The project aims at taking advantage of the market opportunities as well as the shortage of quality housing. Houses within the development is planned to be refinanced by the Federal Mortgage Bank of Nigeria upon conclusion. Brickstone was contracted to develop a Business Plan for the Mass Housing Development Project.
The site has a total of 4,430,000 sq meters which is ideal for the first phase of the Lugbe Development.
A clear market/ commercial opportunity currently exists within the Abuja for the project concept as a result of a number of factors:
- The demand for residential accommodation in Abuja has been growing geometrically and significantly outstrips the supply of housing.
- The design of the United Workers Housing Scheme meets the requirements of a defined target market. Comprising civil servants and discerning families looking for quality accommodation as well as real estate investor’s estate acquiring income-generating assets.
Brickstone Took These Actions
Brickstone’s contract was to:
- Recommend appropriate transaction modalities and structuring executing and fundraising for the project.
- Develop a Comprehensive Financial Model to communicate the financial viability of the project to investors.
- Develop an Information Memorandum and Plan that would communicate succinctly the value proposition of the project to bond investors.