Heroes & Heroines Cooperative Society Limited

What if you can buy shares (co-ownership) in individual houses or apartments just as you buy and sell shares in the stock market? What if you can now sell a small fraction of your property when you need money instead of waiting for someone to pay for the whole property often at a poor price?

These opportunities are real with Adkan (Suncity estate, Vintage estate, Skyview Lagos & Abuja and Rose Court) houses and apartments co-ownership scheme.

Other benefits of joining our cooperative

Participation in shared facility management.
Participation in bulk importation plans.
Guaranteed liquidity & buyer if you want to sell.

Let’s say the 2 bedroom flat in Sun City estate Abuja is N70m each and I don’t have all that money for now.
Okay. Instead of losing out because I can’t buy it alone, I form a company with other people or an investment club. We pool our funds together and buy it for investment purposes.
We rent it out or use it for Airbnb and share the profit according to how much we contributed to buy the house.
Anyone who wants to sell some or part of his slot can do so to a follow co-owner or to anyone else outside. Yes, at his own price and terms.
If the co-owners decide to sell, they agree on their price and terms and after selling, they share the profit according to the percentage of their ownership in that property.
So, no more need for bank mortgage, no risk of losing your equity, no waiting to have so much before you can benefit from prime property.
And very importantly, you can now sell a fraction of your property if you need money and if you have more money later and someone else wants to sell, you can buy more.

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Roles

Parties & Addresses

1

Lead Scheme Arranger

Heroes & Heroines Capital Ltd, 3 Atabara Street, Wuse 2, Abuja

2

Vendor

Adkan Services Ltd, 50 Arsenal Street, Suncity Estate, Galadimawa District, Abuja

3

Mortgage Provider

Infinity Trust Mortgage Bank Plc, 11 Kaura- Namoda St, Garki, Abuja

4

Lead Buyer

Heroes & Heroines Multipurpose Cooperative Society Limited, 3 Atabara Street, Wuse 2, Abuja

5

Trustees to the Scheme

Capital Express Global Trustees Limited, Plot 1626 C-E Idejo Street, Off Adeola Odeku, Victoria Island, Lagos

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Name

Board Position

1

Dr Adeyinka Bibilari (B.Sc, M.Eng, Ph.D)

Group Chairman

2

Engr. Babatunde Olaleke (B.Eng, MSc, MNSE, C.Eng)

Executive Director

3

Dr. Banjo Obaleye (BSc, MBA, ACA, Ph.D).

MD/CEO, Infinity Trust Mortgage Bank Plc

4

Mrs. Tolu Osho (LLB, BL)

Group Secretary/Legal Counsel

Engineer (Dr.) Adeyinka Bibilari is a seasoned Administrator, an entrepreneur per excellence, Project consultant and an astute Businessman. He holds a Bachelor of Science and a Master’s Degree in Civil Engineering from the University of Lagos and Nsukka respectively plus Ph.D in Business Administration from the America University of London. He has been a key player in the Nigerian construction industry for about 30years.

Dr. Bibilari pioneered the construction and development of “Abuja Model City” Project in Gwarinpa II, Abuja a Three Hundred And Fifty One (351) housing units which cost N7billion has received accolades both nationally and internationally. He is also the mastermind behind the ultra-modern “Abuja Sun City” Galadimawa, Abuja. The multibillion project which is meant for mixed incime earners is replete with modern infrastructures and recreational facilities. The first phase of the Estate was commissioned by the former President Chief Olusegun Obasanjo in 2006.

Engr. Babatunde Olaleke, a 1995 graduate of Civil Engineering from the University of Ilorin also holds a Masters in Project Management from the Robert Kennedy University, Wales, UK in 2014. He joined ADKAN SERVICES NIG. LTD in 1996 as a Pupil Engineer. By dint of hardwork and knack for professionalism, he has had a meteoric rise in the organization first as Site Engineer in 1999, Project Manager in 2001, General Manager in 2006, Group General Manager in 2007 and the icing on the cake was his promotion in 2015 to his present position of the Executive Director.

