A priority country, Reall has been operating in Nigeria since 2014.
With an urbanisation rate of over 4%, the demand for affordable housing is huge. The estimated housing deficit in Nigeria stands at 17m homes, and it is estimated that the completion of at least 1m homes per year is required to bridge the housing deficit by 2033.
Reall has partnered with the Millard Fuller Foundation (MFF), where they have delivered a 212 home project on the outskirts of the capital, Abuja. In 2019, the Centre for Affordable Housing Finance found that MFF provided the most affordable house from a private sector developer in the whole of Africa, at $8,040. MFF have also instigated a relationship with Family Homes Fund, a World Bank-backed fund promoted by the government of Nigeria. The Family Homes Fund has purchased almost all constructed homes on MFF’s Grand Luvu site for provision to families on low incomes.
MFF’s relationship with Family Homes Fund has enabled MFF to fully repay all construction loans to Reall.
Based on exchange rate on 31/10/2020
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Data last updated on 10/12/2020