2025 will show Habiko’s ambition and ability to deliver

In November 2024, we launched Habiko alongside our partners Pension Insurance Corporation (PIC) and Homes England. Our objective is simple, to deliver 3,000 low-carbon, low-energy affordable homes for rent. The joint venture will see the partners come together to develop over £1bn of affordable housing over the next decade.

Habiko builds on our respective histories of collaboration and the resulting success of other public private partnerships, including ECF (a partnership between Muse, Homes England, and Legal & General). Since ECF was established in 2001 as a bold public-private partnership, it’s delivered new places across the country and in the process built over 2,150 homes in new neighbourhoods, created spaces for over 8,000 jobs, and generated over £1.2 billion in economic value.

The unique skills and experience of the partners within Habiko, with Muse acting as development manager, will create a best-in-class delivery platform which will enable us to work closely with local, and increasingly combined, authorities to deliver positive outcomes and social value for our communities.

We are now focussed on identifying and selecting the first opportunities for Habiko. These will be focussed on areas of high demand, and where the local market is not meeting the needs of the community.

Across the life of the partnership, Habiko will deliver largely affordable homes and given the current national demand for these homes, we expect our ambition to align closely with both central and local government.

Each new opportunity will be developed to the Habiko specification which includes high levels of sustainability and a focus on social value creation.

With PIC’s appetite to forward fund development and its aspiration to operate the new homes through its soon to be established For-Profit Registered Provider (FPRP), the JV is also delivering tangible social impact through long-term placemaking and stewardship.

Importantly, our approach will diversify the UK’s housing supply chain – particularly for energy efficient and sustainable homes – as well as creating new jobs and investment in skills. Habiko has a very clear mandate from its partners, which is to lead the market in affordable and sustainable housing delivery by supporting green innovation with innovative approaches.

As a result, Habiko is closely aligned with the Government’s stated objectives around affordable housing delivery, sustainability, and economic growth. Not only will we deliver high quality, best in class affordable homes, precisely where they are needed – we will also be supporting communities in the broadest sense.