Popular real estate company, LandWey Investment Limited has forged a pact with PiggyVest, an online savings and investment platform to make land and house ownership affordable and seamless for Nigerians.
The partnership is targeted at low and middle-income earners to buy land in choice locations across the country on a per square meter basis.
Under the arrangement managed by LandWey, subscribers who invested in a landed property continually share the profit accruing on the land as the value of the property rises.
During a press briefing to launch the initiative in Lagos, CEO/Founder of LandWey Investment Limited, Olawale Ayilara stressed that the initiative would provide opportunity for average Nigerians to own a dream home.
According to him, the initiative would bridge the housing deficit in the country caused by high cost of securing and registering land title, inadequate access to finance, slow administrative procedures and the absence of a mortgage finance in the country.
He said, “The purpose of the partnership bears in mind that people save for several reasons, and on a trusted platform such as Piggyvest people can take little steps and buy real estate as either an investment or to be built in future. There has also been huge demand for land in fractions and with a platform like Piggyvest comes an advantage to access and own a piece of 100% genuine property.”
The CEO of PiggyVest Somtochukwu Ifezue said the partnership is a game-changer in bridging the housing deficit in Nigeria.
He explained that the initiative makes it easy not only for subscribers to buy into a property but they can also sell their portions for another willing subscriber.
Ifezue said the scheme affords people the opportunity to buy a square meter of land with little amount they would have saved in the bank.