The Project’s sponsor is Aanandi Group Pte. Ltd, a newly established property development company formed by bringing together the skills of the lead sponsor Sue Ma (12% shareholder), Leslie Glosby (18% shareholder), Thuan Teh (20% shareholder) and Andrew Su (5% shareholder). Sue Ma’s mother, Chou Ma (45% shareholder) is a financial investor into the group. The group’s operating shareholders have construction management, architectural, project management and hospitality expertise over a period of more than 20 years each.

The total project cost is expected to be US$6.6 million. The proposed IFC investment is a US$2.0 million A loan for IFC's own account.

2.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	2.0
Equity

* These investment figures are indicative

The greenfield project will be located approximately six kilometers south of the town center of Vientiane, on a vacant 2,600 square meter plot of land. The site is an urban area, with many suburban houses surrounding.

(i) Increased quality housing supply to accommodate the business community: this will also counter the impact of rapid urbanization. The project will directly address the need for residential and business infrastructure given the increasing urbanization in the Vientiane area. (ii) Promotion of gender equality: Through the support of a female, ethnic-Lao, lead sponsor returning to her country of birth. (iii) Job creation and upskilling: The project is expected to create jobs both during the construction of the development sites and also post-completion, for the operation of rental management and building maintenance. With a nascent construction development skill set among local developers, this project has capacity to impart significant international standard construction expertise to local construction contractors. (iv) Local linkages: During construction, the project will increase demand for locally sourced labor and building materials in the country and promote inclusive growth through increased SME linkages. (v) Community development: The apartment block built by the project will contribute to urban infrastructure development and surrounding community development. (vi) Demonstration effect: signaling to foreign investors IFC's conviction for investment prospects in Laos, facilitating business accommodation, and encouraging participation in similar projects by local entrepreneurs. (vii) Knowledge transfer: upskilling the local construction workforce through knowledge transfer from an internationally experienced construction and development team.

(i) Provision of long-term financing: Long-term financing is not available for developers in Laos. IFC will provide a long term debt facility with repayment structure to match the cash flow profile of the project. It is noted that the company has ambitions for larger projects down the line in other regions of Laos, for which they will require further IFC expertise. (ii) Sector expertise: IFC will bring sector knowledge to improve construction and operational standards, provide market strategy and project management expertise. (iii) Environmental & Social and Insurance: IFC will provide guidance to improve and ensure insurance and environmental and social standards are in line with international best practices, including potentially attaining IFC EDGE Green Building certification. This may also extend to the remainder of the pipeline projects.

The Project has limited potential adverse E&S impacts (related to: construction contractor E&S management including labor and working conditions and conditions of worker camps; waste water treatment and discharge during operation; and noise/vibration during construction), which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. This project is therefore classified as a Category B project according to IFC’s Policy on Environmental and Social Sustainability.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.