Over the years, he has been instrumental to the successful completion of such projects like the Naval Shipyard, Port-Harcourt, the Nasarawa Housing Estate, Lafia, Abuja Model City, Monarch Garden Estate, Vintage Estate, Mayfield Specialist Hospital, Sun-City Estate Abuja e.t.c

He is member of both the Nigeria Society of Engineers (MNSE) and the prestigious Council for Regulation of Engineering in Nigeria (COREN). Engr. Olaleke is result-oriented, positive thinking and a stickler for excellence. This vital attributes he has brought in the daily discharge of his duties.

Dr. Olabanjo Obaleye studied Management and Accounting at the Obafemi Awolowo University, Ile-Ife. He holds a Master Degree in Business Administration from the University of Abuja, with specialization in Financial Management.

He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN), Nigeria Institute of Management (NIM), the Nigeria Institute of cost Management (NIMC) and the Chartered Institute of Taxation of Nigeria (CITN). He recently bagged Doctorate in Business Administration (DBA) with specialization in Mortgage Finance from the prestigious Walden University, USA.

He started his banking career with Afribank in 1991 and later proceeded to Midas Bank Plc and Societe Bancaire Nigeria Limited. He, at various times has worked and headed different sections of banking operations. Obaleye’s passion for details and his untiring quest for efficient and value added service delivery has won him accolades from different quarters.

He has attended various seminars, workshops, conferences, courses both nationally and internationally; and papers on diverse field (Finance, Banking, Mortgages, Leadership, Capacity Building and delivery). He is currently the Publicity Secretary of MBAN (Mortgage Bankers Association of Nigeria. He is an alumnus of Wharton Business School, Philadelphia, USA. He plays golf.

Mrs. Tolu Osho, the Group Secretary, obtained a law degree at the University of Abuja in 1996 and B.L in 1997 at the Nigerian Law School.

She started her career at Code of Conduct Bureau in Abuja in 1998 and later worked as an Associate in the law firm of Koya and Kuti Solicitor in Lagos till 2000 when she relocated to Abuja.

She joined Adkan Services in October 2002 as the Legal Officer and rose through the ranks to become the Group Secretary.

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Name

Position

1

POPOOLA NATANIEL OLAYINKA (HND, MNIQS, RQS)

Quantity Surveyor

2

Arc. Lawal Teslim Olaniyi (B.Tech, M. Tech Architecture)

Project Manager

3

UHIARA Chiemezie Nwachukwu (BSc./MSc. Architecture, ANIA)

PROJECT ARCHITECT

4

Engr. Sikiru K, Adeboye (B.Sc., M.Sc., R.Eng., MNIstructE, MNSE)

STRUCTURAL ENGINEER

QS POPOOLA NATHANIEL, the resident quantity surveyor for Adkan Services Nig. Ltd is a graduate of quantity surveying from The Polytechnic, Ibadan.

He started his quantity surveying career with Remi Akinboro and Associates at Ladipo, oshodi, Lagos in 1992.

He joined Adkan Services Nig. Ltd. in May 2003 and has since then been contributing his quota in adding value to the company.

Arc. Lawal Teslim, is a graduate of Abubakar Tafawa Balewa University Bauchi where he obtained a Masters degree in Architecture in 2004.

His performances and zeal to execute assignments given to him during his industrial attachment (IT) with Adkan Services Nig. Ltd. in 1999 earned him an automatic employment after graduation in 2004.

Over the years, he has been instrumental to the successful completion of building projects like Abuja Model City, Monarch Gardens and Vintage Estate. He rose through the ranks to become a senior management staff overseeing some of the subsidiaries’ such as Paramount Wood Work Ltd, Zuma Paints and Chemical Ltd. He is also the current General Manager of Blooms Schools Abuja (Blooms Academy and Blooms College).

Uhiara Chiemezie Nwachukwu, is the Project Architect for Adkan Group. He is an Associate member of the Nigerian Institute of Architects (NIA). He obtained his BSc. Architecture degree in 1999 and MSc. Architecture in 2002, both in Abia State University, Uturu.

He started his career with J. Hausen Ltd, Jos, in 2003. He designed, planned and delivered Citrus Gardens Estate (a thirty unit residential estate, made up of three bedrooms each for UniJos Senior staff).

