Rock Realty Breaks Ground on Diaspora Cities – a Mega Project in Nigeria
Abuja, Nigeria–(Newsfile Corp. – March 14, 2023) – Rock Realty, a company developing wellness-centric multifamily housing, is currently working with the Nigerians in Diaspora Commission (NIDCOM) to set up Diaspora Cities in different locations in the country. The first two Diaspora Cities, Abuja, and Lagos are programmed for commencement in the second and third quarters of this year. Nigerians in Diaspora are being guaranteed access to single-digit USD-dominated mortgages from Rock Realty.
Ibukun Adebayo, CEO and Founder of Rock Realty
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One of the biggest challenges in the Nigerian real estate market in the country is the lack of long-term capital both for construction and more importantly, for buyers in terms of mortgages. Rock Realty is navigating the waters and working with partners to still create access to mortgages with terms that are friendlier than they would otherwise be able to access.
Ibukun Adebayo, CEO and Founder of Rock Realty
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“It is the same challenge with Nigerians in Diaspora who want to buy homes back in Nigeria,” said Ibukun Adebayo, CEO and Founder of Rock Reality. “If we can unlock significant financing into the mortgage sector, particularly if we can do foreign financing against USD-denominated diaspora mortgages, we would open up the middle-income market significantly, and that is a massive market in Nigeria.”
The company currently has striking projects in construction, two in Lagos, and one in Ibadan. The current total project pipeline is 300 residential units. The ones in Lagos are called the Bold Living Apartments series. The Concept of the Bold Living Apartment is that middle-income earners need to get bold and get on the homeownership ladder. Bold Living One comprises beautifully designed apartments on four floors located on Alpha Beach road, Lekki.
Rock Realty
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They also come with modern architecture and a serene ambiance. Bold Living Two, a serviced estate currently in construction, simulates the typical condominiums style for living in upwardly mobile communities. The project is also located in Lekki, Lagos. It is delivered with Gym, Mini mart, Co-work space, Bar/lounge area, and play area.
About Rock Reality
Rock Realty is a unique real estate advisory Company whose services are significantly tailored to the middle class, and they focus on working with groups of subscribers in the planning of our projects to make home ownership & real estate investments seamlessly achievable for the middle class. Rock Reality’s projects are structured to enable middle-income earners to purchase homes using a blend of the National Housing Fund Mortgages (from the Federal Mortgage Bank of Nigeria) and mortgages from other Primary Mortgage Banks.
Contact: Details:
Name: Ibukun Adebayo
Website: www.rockrealtylimited.com
Email: info@rockrealtylimited.com
Tel: +2348069439534
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