Real Estate company asking for support to deliver quality houses through their market expertise. Aim is to fill the gap by making affordable houses available.
The proposed affordable housing project will involve the development of initial 5,000 units and further 500,000 units on a larger scale over a ten years period after the installation of our Pre-Cast Factory building system.
The target population mainly comprises of middle, and high income educated individuals and groups who are engaged in the civil service, government administration and private business activities.
Sale Values of the house types are projected to be:
House type A (2 Bedroom Flats 1,200 units) - $46,875 per unit
House type B (2 Bedroom Bungalows 800 units) - $62,500 per unit
House type C (3 Bedroom Flats 1,200 units) - $75,000 per unit
House type D (3 Bedroom Bungalows 800 units) - $93,750 per unit
House Type E (4 Bedroom Terrace Houses 1,000 units) - $112,500 per unit
This project will be phased and shall be completed within 60 months taken in phases with its attendant infrastructural facilities at a time. The 2nd phase will have its infrastructure in place while handling processes go on simultaneously. Within the 60 months period it is also envisaged that the entire estate would have been disposed.
The projected total present value of the incomes that would be earned from the scheme is $383,750,000. Viability indexes namely Profitability Index (PI), Net Present Value (NPV), Expected Rate of Return on Investment (ROI) all show that the proposed investment is both viable and attractive.
Developers are cooperating with our proposed pre-cast production factory, which will also provide services to other developers as contractors.
Our proposed building system is faster than the conventional construction system which other developers are using. The expertise of our proposed foreign partners and experience in other countries has added an advantage to us over our competitors.
The demand for affordable housing in Nigeria is far above the supply. Lagos state alone has a shortfall of 8,000,000 housing units and is currently calling on private sector investors to partner with the State on PPP. Investors also have opportunity of providing housing for the masses privately and sell to the public without the involvement of the state government.
The basic philosophy of the proposed scheme is to provide affordable and quality housing accommodation for those who can afford it. The target groups have been clearly identified to be Low and Medium Income Class . The proposed developments will be sited at chosen sites located at, Ikorodu, Ibeju Lekki, and Iba/Badagry Express Way Areas of Lagos State, The locations have good access Roads linking to the major Express Road.
A total of 5,000 housing units are expected to be constructed, with different housing types for effective choice.
Initially, a fund of €250,000 is needed for a feasibility study to be carried by our German-Austria Technical Partners for the establishment of a pre-cast affordable housing Factory on Large scale in Nigeria.
The rest of the funding is needed for other pre-development expenses and balance to serve as company's initial equity contribution to raise additional funding for the initial 5,000 housing units:
• 2 Bedroom Flats (1,200 units)
• 2 Bedroom Bungalows (800 units)
• 3 Bedroom Flats (1,200 units)
• 3 Bedroom Bungalows (800 units)
• 4 Bedroom Terrace Houses (1,000 units)
The funding of the project is to be done through debt and equity financing. This will be achieved by sourcing for foreign funding and local Primary mortgage institutions.
The investor is accessing one the largest and fast growing economies in Africa, West African in particular.
The investor is also offered the opportunity of obtaining a controlling stake in the project company.