He joined Adkan Services Nig. Ltd, in 2006. He planned and designed the phase 2,3 and 4 of Suncity Estate (Galadimawa, Abuja), Infinity Mortgage Bank Headquarters (Area 3, Abuja) Vintage Estate (Karu, Nassarawa State), modified Monarch Gardens Estate (Lifecamp, Abuja), Paramount Woodworks Factory (Idu, Abuja), Veritas Plastics (Idu, Abuja), De Royal Noodles and water Factory (Karu, Nassarawa state) and many other projects within and outside Abuja metropolis.

His dedication to excellence and active service has seen him grow through the ranks to senior management position. He has held different positions at Paramount Woodworks Ltd as (Designer, Project manager, Chief Operating Officer and Assistant General Manager). He is also the Assistant General Manager at Zuma Paints and Chemical Company Ltd while handling any Architecture related issues of the Adkan Group.

Engr. Sikiru Adeboye, obtained his Bachelor of Science and Master of Science degree from the University of Ibadan in 1999 and 2008 respectively. He became corporate member of Nigeria Society of Engineers (NSE) and Nigerian Institution of Structural Engineers (NIStructE) in 2011, and was registered as a Civil engineer with the Council for The Regulation of Engineering in Nigeria in 2016. He started his engineering career as an industrial trainee at OSOT Consulting Engineers and Associates in 1997. He has worked with various private firms and companies in different area of responsibilities as clerk of works, site engineer, resident engineer, site agent, design engineer. He has been involved in the execution of various projects for individuals, organizations, institutions and governments. His area of specialization has been in the design and construction supervision of reinforced concrete and steel structures. He joined Adkan Services Nigeria Limited in 2012 as a Senior Civil Engineer, he is presently the Structural Engineer for the company.

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Project Name & location

Number of units and year

1

Abuja Model City, Gwarimpa, Abuja

350 units, 2002 to 2003 – sold out

2

Sun City, Galadimawa, Abuja

2,200 units, 2003 till date – still selling

3

Monarch Garden Estate, Life Camp, Abuja

37 units – sold out

4

Vintage Estate, Karu, Abuja

900 units – still selling

5

Skyview Terrace, Ikeja, Lagos

45 units – still selling

6

Skyview Apartments, Galadimawa, Abuja

48 units – still selling

7

Maputo Mansions, Galadimawa, Abuja

37 units – still selling

8

Rose Court, Karu, Abuja

10,000 units – still selling

This is a Joint Venture Partnership with the Federal Housing Authority (FHA).

The Estate is Located within Gwarimpa Phase 2 area of FCT, this project consists of 351 housing units of 3 – 5-bedroom houses and apartments. The project commenced in 2001 and was completed in 2003, it had a project duration of 18 months. We obtained a total facility of ₦ 1.2 billion ($ 10.4 million at ₦115 per USD as at 2002).

Abuja Model City was developed in partnership with FHA to provide mixed income housing to the people of Abuja and it turned out to be a massive success.

The company was able to make good returns on the investment (ROI) within an 18-month project duration for a total project cost of N12 billion

Located in the Galadimawa area of FCT, this project consists of 2,200 housing units. This project was embarked upon after the successful completion of Abuja Model City. This project commenced in 2003 and the first phase, which consists of 350 housing units was completed in 18 months. The first phase was commissioned in 2005 by the then President of Nigeria, Olusegun Obasanjo.

The project was funded by an initial loan of ₦ 850 million ($ 8 million) from Associated Discount House (ADH) and Intercontinental Bank Plc. This loan was paid off within 6 months of project development (again, demonstrating good ROI). The rest of the housing project has since been financed by Infinity Trust Mortgage Bank (ITMB). To date, over 1,800 housing units have been completed and sold within the estate. The total project cost is over N 30 billion.

The suncity project was initially structured to be funded with a loan of N850M from Associated Discount House / Intercontinental Bank Plc in 2003, and with Infinity Trust Mortgage Bank appointed funds manager and funds arranger for the project finance in 2003.

This arrangement was successful and the initial loan was fully paid off, after the development of the phase I of the project with about 350 housing units by July 2005.

Infinity trust was then appointed as the sole funds manager in July 2005, with the mandate to be project funds arranger, funds monitor and major financier of the remaining phases II,III, & IV of the suncity project which comprises of about 1,800 units of houses with over N30 Billion Naira in project turnover to date.

