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Housing Project, Latest News

Firm Gets NIDF Funding for Hostel Projects

The Founder and Chief Executive Officer of Student Accommod8, Abayomi Onasanya, said the hostels had been designed, built and managed to the highest standards, to provide value -added services including minimarts, cafeterias, laundry services and many more to not only the residents but also to the wider student community in the respective universities.

 

He stated that in the last decade, there had been a 12 per cent annual average growth of student enrolment in Nigerian tertiary institutions but that the provision of purpose-built student accommodation remained less than 30 per cent of the demand.

“With the ever-growing demand for student housing in Nigeria, Student Accommod8 plans to develop and or acquire 15,000 bed spaces in the next three to five years,” he said.

According to him, the Nigeria Infrastructure Debt Fund, managed by Chapel Hill Denham, is Africa’s and Nigeria’s first listed infrastructure debt fund.

He explained that the fund had been structured to enable domestic long-term savings such as pension and retirement assets to be safely channelled into productive infrastructure assets in the country.

He added, “While supporting commercially -attractive projects, NIDF enables its investors to benefit from the predictable returns available from long dated infrastructure debt investments.

“We are very excited to have a partner in the calibre of NIDF come on board and we look forward to a long and mutually- beneficial relationship which will impact the lives of Nigerian students positively.

“Our goal is simply to continuously deliver the best experience for students across the country. Nigeria’s students are the future and we intend to serve them the best way possible.”

The Chief Executive Officer, NIDF, Anshul Rai, said financing of social infrastructure, particularly in education and healthcare, remained central to NIDF’s investment objective as well as its broader mission to drive positive development outcomes.

“SA8 is operating in a sector with substantial unmet demand and its PBSAs will contribute to meaningful improvement in student welfare,” he said.

Source: Punchng

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