A foremost infrastructure, hospitality, commercial and residential real estate company in Nigeria has struck gold, and fast becoming head and shoulders above its peers in the industry.
The company, Brains and Hammers Limited, has pulled through a juicy N8 billion investment from the private capital market.
The N8billion SUKUK funding was made possible by a consortium of lenders in the private sector, and backed by ARM and Fidelity Bank.
Analysts say the huge investment is reflective of the investors’ vote of confidence in Brains and Hammers’ vision of providing affordable houses for Nigerians.
This funding is putting the company on course to deliver on its aggressive growth plan in affordable housing across the country.
Accelerating at full speed with a mega 4,500 units Bungalow City in Abuja, Nigeria’s capital city, the SUKUK investment represents a laudable landmark for Brains and Hammers and serves as a springboard for the delivery of wallet-friendly houses for citizens across Africa’s most populous country.
Chairman of Brains and Hammers, Adebola Sheidu, expressed his delight at the SUKUK investment, noting that it represents a vote of confidence in his company.
According to him, ‘’with Phase 1 of the Bungalow City project nearing completion in less than one year after construction started, the 1, 2, and 3-bedroom housing units are proof that we are not just at the forefront of providing affordable housing development in Nigeria, we are building infrastructures as well. The on-going construction of a 3.8km access road and over 3km internal road network within phase 1 of the project is a pointer to that fact.
‘’This infrastructural development is supported with recreational facilities including schools, Banks, a business hub, and a shopping mall, accentuating Brains & Hammers’ commitment to creating a healthy Live, Work & Play environment around their mega projects across the country.”
Adding, Sheidu said the project is also well-positioned to create over 1000 direct, indirect, and ancillary jobs during construction, and upon its completion, thereby creating a large-scale economic impact beyond the provision of affordable housing and infrastructure.
Brains and Hammers’ bold move in this instance has been enhanced by the confidence reposed in the company by the consortium of investors who are also committed to reducing the housing deficit in Nigeria.
Powered by over 14 years of rich insights and expertise in the sector, the company has become a partner of choice for affordable, premium, and luxury houses for the public and private sectors and Nigerians at home and in the Diaspora.
The company’s hospitality, residential, commercial, and infrastructural portfolio is covering thousands of acres of land in urban, suburban, and satellite communities in Abuja, Kano, and Lagos, the commercial capital of Nigeria.