The Federal Government has announced a N1 trillion real estate funds aimed at facilitating home ownership through the provision of low-interest loans at a 12per cent interest rate.
This initiative is designed to make housing more affordable by offering financing options below the prevailing market rates.
The fund is expected to stimulate the housing market by enabling more individuals to purchase homes, thereby increasing demand in the real estate sector.
This move aligns with broader economic strategies to boost home ownership and address housing deficits in the country.
The Head of Investment, ARM, an asset management firm, Biyi Adekunbi said though the program had been registered, however the fund would be launched in series.
According to him, N150 billion has been registered and fully subscribed to by the Ministry of Finance and the coordinating minister adding that the subscription is a concessionary tranche, which is aimed at bringing down the interest rates that would be the mortgages.
