Mixta Africa launches housing financing solution for mid-income home buyers

In response to the lack of access to housing finance which has contributed greatly to the housing deficit in Nigeria, Mixta Africa, one of the leading infrastructure and real estate development companies in Africa, recently unveiled a housing financing solution.

Known as the DUO, the housing financing solution, according to officials of the company, is designed for middle-income home buyers, which is part of their efforts at providing a secured, affordable and futuristic housing model.

“Lack of access to housing finance has contributed greatly to the housing deficit in Nigeria,” Sade Hughes, Mixta Africa’s Country Manager, explained at the launch of the financing solution in Lagos.

“DUO is an initiative for home acquisition focused on affordability for subscribers. The financial ecosystem is evolving and the cost of funds is a major stumbling block to realizing affordable housing,” Hughes explained further.

She noted that, as a responsive financial inclusion company, they needed to intervene and activate solutions that address the twin challenges of cost of funds and housing affordability.

According to her, the gap between demand and supply of affordable housing finance products was huge which presents a sizeable business opportunity and as an innovative financial inclusion company, the onus is on them to develop a solution that will critically tackle this deficit with the aim of easing housing finance for middle-income families.

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Hughes disclosed that DUO rent-to-own scheme was currently applicable to Mixta’s fully finished 2 bedroom Marula Park Home. Marula Park is located in Lagos New Town, off Lekki- Epe Expressway; with surrounding estates like Beechwood Park and the prestigious Lakowe Lakes Golf and Country Estate.

“DUO is a homegrown solution for Middle-income earners who have difficulty paying outrightly for a house or experiencing delays in accessing a mortgage,” said, Rolake Akinkugbe-Filani, Chief Commercial Officer, Mixta Africa.

“The thought of being a tenant paying your due rent and subsequently becoming a homeowner within 3 years is the major attraction for interested subscribers as you now have the opportunity of not only living your dream of becoming a homeowner but also enjoying the benefit of living in a serene community and luxury environment that offers all the comfort, convenience and recreation necessary for a healthy life.

“All an interested subscriber needs to do is to visit the company’s website: duo.mixtafrica.com, complete the interest form and receive an application form via email, fill and submit the form and make a minimum 5 percent equity payment to secure the subscription; pay the first year rent and in three years’ time you become a proud homeowner,” she said.

Mixta Africa is one of the most prominent developers in the African real estate sector with project experience in eight countries across Africa.

The company was founded in April 2005 and is a subsidiary of Asset & Resource Management (ARM) company, one of Nigeria’s non-banking financial institutions with over $3.5 billion under management, with its headquarters in Lagos.