The MOFI Real Estate Investment Fund (MREIF) has successfully secured N100 billion through its Series 2 issuance, fully subscribed by private investors. This fundraising effort is a significant step in mobilizing private sector capital to address Nigeria’s housing sector needs. The initiative is part of a broader goal to raise N250 billion in a pilot fundraising effort aimed at filling the gap in housing finance within the country.
Alongside this financial milestone, MREIF plans to offer housing loans at a 12% interest rate to Nigerian citizens. This strategy is aimed at making housing more accessible and affordable, in a bid to support the nation’s real estate development and address the ongoing housing shortage.
This development is anticipated to play a crucial role in enhancing the availability of funds for housing projects and in promoting broader economic growth and stability within Nigeria’s property sector.
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