Firm Offers Real Estate Investment with 9% Financing
-
Loading... - Samuel Fegor
- 09 Jan 2025
- 41 Views
- 0 Like
- 0 Comment
The real estate sector in Nigeria is set to experience a transformative initiative with the launch of Madiba Countryside City, a sprawling 5,000-acre development aimed at providing affordable land and housing options. This groundbreaking project is located in Obafemi-Owode, a rapidly developing town in Ogun State, and features a unique financing plan with an interest rate of just nine percent per annum, which is being hailed as a game-changer in the Nigerian real estate market.
Dr. Olumide Emmanuel, CEO of CommonSense Group, emphasized that affordability and authenticity are at the heart of this initiative. “Many people dream of owning land or homes but struggle to find genuine and affordable opportunities. That’s why we acquired 5,000 acres to build a city where everyone can own a plot, an acre, or even more. It’s about giving people an investment that can bless them during their lifetime,” he stated.
The development will include a variety of features such as residences, a retreat center, and a resort, along with amenities like wellness centers, theme parks, film villages, and farm estates. Dr. Emmanuel envisions the project as a place where families can enjoy a “reside, retreat, and resort” lifestyle, akin to visiting a destination like Disney World during holidays.
Dr. Emmanuel acknowledged the significant challenges facing the real estate industry in Nigeria, particularly the lack of government support. He urged the government to create an enabling environment for private-public partnerships to flourish. Collaboration with local government officials and community leaders is also a priority to ensure the project benefits the community. “The local government chairman, councillor, and even the king are part of this project to ensure it benefits the community. However, a stable policy framework is crucial,” he added.
Despite the risks associated with potential policy changes, Dr. Emmanuel remains optimistic about the project’s potential to serve as a model for sustainable development.
The development will also incorporate innovative energy solutions. Denedo Emmanuel, CEO of Prenedos Power Ltd., highlighted the project’s transformative potential, stating, “This initiative is inspiring and life-changing. We are handling the electricity component, ensuring reliable power supply, just as we’ve done in previous projects with Dr. Emmanuel. This is an opportunity the public shouldn’t miss.”
What sets Madiba Countryside City apart is its financing model. Osho Abiodun, CEO of AssetPlus, emphasized the significance of the nine percent per annum financing offer, stating, “This is the first of its kind in Nigeria. While other countries offer single-digit mortgages, Nigerians have had to contend with rates as high as 30 percent. We’re changing that narrative by financing property acquisition—land or houses at just nine percent with no hidden charges.”
The financing rate applies on a reducing balance, ensuring affordability for buyers. “Once financed, buyers can start building on their land or move into completed houses immediately after paying a 20 percent equity,” Abiodun explained.
Wisdom Ahamefula Ezekiel, co-founder of Pertinence Group, underscored the importance of this initiative, stating, “Dr. Emmanuel has been a trailblazer in real estate, raising giants in the industry. This project will revolutionize housing in Nigeria.” He encouraged Nigerians to adopt strategic investment approaches, noting that the shrinking middle class makes it essential to position oneself wisely in investments like this.
“Whether you earn N10,000 or N1 million, investment is key. Start small, take consistent steps, and align with trusted leaders like Dr. Emmanuel. Real estate remains the real investment,” he advised.
Madiba Countryside City represents a significant step forward in making real estate investment more accessible to Nigerians. With its innovative financing model and comprehensive development plan, the initiative aims to provide affordable housing solutions while fostering community growth and sustainability. As the project unfolds, it promises to reshape the landscape of real estate in Nigeria, offering opportunities for individuals and families to invest in their futures.
