Firms partner on housing project

To bridge housing deficit in the country and make it easier for middle class to purchase landed property, LandWey, a real estate firm, has partnered an online savings and investment platform, PiggyVest.

Unveiling the partnership in Lagos, the companies said their coming together was borne out of the need to reduce the financial burdens on Nigerians willing to buy landed property, as it would create entry paths for virtually any Nigerian within low and medium-income brackets to actualise their dream of premium land ownership.

Speaking on the partnership, CEO/Founder, LandWey Investment Limited, Olawale Ayilara said “Land and home ownership is a dream most Nigerians share, but the low ownership rate in Nigeria is a major housing deficit to be bridged. The major issues that bring about this low rate include, the high cost of securing and registering land title, inadequate access to finance, slow administrative procedures and the fledgling state of the mortgage finance industry in Nigeria, with loan repayment costs remaining prohibitively high.”

The CEO, PiggyVest, Somtochukwu Ifezue said the collaboration was to ensure everyone, especially young people, could own a piece of land.