There are various residential house types in Suncity, ranging from 1,2 & 3 Bedroom apartments, 2 & 3 Bedroom Bungalows, 3 Bedroom Terrace duplex, 4 bedroom standard duplex and 4 bedroom luxury duplex. The estate is also developed with a nursery, primary & secondary school for the residents.

It also has a 250 Bed specialist Hospital constructed at a cost of over N5 Billion Naira, A petrol filling station and LPG tank filling station are all part of the development of Suncity Estate. This estate has over 10,000 occupants to date.

Adkan developed this high end estate with a full compliment of internal road networks, underground electricity, underground sewage, water supply, police post, school, hospital, petrol & LPG Filling stations, shopping centre, security with CCTV monitoring, e.t.c

This successful financial & development cooperation between Adkan Services Nig. Ltd and Infinity Trust Mortgage Bank has been extended to other housing development projects under taken by the company in the last 10 years.

This project was conceived as a high end housing project, situated on 2.3 Hectares of land in Life Camp area of Abuja, FCT, with a total project cost of N3 Billion

It comprises of 37 units of 5 bedroom luxury duplexes and was developed within 15 months of construction. It has internal road networks, street lighting, underground sewer and electricity among other amenities. The project was financed by Infinity Trust Mortgage Bank Plc.

Maputo is a 37 units of 7 bedrooms plus maid’s room (making it 8 bedrooms) mansions located within Suncity estate with its own gated community. Each mansion has provision for two extra units of one room self contain each at the back and an optional swimming pool or court yard space. All rooms are ensuite with their walk in closet with a living room on the ground floor, a family living room in the first floor, a masters living room and study on the second floor.

Vintage Estate was conceived as a low/middle income estate, located in karu, Abuja. It comprises of 900 units of 2 & 3 bedroom bungalows, with a total project cost of N 7.2 Billion.

This project was developed within 24 months. It has a good internal road networks, street lighting, overhead electricity network e.t.c

This project was also financed by Infinity Trust Mortgage Bank Plc.

Skyview Apartments is an estate within Suncity estate. It comprises of 32 units of tastefully finished 2 bedrooms flats and 16 units of tastefully finished 4 bedrooms terraces. That’s why we made provision for spacious parking space in a prestigious neighbourhood.

It was conceived and built with the view that owners could use it for residence, AirBnB or other short stay services and confidential home offices in a quiet environment. It has a good internal road networks, street lighting, underground electricity network e.t.c

This project was also financed by Infinity Trust Mortgage Bank Plc.

Located in the capital of Lagos State, SKYVIEW apartment  consists of 3-bedroom apartment with maid’s quarters, two parking spaces, walk-in closets, and comfy patios  which makes your home seem like a vacation retreat on a daily basis.

Proximity of the property

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Point of Interest

Drive Time

1

Murtala Mohammed Airport

6 minutes’ drive

2

Ikeja City Mall

7 minutes’ drive

3

Lagos State University Teaching Hospital

5 minutes’ drive

4

Ikeja Plaza

5 minutes’ drive

5

Wemabod Estate

8 minutes’ drive

6

Ikeja Club

5 minutes’ drive

7

Ikeja GRA

7 minutes’ drive

Features of Skyview Homes, Ikeja, Lagos

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Features

 

