Grand Luvu 3b

  • Status: Construction
  • Country: Nigeria
  • City: Masaka
  • Partner: MFF
  • Year Approved: 2020
Total Invested
NGN 1,074,369,091
Average Sales Price
NGN 5,024,194
Total Invested
$2,620,419
Average Sales Price
$13,743
Delivery of Homes
Total Financed
Completed
Basic
248
180
Project Overview

The Grand Luvu 3 project is a 240 unit housing development on 13 hectares of land based in the fast-growing neighbourhood of Masaka, on the outskirts of Abuja. Situated adjacent to the Grand Luvu 1 and Camp Luvu 2 housing developments, it is the third stage of MFF’s Grand Luvu estate, and will provide affordable housing to a large number of people who commute to central Abuja on a daily basis.

Targeting the bottom 40% of earners, 240 houses will be constructed, equipped with water, sanitation and energy. The development will provide 3 house types consisting of standard 2-bedroom units and expandable 1- and 2-bedroom units that allow for incremental construction by the homeowner. Each unit will also receive their own plot of land.

The units will be sold to a mixture of MFF customers including individuals and cooperative members working in the informal sector, and Nasarawa State Government employees who will receive their housing through employment payment plans.

180
Homes Completed
7 Sales
180
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
Housing Information
Description Type Number Expected Number Completed Unit Size (m2) Sales Price
(Local Currency)
1 bed expandable unit Basic 90 85 42 3900000
2 bed standard unit Basic 100 65 58 5500000
2 bed expandable unit Basic 50 30 64 6500000
2.5m Naira house Basic 8 - - 2500000

Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
NGN 1,074,369,091
$ 2,620,419
Loans
NGN 1,040,943,905
$ 2,538,894
Grants
NGN 33,425,186
$ 81,525

Based on exchange rate on 31/10/2021

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Data last updated on 01/04/2022