Real Estate firm, Landwey, has acquired a stake in tech platform for funding real estate projects online, Vistafront. Landwey made the investment to cash-in on the role Vistafront is playing in the Real Estate industry in Nigeria.
Landwey, which has projects in commercial, retail and residential property segments, acquired 25% stake in Vistafront to become one of its major investors. This move by Landwey is a means to be more deep-rooted in opportunities that are available in the Real Estate market.
Why Vistafront is a big deal: Vistafront’s presence in the Real Estate market has made it easier for individuals interested in investing in Real Estate for short or long-term gain. With Vistafront, investors can make an investment in building projects at the comfort of their homes through a mobile phone.
[READ ALSO: N500m invested by Ikeja Electric to boost power supply]
According to the Founder/Chief Executive Officer of Landwey, Olawale Ayilara, the company has always had eyes for opportunities to evolve in the market.
“We are always proud when we spot opportunities for our clients and followers to be more involved in real estate projects that will give them the best returns for their money… We understand the need to continually evolve as we serve the industry. We are glad that with this partnership, we can fully support and encourage everyone to fund real estate projects.”
Hitting the ground running: Ayilara revealed that Vistafront had been incorporated for interested investors to make investment in the ongoing project of Landwey.
“There is an ongoing project called Bloom 1. It is a bridge financing for land acquisition for 14,000 square meters nested in the heart of Lekki Epe Expressway, Lagos. With as low as N25, 000 per unit, you can fund as many units as you like and make 12% return in six months.
“Vistafront’s mission on the partnership is to provide quality infrastructure for all, so 1% of every unit you fund goes toward Social Infrastructure Impact Project (SIIP) like schools, community homes, hospitals and other social amenities accessible to the less–privileged.
[READ MORE: Key things to consider when investing in real estate investment trusts]
“However, once 1% of your total funding reaches N10,000 for any project, Vistafront will automatically place a cap so that the total amount you pay for SIIP does not exceed N10,000 irrespective of the number of units funded.”
Speaking on the acquisition, the Managing Director of Vistafront, Segun Ajuwon, said, “We have gotten a lot of positive feedback since we launched, and we have plans to continue to launch new projects.
“For every project we feature on the site, we also have in place a strict vetting process carried out by our in-house team and our other partners like Nachtwey Advisory Services Limited, a SEC- registered Asset Management company; Emerging Africa Capital Group, a licensed Trustee firm; and AXA Mansard, a trusted insurance company.”
