Lagos-based real estate firm, Messrs GMH Luxury, has reaffirmed its commitment to bridge existing deficit by constructing 100 units of affordable housing by 2025.
The Chief Executive Officer, GMH Luxury, Ayoolarenwaju Kuyebi, gave the hint at a forum on “Wealth Acceleration for the 21st Century Nigerian,” organised recently in Lagos.
The investment forum was hosted to enlighten experts in the sector about its Real Estate Investment Trusts (REITs) aimed at financing the construction of housing projects across Nigeria and Africa.
The new financing scheme will fund the development and provision of home-ownership opportunities to families, reduce housing deficits across the country and help savvy investors manage wealth.
Speaking at the event, Kuyebi said the real estate industry had continued to experience unprecedented expansion all through the decade, “however with a populace of more than 200 million people, a good percentage are still without a roof over their head and considering the current constraints in construction, the supply still doesn’t meet the demand.”
According to him, the challenges in the sector are largely attributed to lack of funds to build, inflation and steady increase in the cost of building materials as well as lack of skilled labour, among other issues.
GMH Investment was created to address these issues through GMH Investment, where investors can put resources into real estate constructions, which in turn will earn yearly returns, while the funds invested are used to construct affordable homes and acquire landed properties for development in various states.
The Head, Sales and Corporate Marketing, Mr. Okeowo Olasubomi said: “We build to budget, our one-bedroom apartment in Lekki is N35 million, unlike what is currently obtainable in the market.”
A Director of the firm, Mrs, Elizabeth Bamidele, said the company would help investors achieve their financial goals through real estate investment.