Camp Luvu 2

  • Status: Complete
  • People Housed: 24
  • Country: Nigeria
  • City: Masaka
  • Partner: MFF
  • Year Approved: 2020
Total Invested
NGN 255,779,030
Average Sales Price
NGN 4,778,125
Total Invested
$623,853
Average Sales Price
$13,731
Delivery of Homes
Total Financed
Completed
Basic
32
32
Project Overview

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.

32
Homes Completed
23 Sales
8
Homes Occupied
32
Connected to Water and Sanitation

Client Data

Displayed In
Client Monthly Household Incomes

Clients estimated to sit between 41st and 50th percentiles of incomes in Masaka

Mean
150,000 NGN
366 USD
40th percentile at year of occupancy
40th percentile at year of occupancy
Household Demographic Data
Household Size
3.00
Proportion Female
21.0
Proportion Children
15.0
Proportion Elderly
1.2
Housing Information
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

Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
NGN 255,779,030
$ 623,853
Loans
NGN 255,779,030
$ 623,853

Based on exchange rate on 31/10/2021

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Data last updated on 01/04/2022