Features

1

150 sqm

9

24 hrs electricity

2

Elevator

10

Drainage system

3

Swimming pool

11

PABX system

4

Gym

12

Gated community

5

CTVV

13

Water treatment

6

Fully fitted kitchen

14

Fully fitted wardrobe

7

All bedrooms ensuite

15

Master bedroom ensuite with bathub & shower

8

Electronics furnishing option

16

Fully fitted W.I.C for the Master bedroom

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Company Name and Location

Core Business

1

Adkan Services Nig Ltd, Abuja

Real estate development

2

Zuma Paint Company Ltd, Idu, Abuja

Paint Manufacturing

3

Veritas Plastics Nig Ltd, Idu, Abuja

Plastics Manufacturing

4

Paramount Woodworks Nig Ltd, Idu, Abuja

Doors, Kitchen Cabinets and Wardrobes manufacturing

5

Great Aluminum Co Nig Ltd, Idu, Abuja

Aluminum Roofing Sheets manufacturing

6

Royal Mills & Food Ltd

Noodles, Table Water & Biscuits manufacturing

7

Green Springs Nig Ltd

Food seasonings manufacturing

8

Starco Nig Ltd

Cassava starch manufacturing

9

Ideal Cartons Nig Ltd

Paper cartons manufacturing

10

Blooms Academy & College

Nursery, Primary & Secondary Schools

11

Mayfield Specialist Hospital

Healthcare provider

12

Regal Garments Nig Ltd

Schools uniforms manufacturing

Adkan Services Nig. Ltd is the construction and investment arm of the companies set up by the group. It has a full compliment of construction equipment including but not limited to the following:

  1. Concrete Batching Plants
  2. Tower Cranes
  3. Concrete Pumps (Vehicle mounted)
  4. Concrete Mixer Trucks
  5. Bull Dozers
  6. Earth Graders
  7. Earth Rollers And Compactors
  8. Asphalt Batching Plant
  9. Asphalt Layer

10. Asphalt Rollers And Compactors

11. Assorted Block Making Machines

12. Concrete Rings Making Plant

13. Concrete Electric Poles Making Plant

14. 25 & 30 Ton Mobile Cranes

15. Assorted Hiab Trucks

16. Steel & Stainless Steel Welding Machines

17. Aluminum Window/Doors Fabrication Equipment

18. Assorted Earth Excavators

19. Assorted 100 – 350 KVA Electricity Generators

20. Steel Fabrication Workshop … e.t.c

This is a paint manufacturing company, established in 2001 and located in Idu Industrial Estate, Abuja. It manufactures all sorts of decorative paints used in Housing construction. It employs only 2 expatriate staff, the rest are Nigerians.

This is a plastic manufacturing, located in Idu, Industrial Estate, Abuja. It manufactures plastic ceiling, plastics pipes (electricity conduit, water supply and sewage pipes) which are used in the construction industry. It also produces all sorts of injection moulded plastics, Bowls, Chairs, plates e.t.c. Blow mould plastic containers, keys e.t.c, Extruded plastics, laminated plastics e.t.c. Veritas produces all electrical / water/ sewer pipes used by Adkan Services in all our projects.

It employs only 3 expatriate staff, the rest are Nigerians.

This is a woodwork company located in Idu Industrial Estate, Abuja. It manufactures various wood products, including Doors, Wardrobes, Kitchen Cabinets e.t.c all used in Housing development. It has all modern equipment from wood seasoning kiln, to Beam Panel Saw, Spray Painting Workshop e.t.c

It also employs only 2 expatriate staff, the rest are Nigerians.

This company manufactures aluminum Roofing sheets, located in idu industrial Estate, Abuja. It corrugates all sorts of long span aluminum corrugated roofing sheets used in the construction industry.

Adkan group has other companies involved in the manufacturing of other items:

1. Royal Mills & Foods Ltd: manufacturers of De Royal Noodles and Table water, Biscuits, extruded snacks e.t.c

2. Green springs Nig. Ltd : manufacturers of food seasonings

3. Starco Nig. Ltd: manufacturers of cassava starch

4. Ideal Cartons Nig. Ltd : manufacturers of paper cartons

5. Blooms Academy & College : Nursery, primary & secondary schools

6. Mayfield Specialist Hospital

7. Regal Garments Nig. Ltd: Manufacturers of school uniforms.

The rest of the companies in the group employs only 10 expatriate staff, the rest are Nigerians.

 

 

What are the benefits of joining our cooperative?

Ability to participate in lucrative big tickets transactions

Participation in house co-ownership plans
Participation in dollar savings plans
Participation in software deals
Access to a network of possible clients
Participation in U.S equities trading
Private equity opportunities
A network of links if you have something to sell
Group whole life insurance plans

Frequently Asked Questions

Registration is N10,000 yearly. How much you invest in property and the choice to participate in every other scheme by the cooperative is left to you.

You buy or participate according to your budget.

No. You can buy on your own or buy with your friends or buy via your existing cooperative.

You are only offered the opportunity to join our cooperative if you can’t come up with all the money, are not able to get a budget and do not want to miss out on the opportunity.

You can still join if you want the liquidity that comes from fractional ownership of property and the ability to sell some units of your holdings if you want to.

