Based in the fast-growing neighbourhood of Masaka, on the outskirts of Abuja, Nigeria, this project is the second stage of MFF’s Camp Luvu estate development. Targeting the bottom 40% of earners, 32 houses will be constructed, to be purchased by cash buyers and purchasers on short term payment plans. Home to a large number of people who commute to the central Abuja on a daily basis, the area sits adjacent to Grand Luvu 1, and will provide high quality housing equipped with water, sanitation and energy.
The new homeowners will be a mixture of cash buyers or purchasers on short term payment plans, who are able to access housing finance through MFF. As a result, this project evidences a commercially viable model for delivering affordable housing in Abuja, which in turn will provide a return on Reall’s investment over the project period.
Clients estimated to sit between 41st and 50th percentiles of incomes in Masaka
|Description||Type||Number Expected||Number Completed||Unit Size (m2)||Sales Price |
|58sqm unit, 2 bedroom||Basic||24||24||58||5000000|
|42sqm unit, 1 bedroom, priced at ||Basic ||6 ||6 ||42 ||3650000 |
|58sqm energy efficient unit, 2 bedroom||Basic||2||2||58||5500000|
|58sqm energy efficient unit, 2 bedroom, with additional roofing insulation and photovoltaic system (4 units to be built only if additional external subsidy can be secured)||Basic||-||-||58||7500000|
Based on exchange rate on 31/10/2021
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Data last updated on 01/04/2022