The financing Scheme, called RealtyPin, is set to finance the development of over 200 housing units within the next 24 months, providing homeownership opportunities to families and reducing the housing demand challenges nationwide.
The real estate development company with key projects in various parts of the country including Lagos, Delta, Imo, Enugu, Port Harcourt, and Anambra shared plans to partner with property developers and construction companies and through RealtyPin, provide the much-needed funds to construct affordable residential houses, thus helping mop up the massive housing deficit in Nigeria.
Speaking at the product launch, the CEO of RealtyPros IGL, Engineer ObinnaAzonobi, explained that the initiative seeks to bring a more sustainable solution to risky and unproductive real estate investment and create potential opportunities for prepared investors.
“The real estate industry has continued to experience unparalleled growth over the decades, but with a population of over 200 million Nigerians, over 17 million people are still without a home, and considering the current trend in construction, developers aren’t building enough homes to meet this demand.
“This may be partly due to challenges such as lack of funds to build, inflation and constant hike in the price of building materials and skilled labor among other issues, RealtyPin wholly addresses all these challenges. Through RealtyPin, investors can invest in real estate constructions to earn annual returns, the funds invested are then used to construct affordable homes and acquire landed properties for construction in multiple states across the country.
“The launch of RealtyPin will facilitate inclusion in the real estate industry by fostering collaborations in the real estate value chain. From the diverse network and groups of realtors selling the constructed homes to construction material suppliers, insurance companies, investment bankers, and Nigerians seeking better ways to put their idle funds to use, all parties jointly work towards the single purpose of building and delivering the next affordable home,” Azonobi said.
Explaining more on the initiative, the company’s Sales Director, OkechukwuOkagbue explained; “This initiative is an offshoot of the company’s commitment to making real estate investment readily accessible and affordable to all. The initiative has investment options for both land and residential properties for individuals and groups.
He also stated that Investment options start at an entry point of N500, 000 for the Land buy-back scheme which channels investments to the acquisition and sales of Landed properties, and N10, 000,000 for the Project Buy-in which channels the investments to construction projects. Both investment classes span cycles of 12 to 24 months with returns ranging from 20 to 65%.
This Day: https://www.thisdaylive.com/index.php/2021/06/23/realtypros-igl-launches-investment-platform-to-finance-construction-of-affordable-homes-nationwide/
The Nation: https://thenationonlineng.net/realtypros-igl-launches-platform-for-affordable-homes/