OUR APPROACH

  • The case for investing in the production of housing and housing development, or mortgage lending is strong, particularly in certain countries of sub-Saharan Africa. Opportunities for strong market share and above average returns from investments in housing-related manufacturing, real estate, home building and in the financial sector abound.
  • Leading countries in Africa are facing major housing deficits. For example: With a population of about 30 million people and 7 million households, Ghana is currently facing a “housing deficit” of about 1.7 million housing units; and this deficit is growing. Under current conditions, however, Ghana’s housing industry and real estate developers are only producing about 4,000 housing units per year. Why the enduring shortfall?
  • The normal economic feedback loop that exists in mature housing markets is not working in many emerging markets, particularly in major countries of sub-Saharan Africa. Neither the suppliers of affordable homes nor the suppliers of mortgage credit (which is needed to purchase affordable homes) are willing to take the risk or make the first step to close the loop and break the logjam.
  • GLOBAL HOUSING STRATEGIES, as advocate and consultant to both sides of the housing supply-demand equation, can design and help implement solutions that will bridge the gap and break the logjam.

Our Vision

SUSTAINBLE NATIONAL HOUSING SUPPLY SYSTEMS TOGETHER WITH AFFORDABLE AND COMPETITIVE HOUSING FINANCE SYSTEMS, resulting in:
  • Significant increases in housing supply, thereby reducing and ultimately erasing housing deficits
  • Affordable housing finance, making safe housing accessible to all
  • Modern, affordable, clean, and safe housing stock instead of fragile and poorly-maintained legacy housing
  • Sustainable and environmentally-friendly communities with high quality urban life
  • New, climate-resilient and fully bankable housing
  • Satisfactory and effective responses to societal pressures for higher quality of life, and
  • Significant new and sustainable job creation stemming from robust economic activity

A World Class Team of Proven Executives

Our team has been curated to give every one of our partners the attention and talent they deserve in order to provide maximum value. We focus on qualifying project requirements and moving swiftly to deliver.

Michael Bookstaber, CFA

Founder and Managing Partner of GHS.

Mr. Bookstaber has a forty+ year long career in housing and housing finance and has worked extensively in the U.S., Israel, and in many emerging market countries. From 1998 through 2008, he worked as an investment officer at the International Finance Corporation (IFC) and rose to become Global Head of the Housing Finance Group. At IFC, he closed 28 transactions with an aggregate portfolio value of about $2.4 billion. Previously, Mr. Bookstaber worked for mortgage banking regulators in the U.S. and Israel, for a specialized thrift consulting firm in the U.S., at Alex. Brown & Sons – an investment banking firm, and at Fannie Mae. As the head of GHS, Mr. Bookstaber has worked on numerous consulting and advisory assignments, most of them based in the sub-Saharan Africa region, and all of them relating to the development and financing of affordable housing estates.

Douglas Grayson

Principal

Doug has over 30 years of experience in housing and real estate finance including senior leadership positions private equity investment funds, mortgage banking companies and investment banking. Prior to GHS, he served as Global Product Head for Housing Finance at IFC, a member of the World Bank Group were he worked on debt and equity transactions and provided technical advice to the private sector financial institutions and governments in 20+ countries. Prior to joining IFC, Doug was a founding member and managing director at Connaught Real Estate Finance, US-based real estate hedge fund where he led business development, financial operations and key member of fund’s capital raising team before serving as the fund’s CFO. He has also worked at CIG International, a private equity fund focused on providing mezzanine debt and gap equity financing to residential developers where he served as CFO leading finance, risk management and was a voting member of the investment committee. Also, he has held senior management positions in companies from multiple points along the housing value chain including Freddie Mac, Fannie Mae and Prudential Home Mortgage Company. Doug specializes in evaluating opportunities for banks and greenfield companies to develop housing finance products, supporting systems and capital market funding. In addition, he has extensive experience in real estate funds, REITs and financial systems development.

Almog Woldenberg

Senior Financial Analyst

Almog Woldenberg is financial analyst and has significant skills in performing market research, data mining and complex financial modeling and analytical assignments. He brings four years of professional experience in these fields and has proven entrepreneurship skills. He is driven to solidify and execute business plans based on thorough understanding of micro and macro environments. He has a strong aptitude for learning new markets, business models, and technologies. Mr. Woldenberg holds an MBA, majoring in Strategy and Data Science from The Hebrew University and a BA in Technology Management and Marketing from Jerusalem College of Technology (JCT).

George Ellman

Senior Construction Manager

George Ellman is a senior construction manager. Bringing 35 years of construction and complex project management expertise to the GHS team. George has been involved in both commercial and residential projects in the U.S. and successfully directs multi-million-dollar projects to maximize profitability for investors through skillful contract negotiation, project estimation, crew leadership and forward thinking. He is reputed as a highly skilled project manager who consistently delivers complex projects on time and within budget. George holds a BA degree in Geological Engineering and a MS in Civil Engineering.

Ephraim Weiss

Senior Construction Manager

Ephraim Weiss is one of GHS's construction managers. Effie offers a long and varied career in the construction of affordable housing projects. He worked in the construction industry in Israel for about ten years, acquiring skills in building materials and project management, before moving to Johannesburg, South Africa. In Johannesburg, Effie has worked for over twenty-five years, primarily for his own account, in building large-scale and small-scale housing project in the affordable and low-cost segments of the market.