Dr Da Silva, who serves on several company boards, is a former director of Merril Lynch with deep corporate experience in especially the financial services industry. He is also a founder of Macquarie First South, among other enterprising ventures. His experience includes Investor Relations, Asset Management, Investment Advisory, Mergers and Acquisitions as well as Corporate Governance.

Ivan Pretorius, Chief Operating Officer and founder of Alleyroads commented:

“We are extremely excited to have Dr da Silva join the Board of Directors at Alleyroads. His experience and expertise will further deepen our strategy, governance, and oversight abilities as we continue to grow and corporatise the business.”

The announcement follows Alleyroads' rapid expansion of its portfolio recently, having concluded a R1.2 billion transaction with Stellenbosch-based Trueprop Investment Holdings (Pty) Ltd. In this transaction, the Group acquired a portfolio of 3 305 units across 46 strategically located properties along with the shares in Pulse Property Group.

It provides further momentum to the Alleyroads’ goal of growing to 20 000 residential rental units and 20 000 student beds on its balance sheet in the next seven years.

In August 2023, the Group announced that it had received a second tranche of funding to the amount of R175 million from the International Finance Corporation (“IFC”) to develop sustainable affordable residential apartments.

This funding forms part of a green A-loan investment of up to R325 million by the IFC.

Proceeds from the drawdown will be used for the completion of the development of Inkanyezi Village in Katlehong South, John Dube Village Phase 1 in Springs and Meyerton Ridge in Meyerton.

The total project cost is estimated to be up to R620 million with the balance funded by Alleyroads shareholders in the form of equity.