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Project Description
Project Name
Nigeria 100,000 Affordable Suites Project
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Date
Project Type Equity investment projects

Investment Mode
joint venture,Other
Industry  Real estate
Location Nigeria, Africa
Project Advantages
Project validity period a year
Mark general 
Project properties encouraged
Estimated Investment
Total amount of project capitals 27 Ten thousand U.S. dollars
Total amount of investment to be attracted 27 Ten thousand U.S. dollars
Expected annual sales revenue  Ten thousand yuan(RMB)
Expected investment payback period  Year
Expected employment figure People
Project description
Description of environment protection

Description of investor conditions
Description of project contents
I. Project overview The “Nigeria 100,000 Affordable Suites Project” (for public servants of Abuja and the areas around) will be completed jointly by the Federal Housing Authority of Nigeria and a Nigerian company——Shen Zhi Yue Rong Yao Co., Ltd. After built up, the suites will be bought by the Federal Mortgage Bank of Nigeria for residents. According to the Nigerian government’s statistics of 2015, the country’s housing gap was more than 17 million suites that year. This year, this gap will be widened. The Federal Mortgage Bank of Nigeria has collected the housing accumulation funds of the past 20 years, and will sign a warranty valid for 1-15 years on buying the suites after the project is completed. The total investment of the project is USD 2.7 billion. As the legal representative, the company holds 80% shares and independently controls the bank account of the project. In addition, the shareholding ratio of the project has been changed with Nigerian competent administration of industry and commerce. All the land necessary for implementing the project will be supplied by the Nigerian government for free. The project can bring the following benefits to Chinese economy: 1. The project can offer many job opportunities. 2. Under the impetus of the project, Chinese enterprises can contract for overseas projects up to USD 2.7 billion. 3. No foreign exchange fund of China will be drawn upon for the project. 4. Through the project, we can earn foreign exchange in quantity. II. Project name: Nigeria 100,000 Affordable Suites Project III. Project profile The project refers to building 100,000 affordable suites with total investment of USD 2.7 billion in 2-3 years. In detail, 10,000 one-storey buildings (60m2/suite), 5,000 two-storey buildings (60m2/suite), 2,000 three-storey buildings (70m2/suite), 100 ten-storey buildings (120m2/suite), 30 sixteen-storey buildings (120m2/suite) and 10 twenty eight-storey buildings (120m2/suite) will be built. IV. Financing plan 1. We will find a general contractor willing to implement the project at its own cost. 2. We will seek funds or loans from banks or private entities. 3. No interest will be accrued within the construction period. The annual interest rate after the housing delivery will be 7%. V. Prospect Nigeria is in lack of housings. This is the first affordable suite project. Subsequently, 10 additional affordable suite projects will be launched. VI. Market analysis Except South Africa, Africa is very poor and backward, comparable to the 1970s’ China. At present, Nigeria’s housing gap is more than 17 million suites. Seen from this, the country has a huge potential for affordable housing development. The project has two advantages: 1. Affordable suites are salable in Nigeria and even the whole Africa; 2. All the real estate projects in the country are contracted for by Chinese enterprises. In addition, the company has the following advantages: 1. Hold 80% shares of the project; 2. Act in the capacity of the legal representative of the project; 3. Independently control the bank account of the project. VII. Construction period The project is divided into 3 phases. 1. Phase 1: 30,000 suites; 2. Phase 2: 30,000 suites; 3. Phase 3: 40,000 suites VIII. Details of buildings 1. 10,000 one-storey buildings (bungalow): 40,000 suites (60m2/suite, composition of suite: 2 bedrooms + 1 kitchen + 1 toilet) 2. 5,000 two-storey buildings: 30,000 suites (60m2/suite, composition of suite: 2 bedrooms + 1 kitchen + 1 toilet) 3. 2,000 three-storey buildings: 16,000 suites (70m2/suite, composition of suite: 3 bedrooms + 1 kitchen + 1 toilet) 4. 100 ten-storey buildings: 8,000 suites (120m2/suite, composition of suite: 4 bedrooms + 1 kitchen + 2 toilets) 5. 30 sixteen-storey buildings: 3,840 suites (120m2/suite, 2 elevators/building, composition of suite: 4 bedrooms + 1 kitchen + 2 toilets) 6. 10 twenty eight-storey buildings: 2,240 suites (120m2/suite, 2 elevators/building, composition of suite: 4 bedrooms + 1 kitchen + 2 toilets) In total, 100,080 suites will be built.
Company/Organisation Contacts
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Copyright:Ministry of Commerce of the People's Republic of China
Sponsor::Investment Promotion Agency of the Ministry of Commerce
Address:28 Donghou Lane, Andingmenwai, Dongcheng District, Beijing
Tel:010-64404506       
Site Management:E-commerce and Information
Technology Division of the Ministry of Commerce
ICP Record No.:Beijing ICP 14022686
Postal Code:100710      E-mail:project@fdi.gov.cn