Camp Luvu 2

  • Status: Construction
  • Country: Nigeria
  • City: Masaka
  • Partner: MFF
  • Year Approved: 2020
Total Invested
NGN 255,779,030
Average Sales Price
NGN 4,778,125
Total Invested
$667,877
Average Sales Price
$13,704
Delivery of Homes
Total Expected
Completed
Basic
32
32
Project Overview

Based in the fast-growing neighbourhood of Masaka, on the outskirts of Abuja, Nigeria, this project is the second stage of MFF’s Camp Luvu estate development. Targeting the bottom 40% of earners, 32 houses will be constructed, to be purchased by cash buyers and purchasers on short term payment plans. Home to a large number of people who commute to the central Abuja on a daily basis, the area sits adjacent to Grand Luvu 1, and will provide high quality housing equipped with water, sanitation and energy.

The new homeowners will be a mixture of cash buyers or purchasers on short term payment plans, who are able to access housing finance through MFF. As a result, this project evidences a commercially viable model for delivering affordable housing in Abuja, which in turn will provide a return on Reall’s investment over the project period.

32
Homes Completed
11 Homes Sold
2
Homes Occupied
32
Connected to Water and Sanitation
Housing Information
Description Type Number Expected Number Completed Unit Size (m2) Sales Price
(Local Currency)
58sqm unit, 2 bedroom Basic 24 24 58 5000000
42sqm unit, 1 bedroom, priced at Basic 6 6 42 3650000
58sqm energy efficient unit, 2 bedroom Basic 2 2 58 5500000
58sqm energy efficient unit, 2 bedroom, with additional roofing insulation and photovoltaic system (4 units to be built only if additional external subsidy can be secured) Basic - - 58 7500000

Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
NGN 255,779,030
$ 667,877
Loans
NGN 255,779,030
$ 667,877

Based on exchange rate on 31/12/2020

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Data last updated on 10/03/2021