In case you missed out, here are the top housing news stories for last week.
Abbey Mortgage Bank launched a mobile banking application to simplify the mortgage banking industry. The bank said the app would provide a more seamless and convenient banking experience for both existing and new customers. This includes day-to-day banking services, including opening an account to save towards equity for a mortgage (“Save to Own”), without the need to visit a branch.
FMBN to invest N40 billion in 5,000 housing units in 12 months: In line with the Federal Government’s Economic Sustainability Plan (ESP), the Federal Mortgage Bank of Nigeria (FMBN) plans to invest over N40 billion to deliver the construction of 5, 000 housing units in 12 months.
Nigerian Housing Rental Solution Startup, Spleet, raises $625,000 in A Pre-seed Round: The aim of Spleet is to make it easy for Africans to rent a home. The startup has developed a financial services solution that makes it easier for landlords to verify and vet their tenants and collect rent electronically, while also making it easier for people looking for affordable housing to pay their rent.
The International Finance Corporation (IFC) committed to purchase of $36.97 million worth of bonds issued by Kenya Mortgage Refinance Company, becoming one of the largest debt investors in the firm.
President Muhammadu Buhari commissioned 80 housing units in Kaduna state, part of 2,465 housing units built by his administration in 34 states, noting that his administration is committed to enhancing the living condition of Nigerians.
The Lagos State government completed new survey mappings. This would change the measurement parameters that affected Certificate of Occupancy (C of O) issued as far back as 40 years ago.
The new survey mapping has slightly adjusted the physical location of the property and requires different technological equipment for surveyors to be able to catch up with taking accurate measurements.
UPDC Plc has said it plans to deliver 1,500 housing units in the country in the next five years. The company says it had signed development management mandates in the first quarter of 2022 with various companies to expand its business and serve its clients better
