N250bn real estate investment fund fully subscribed – FG

The Ministry of Finance Incorporated (MOFI) has announced they it has successfully closed it N250bn Real Estate Investment Fund (MREIF) pilot fundraising, attracting strong private sector participation under a NGNI00 billion issuance tranche.

In a statement by Sani Yakubu, Executive Director (Coordinator), MRIEF, on Thursday, ot stated that MREIF has established itself as a highly credible, market-driven investment platform to address Nigeria’s housing finance gap.

“The NI00 billion Series 2 issuance was fully subscribed, with strong demand across a broad base of institutional investors, thereby depicting high investor confidence in the Fund’s structure and long-term potential

“MOFl’s sole investment in the NGN150 billion Series 1 offer, private sector participation in Series 2 was resounding, positioning MREIF as a leading platform for mobilising capital into Nigeria’s real estate sector.

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The fund is structured to deliver competitive returns while enabling affordable homeownership through long-term, lowcost mortgage financing at scale. The successful close of this pilot phase marks the beginning of a long-overdue transformation of Nigeria’s housing sector,” the statement said.

Minister of Finance and Coordinating Minister of the Economy while commenting said “The full subscription of Series 2 offer demonstrates the pent-up demand for a structured, long-term housing finance solution, and affirms the private sector’s confidence in MREIF as a sustainable investment vehicle.”

Also speaking, Dr. Armstrong Takang, Managing Director of MOFI noted that
“MREIF is designed to address both housing supply and demand constraints, offering affordable mortgage financing with up to 20-year repayment tenors at interest rates as low as 12%, significantly below commercial rates.