By Ruth King
In a bid to give opportunity to low income earners in the country to benefit from real estate, Richfield, a real estate company, has launched an investment platform called PropVest to boost innovative model for real estate financing.
Speaking during the launch of the platform in Lagos, the Founder and Chief Executive Officer, PropVest, Samson Odegbami, said PropVest was an income generating investment platform designed to help individuals make short to medium term cash flow from real estate investment.
He said the company would also help to provide the much-needed funds for real estate developers to help mop up the massive housing deficit in Nigeria.
Odegbami said, “The real estate industry is a renowned sector that has continued to experience unparalleled growth over the decades. Out of over 206 million Nigerians, over 17 million people are still without a home.
The real estate development company with estate projects across Lagos, Abuja and Ogun are planning to expand their investment, also said it plans to reduce housing deficit by 2022.
“This is partly due to challenges that individuals face such as lack of funds to build, inflation resulting in constant hike in price of building materials and skilled labour among other issues, also the Nigeria mortgage system is not functional”.
Odegbami explained that the platform is tech driven, as it is a win – win investment for all stakeholders, bringing sustainable solutions to old enduring challenges.
“PropVest is working alongside construction company, Calabella Constructions, a diverse network and groups of realtors, construction material suppliers, insurance companies, lineups of investment bankers and Nigerians seeking better ways to put its idle funds to use”.
In her words, the business manager Propvest, Ms. Adeola Subair urged women to take time and invest with Propvest which gives them better returns without stress.
“This platform was created to help move Nigeria forward by raising finance to build quality homes for low income earner, and I believe the women can also be a big part of this great investment opportunity from anywhere around the world”.