meaning My House My Life.
The Minha Casa Minha Vida (My House My Life) programme was launched in 2009 by the government of Brazil under the presidency of Luiz Inácio Lula da Silva. It was briefly renamed as Casa Verde e Amarela by the government of Jair Bolsonaro, but now that Lula de Silva has returned to the presidency, it has reverted to its original name. By providing low cost finance to people earning less than three times the minimum wage, it enables them to purchase these new affordable homes.
Historically the Minha Casa Minha Vida programme has been overseen by the Caixa Economica Federal bank and the Banco de Brasil – the two largest financial institutions in South America. Recently, due to the ever increasing demand for housing within the scheme, the government has expanded the management of the programme by involving the private banking sector, including banks such as ITAU, Bradesco and Banco Santander.
The programme has been hugely successful, by helping to relocate over 7 million of Brazil’s poorest families to date, with the aim of providing 24 million new homes in the coming years.
Although providing finance for homebuyers, the Brazilian government does not directly fund construction, which is entirely in the hands of independent property developers. Oak IF Group raises funds from investors and develops properties to be sold as part of the Minha Casa Minha Vida programme. We manage the entire development process from sourcing suitable projects, through the construction phase, right down to the sales to end user buyers.
The huge demand within this programme outstrips supply with many properties being sold off-plan before construction has even started, thus guaranteeing an exit strategy. With the long-term aim of the Minha Casa Minha Vida programme being to provide adequate accommodation for all and to eradicate favelas throughout the country, demand for such properties is expected to rise even further during the coming years.
Across its various departments and construction sites, Oak IF Group provides employment for more than 100 people. Our young, professional and highly-motivated team on the ground manages all aspects of delivering suitable properties for the programme, through sourcing projects, managing planning, construction, promotion and sales.