INVESTOR BRIEF ICONIC RESIDENTIAL DEVELOPMENT IN NIGERIA’S PREMIERE LOCATION
Sector Real Estate
Geography Lagos (Victoria Island), Nigeria.
Funding The Company is seeking to raise up to US$30 million in debt financing, and US$10 million in equity financing.
Use of Funds Construction of the world’s tallest residential sprayed concrete curved structure comprising of 22 luxury apartments on 18 floors, provision for 50 parking bays, gym, concierge, swimming pool and event room.
IRR 20%+ Equity IRR with full exit within 4 years.
Market Overview Strong macroeconomic fundamentals, i.e. Africa’s largest economy (US$522 billion GDP for 2013, ranking #1 in Africa and #23 World (World Bank)), strong economic growth 6.2% (2014); most populous country and largest consumer base in Africa; Nigeria’s ultra high-end real estate market is fast growing and under-served, with developments such as Tango Tower and Ultimate Apartments selling out at in excess of US$1.3 million per unit starting prices.
Opportunity Overview An opportunity to participate in an ionic real estate development project in the ultra high-end segment of the Nigerian real estate sector which has over the years proven to be a very lucrative means of investment for both long and short term objective of investors. This development will shape Nigeria’s skyline.
Company Background The Company is a real estate developer with a long and successful track record in the real estate sector globally and in Nigeria. Construction will be undertaken by one of Nigeria’s premier proven EPC companies with a fixed and time-certain contract. Experienced consultants on the project include Spark UK as architects, Battle McCarthy UK as integrated engineers, BB7 UK as fire, risk and safety specialists, WT Partnership as cost consultants/Project Managers, Sandy Brown UK as acoustics specialists, Sterling Partnership as legal advisors and Windsor Homes as sales and marketing consultants.
Prospects & Customers Sales and marketing consultants, Windsor Homes, have one of the strongest networks of corporate buyers and high net worth individuals and has formulated a sales strategy that leverages those contacts with a strong possibility of pre-sales and off-plan sales.
Management Team A strong and seasoned management team based in Nigeria comprising of individuals with long and successful track records in this sector.
Work-to-date The Sponsors have invested substantial resources in the project completing all work needed to commence construction, including acquiring all permits, design, surveys, establishing marketing teams, etc.
More Information Business plan & financial projections are available upon request.
Contact For more information, please contact: Mansur Nuruddin at mansur@mncapital-africa.com