Cofundie, the real estate crowdfunding platform, has announced a collaboration with Tempohousing Nigeria Limited for the development of 2 properties comprising of 10-apartment buildings (6 studios, 4 mini-flats), and a 32-bed co-living space all en-suite called Cliffs Haven.
As part of this collaboration, Cofundie will finance the development which is located in the Lekki Phase 1 area of Lagos Nigeria while Tempohousing Nigeria Limited will be responsible for the construction and management of the project. This is part of Cofundie’s stated mission to democratize housing finance in Africa and provide Africans with affordable investment opportunities.
Cliffs Haven will also help advance the mainstreaming of alternative materials and techniques in housing development in Africa. This is key to arresting the housing crisis and deficit of 20 million units that currently exists.
Investors will receive returns from rent quarterly after a 12 month construction period.
“We are excited about our debut Nigerian project”, said Chukwuemeka, Cofundie’s CEO. “We believe this will mark a turning point in the housing sector in Nigeria by demonstrating the suitability and profitability of homes built using used shipping containers which are an abundant resource in Nigeria due to our status as a net importer. At the same time, middle-income earners can now benefit from the booming shortlet market in Nigeria without directly owning or managing any properties”.
Dele Ijaiya-Oladipo, the Managing Director of Tempohousing Nigeria Limited said “The project is a first of its kind residential modular development in Nigeria, targeted at upwardly mobile young professionals in touch with the trend of a sharing economy. This signifies THN’s long-standing strategy to tackle the housing shortage in Nigeria by building affordable, purpose-built, high-quality housing in highbrow areas for the grossly underserved young professionals’ class. The project will be a mix of long and short let apartments”.
Visit Cofundie.com to learn more about the Cliff Havens Project.
Cofundie is a proptech company building technology that aims to democratize housing finance in Africa.
Their mission is to create an alternative source of financing for the development of affordable housing in Africa as a way to solve the housing crisis.
They have built a platform for crowdsourcing funds for the development of buildings using alternative materials & techniques. and are currently working on other housing solutions.
Cofundie is active in Nigeria and Ghana. And is looking to expand into other African markets.
About Tempohousing Nigeria
Tempohousing Nigeria Limited is a pioneer modular design and development company in Nigeria, which specialises in providing flexible and affordable residential and commercial urban spaces using standard ISO shipping containers (“Cargotecture”). THN has three core divisions:
– THN Commercial: which provides rapidly deployable solutions to the healthcare, workspace, and retail sectors.
THN Services delivers quick and safe aesthetic structures for various sectors, including ATM housing, portable offices, mini bank branches, etc.
– THN Properties: delivers affordable residential and student housing solutions in the Nigerian market.
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