Each unit owners would be registered as shareholders in a new company that would hold the title to the property.

All documents are kept with the Trustee to the scheme, licenced by the Securities & Exchange Commission of Nigeria. Each unit holder would be given a notice of allotment signed by the Trustees and Adkan as parties and the Cooperative as witness.

Being a Special Purpose Vehicle (SPV), it can only be used for holding the title to the house or apartment or land for which it was incorporated. It has no powers to apply for bank loans or issue contracts or be used for any other purpose unless the Articles and Memorandum of Association are duly amended.

The cooperative will from time to time publish the fair market value of each property and the forced sale value and if possible, the actual prices that were paid for units sold recently.

Those who want to sell can sell their own lots without waiting for others.

Anyone who wants to sell must call his price and be willing to buy out others at the price he was calling for his own unit’s lots.

But no one is ever compelled to sell.

Just login to the secondary market, list your lot and price, people will bid, you accept a bid and the bid winner pays.

Anyone can login to our secondary market and list his own lots for sell at his own price.

You can keep your own lot and remain a part owner of that house irrespective of who your new co-owners are.

No. Each lot holder or co-owner is free to set his own price, decide if he wants to sell or not and when he wants to sell or not.

You must report to the cooperative so the documents can be updated with the Trustees and we can get to know the new owners. It makes verification easier and gives both existing owners and potential buyers peace of mind.

Yes, you can sell your units at your own prices but you’ll need to inform us of who the new owners are.

You leave them alone and buy from those who want to sell or go and buy another unit entirely.

The co-owners will meet in a WhatsApp group to decide how to manage their property. The cooperative will profile a list of facility managers but unit owners and co-owners are not obliged to pick from the list.

No. All our savings are tied to an asset or opportunity and our returns is the direct returns from that asset or opportunity.

Yes, provided the lender accepts fractional interest in a house or apartment and understands that only some fractional units of the property are mortgaged and not the whole apartment or property.

N400,000 – Four hundred thousand naira.

Yes, but it would attract a 15% fee to cover the additional cost of managing the process.

Adkan has been in real estate development for more than 30 years and is a strict compliant developer.
That’s why they have a clean bill of health from all the administrations of Nigeria and FCT till date.

Adkan has a very respected reputation to protect and has its own complete set of construction equipment and factories that manufacture many of their development inputs.

Adkan has a very respected reputation as the developers of Abuja Model City (Gwarimpa), Suncity ( Galadimawa ), Monarch Gardens (Life Camp), etc. We have more than 10,000 satisfied occupants of our homes so far.

Adkan has a very respected reputation as the developers of Abuja Model City (Gwarimpa), Suncity (Galadimawa), Monarch Gardens (Life Camp), etc. We have more than 10,000 satisfied occupants of our homes so far.
We have our own construction equipment and factories and are not struggling to hire equipment.

Maputo is an exclusive estate inside Suncity estate and Suncity estate alone has more than 2,200 homes and more than 10,000 current occupants . It has schools, shopping plazas, estate bus shuttle service, police post, bank, well maintained internal estate roads, covered drainage, etc
We have our own gym, and ultra modern shopping mall under
construction and so more people will want to live in Maputo.

SkyView Abuja is also an estate inside Suncity estate.

SkyView Ikeja is located where people are already living.

Vintage estate has more than 200 families living in it already.

Rose Court is a new estate and is sitting directly opposite Vintage estate and like all our estates, we have a solid plan to attract occupants. We have done it several times to know what works.

We invested in our construction equipment, factories and parts when dollars was still manageable. Between a firm that has its complete equipment and factories and a firm that is still hiring equipment, who has the best chance of fixing roads and maintaining them?

We have neatly fixed internal roads in all our estates and have thecapacity to maintain them for life.

Adkan has helped more than 5,000 of her customers get their C of O.

We have the relationships and understand the process and will help you.

Suncity has more than 10,000 occupants alreadyand more people want to live in Suncity.


The team behind Fundgist will be there to help you find good tenants.

Fundgist is working on a model where all apartments could be treated as a Short Stay Apartment so occupan t s could be evicted using hotel eviction laws instead of waiting for tenants eviction process.


