Haldane McCall Unveils Bold Plans: N250bn Bond to Tackle Nigeria’s Housing Deficit
- Posted on December 23, 2024
- Real Estate
- By Samiat
Haldane McCall Unveils Bold Plans: N250bn Bond to Tackle Nigeria’s Housing Deficit ️
Detailed Highlights:
1. Company Milestone:
• Haldane McCall Plc recently listed on the main board of the NGX, with a promising start as its stock price surged, reflecting investor confidence.
• The Group Managing Director, Dr. Edward Akinlade, shared plans to maintain transparency by releasing year-end accounts in February 2025.
2. Ambitious Fundraising Goals:
• Plans are underway to issue a N250 billion bond in tranches of N25 billion to fund affordable housing projects.
• Partnerships with organizations like the Labour Congress, TUC, and Lagos State Government are being explored to ensure the homes reach those in need.
• With the bond proceeds, the company aims to deliver 12,500 housing units at N20 million each, a bold move to address Nigeria’s housing deficit, currently estimated at 25 million homes.
3. Real Estate Expansion:
• The company plans to expand its land bank, focusing primarily on Lagos and Abuja, while considering distressed property acquisitions.
• Key projects include an 88-unit skyscraper in Opebi, Lagos, valued at N16 billion.
4. Hospitality Sector Plans:
• Expansion goals include building four new hotels in Lagos and two in Abuja over the next two years.
• Strategies to navigate rising costs include signing fixed-price contracts with subcontractors and advocating for reduced cement prices.
5. Corporate Governance & Investor Engagement:
• The company complies with NGX standards, boasting a strong board led by George Oguntade (SAN) and a Compliance Officer.
• Plans to declare 30% of profit as dividends by March 2025 after releasing financial results.
6. Outlook for Real Estate & Hospitality:
• Despite economic challenges, the sectors are performing well.
• Haldane McCall is introducing developer-financed home sales to alleviate prohibitive mortgage rates, allowing buyers to pay in installments.
Final Note:
The company remains committed to innovation in real estate and hospitality, aiming to set new standards for affordable housing in Nigeria.
Detailed Highlights:
1. Company Milestone:
• Haldane McCall Plc recently listed on the main board of the NGX, with a promising start as its stock price surged, reflecting investor confidence.
• The Group Managing Director, Dr. Edward Akinlade, shared plans to maintain transparency by releasing year-end accounts in February 2025.
2. Ambitious Fundraising Goals:
• Plans are underway to issue a N250 billion bond in tranches of N25 billion to fund affordable housing projects.
• Partnerships with organizations like the Labour Congress, TUC, and Lagos State Government are being explored to ensure the homes reach those in need.
• With the bond proceeds, the company aims to deliver 12,500 housing units at N20 million each, a bold move to address Nigeria’s housing deficit, currently estimated at 25 million homes.
3. Real Estate Expansion:
• The company plans to expand its land bank, focusing primarily on Lagos and Abuja, while considering distressed property acquisitions.
• Key projects include an 88-unit skyscraper in Opebi, Lagos, valued at N16 billion.
4. Hospitality Sector Plans:
• Expansion goals include building four new hotels in Lagos and two in Abuja over the next two years.
• Strategies to navigate rising costs include signing fixed-price contracts with subcontractors and advocating for reduced cement prices.
5. Corporate Governance & Investor Engagement:
• The company complies with NGX standards, boasting a strong board led by George Oguntade (SAN) and a Compliance Officer.
• Plans to declare 30% of profit as dividends by March 2025 after releasing financial results.
6. Outlook for Real Estate & Hospitality:
• Despite economic challenges, the sectors are performing well.
• Haldane McCall is introducing developer-financed home sales to alleviate prohibitive mortgage rates, allowing buyers to pay in installments.
Final Note:
The company remains committed to innovation in real estate and hospitality, aiming to set new standards for affordable housing in Nigeria.
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