The French PERL Group was founded in 2000 by Mr. Alain Laurier and is France’s pioneer and leader in social housing usufruct (SHU) solutions. This means a temporary division in ownership of a social housing property between usufruct (the right to use or derive income from the property) and bare
ownership (title to the property).”.
Since June 2014, PERL is a subsidiary of the quoted French GROUP NEXITY with 7000 employees overall, whereas 85 PERL employees are located in Paris. Since the start, PERL helped finance and built more than 1000 social housing flats every year inside five French areas where real estate is expensive such as Île-de-France, Rhône-Alpes, Paca, Arc Atlantique and Genevois Français.
PERL joined the EFL because of the potential of introducing its innovative way of financing and hence building social housing through private capitals, especially on expensive real estate markets in other European countries. PERL is convinced that the gap between use and housing property will increase and is highly interested in providing sufficient, affordable and quality social housing in which people with a lower incomes can live for 15-20 years at least, before housing becomes private. PERL wants to explore how to best export this effective French business model to other social housing markets in Europe. They will investigate in advance the specific conditions of each national social housing market where this separation between use and property could be developed.
Link to PERL: http://www.perl.fr/