That should make getting rent payment easier.

We
have taken care of that so we can guarantee that your mortgage application should be approved in 30 days or less if you’re qualified.

Yes, 30 days from the day you
submit your complete application.
That should make getting
mortgage loan easier.

You will need to provide at least 40% equity participation.

Interest rate is 20 – 30% p.a depending on your credit rating.

Tenor is a maximum of 20 years or your current age minus 64 whichever is lower. That means if you’re 50 years old and would be retiring by 65, you have 14 years to the year before retirement. The plan is that you should pay off your mortgage before retirement age.

Facilitation fee – 1%

Insurance – 0.5%

Yes, for a one off premium payment, if anything happens to you (death or permanent disability), the insurance company will pay off the outstanding principal of your mortgage.


That way, you or your family doesn’t lose your house.

Basic Description of Cover
The policy is designed to pay the outstanding amount (minus interest) on a mortgage taken by
the policyholder upon his demise provided there has been no default. The cover can be extended
to include Critical Illness and/or Total and Permanent Disablement.
Benefit is usually paid to the financial institution that advanced the mortgage. Persons eligible to
take policy are those within 18 and 65 years of age. Critical illness terminates on attainment of
age 60.
Information Required to Underwrite:
– Name of assured
– Sum Assured
– Mortgage Amount (Sum Assured)
– Interest Rate
– Duration

Firstly we need to know the net income of all interested participants, and the type of house they’re interested in .
That will guide us to also do a repayment schedule to suit each of them .

Meanwhile this is our pricing and mortgage loan requirements

Our rate is 24%p.a

Tenure 5-15years

1% upfront fee upfront of the loan amount at disbursement

Valuation 40k

Legal Search – Abuja 30k

Legal search – Lagos 4ok

Cost of perfection legal department will communicate before disbursement *

Credit check 5k

12 months bank statements {salary/business}

6months pay slips

Introduction letter address to the MD infinity trust mortgage bank plc ,No 11 Kaura Namoda Street Area 3, Abuja from your employer (if employed)

Copy of your valid means of ID and work ID

4 passport photos

company documents ie CAC documents if applicant is a business person

24 copies post dated cheques as additional comfort

Recent personal tax clearance certificate

copy of the CofO and RofO of the property to be purchase

We have a global Trust Deed with a Trustee licenced by the Securities & Exchange Commission (SEC) of Nigeria that ensures that all parties to the transaction keep their terms and we can deposit your title
document with the Trustee for safe keeping.

Adkan and the cooperative will keep an eye on the property.

Maximum 6 installments spread over a maximum of 6 months before you take possession of the property or lot.

2 bedrooms – N30million

3 bedrooms – N45million

1 bedroom – N15million

2 bedrooms – N30million

3 bedrooms – N45million

It works like every other mortgage loan only that instead of buying a house or apartment alone, you are buying co-ownership in a house or apartment.

Each individual will be responsible for his own loan even though they collectively bought the same house or apartment.

Anyone who defaults will only risk his share of ownership in the house or apartment. The whole apartment or units would not be affected.

Yes. We are working on a section of this website where unit or lot holders can list their lots or units for sale, potential buyers can bid and the seller can accept an offer and close the bid.

It should be ready in 6 months from the closing of the first tranche of the co-ownership scheme.

House type

Price in 2004

Price in 2024

3 bdrooms fully detached bungalow – carcass

N6,930,000

N100,000,000

4 bedrooms standard duplex – carcass

N19,000,000

N160,000,000

5 bedrooms luxury duplex – carcass

N32,400,000

N220,000,000

s/n

House type

Status

Unit Price

No of lots

 

Suncity Abuja

1

3 bedrooms fully detached bungalow

carcass

N100,000,000

250

2

4 bedrooms standard duplex

carcass

N160,000,000

400

3

5 bedrooms luxury duplex

carcass

N220,000,000

550

 

Skyview Terrace, Suncity, Abuja

4

4 bedrooms terrace duplex

finished

N140,000,000

350

5

2 bedrooms flat

finished

N70,000,000

175

 

Maputo, Suncity, Abuja

6

7 bedrooms luxury villa with maid’s room, swimming pool or courtyard

carcass

N200,000,000

500

 

