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 (Local Currency) |
---|---|---|---|---|---|
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 30/06/2022