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Rali Mampeule, a South African Real Estate Entrepreneur who became a billionaire in South African terms before turning 40 is Launching a $1 billion Housing and infrastructure Impact fund called South African Housing and Infrastructure Fund (SAHIF) to speed up the delivery of housing to the poor.
With a current net worth of over R1,7 Billion in assets. Rali has become one of the youngest South African billionaires before the age of 40.
What sets Mampeule apart from most entrepreneurs operating at this scale is that he has never raised external funding. His tag line is that “You do not need money to make money in Real Estate.”
Rali is a massive advocate of bootstrapping – He says, « When you truly believe in the value of what you are creating, diluting the equity is the most expensive way to grow. »
However, his success did not come overnight. His story is a rags-to-riches success story of all time-but mainly he has built his wealth by acquiring land and rezoning agricultural land into township establishment and off loading it to public institutions, listed and unlisted companies.
Rali Properties, which is a South African privately-held property investment, development and equity fund company, has completed the acquisition of Waterfall Point Office Park in Waterfall.
The acquisition provided Rali with an early entry into the 323ha Waterfall City development project by Attacq that has a completion price tag of R71 billion with 11 years of development still remaining. “We are the first black owned company to acquire a major office block in the Waterfall City and we have aspirations of growing our property portfolio in the city.” said Mampeule.
In year 2000, he started as a self-employed street roadside hawker, selling boerewors rolls on the streets of Midrand, while studying for his Bachelor of Commerce (Bcom) with University of South Africa (Unisa).
The turning point in his life came when he met Paul Everitt, a real estate agent who was selling his brother’s house. Paul is the son of Charles Everitt, founder of Chas Everitt International property group.