Skyview Maisonette, Ikeja, Lagos

7

3 bedrooms penthouse

finished

N220,000,000

550

8

4 bedrooms maisonette

finished

N220,000,000

550

 

Vintage City, Karu, Abuja

9

2 bedroom semi-detached bungalow – old

carcass

N17,200,000

43

10

3 bedroom fully detached bungalow – old

carcass

N20,000,000

50

11

2 bedroom semi-detached bungalow – new

carcass

N30,000,000

75

12

3 bedroom fully detached bungalow – new

carcass

N45,200,000

113

 

Rose Court, Karu, Abuja

13

1 bedroom

finished

N15,200,000

38

14

2 bedrooms flat

finished

N30,000,000

75

15

3 bedrooms flat

finished

N45,200,000

133

Each lot is N400,000 today. Each lot represents a unit of ownership in the house or apartment.

A lot in our case represents fraction of a house or apartment. So a house with 50 lots means N400,000 in 50 places can buy the house. It could be divided any how among lot holders depending on how much they subscribe.

A unit refers to a house or an apartment.

A lot refers to a fractional ownership in a house or an apartment.

No. There’s free entry and free exit. There’s no price controls.

That means that from the same house or the same apartment, one lot holder can sell his own for N1m, another lot holder can sell his own for N3m and another one can sell his own for N15,000 on the same day, in the same property.

Yes, as long as your lot prices are attractive to a willing buyer.

If your prices are not fair or attractive, why would someone buy?

We have an underwriter on a standby basis. At the close of each campaign, if we do not have enough to pay for a unit, the underwriter will pay the shortfall so the purchase can be completed and all subscribers will get their lots in the unit.

Take for instance, if a house is N100m and at the end of a campaign we had N49m, the underwriter will pay the remaining N51m so the unit can be completely paid for.

The underwriter then becomes the owner of those lots and has all the rights and privileges of other lot holders including the freedom to keep the lots or sell at his own price at his own time.

Our Estates

Suncity

Vintage City

Skyview, Lagos

Skyview, Abuja

Maputo

Rose Court

Skyview Abuja, Listings

306 Days Left
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Goal: 70,000,000.00
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Goal: 70,000,000.00
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Goal: 70,000,000.00
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Goal: 140,000,000.00
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Goal: 140,000,000.00
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Goal: 140,000,000.00
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Goal: 140,000,000.00
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Goal: 140,000,000.00
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Goal: 140,000,000.00

Skyview Lagos, Listings

306 Days Left
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Goal: 220,000,000.00
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Goal: 220,000,000.00
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Goal: 220,000,000.00
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Goal: 220,000,000.00
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Goal: 220,000,000.00

Suncity Abuja, Listings

306 Days Left
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Goal: 100,000,000.00
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Goal: 100,000,000.00
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Goal: 100,000,000.00
306 Days Left
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Goal: 160,000,000.00
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Goal: 160,000,000.00
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Goal: 160,000,000.00
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Goal: 220,000,000.00
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Goal: 220,000,000.00
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Goal: 220,000,000.00

Maputo Abuja, Listings

306 Days Left
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Goal: 200,000,000.00
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Goal: 200,000,000.00
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Goal: 200,000,000.00

Vintage Abuja, Listings

306 Days Left
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Goal: 17,200,000.00
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Goal: 17,200,000.00
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Goal: 17,200,000.00
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Goal: 17,200,000.00
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Goal: 17,200,000.00
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Goal: 17,200,000.00
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Goal: 20,000,000.00
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Urgent Issues?

Call us on +234 808 222 6595

Email us at: fundgist@gmail.com

About Xavier Effiong

Xavier Effiong was trained by Catholic priests in St. Joseph Major Seminary, Ikot Ekpene. He holds a B.Phil (First Class) from Pontifical Urban University, Rome and a B.A (First Class) from the University of Uyo, Nigeria.

He has taught C.R.S and C.R.K for years in Assumption Girls Juniorate, Ndon Ebom, Head Start Schools, Uyo, Olumawu College, Abuja and Danbo International School, Abuja. He has led several students who were labelled as “slow learners,” “unserious,” or “dull,” to A1 in C.R.S and high scores in JAMB, often in a matter of months using technology and the latest scientific discoveries in learning.

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