ARM Investment Managers, the Fund Manager for the MOFI Real Estate Investment Fund (MREIF), is pleased to announce the successful completion of a ₦250 billion capital raise, marking a major milestone in Nigeria’s affordable housing and mortgage financing landscape.

The pilot phase of MREIF was structured in two tranches: ₦150 billion in seed investment from the Federal Government of Nigeria through the Ministry of Finance Incorporated (MOFI) and a ₦100 billion Series 2 issuance, fully subscribed by private sector investors. This overwhelming response underscores the strong market confidence in MREIF’s structure and long-term potential to bridge Nigeria’s housing finance gap.

With top-tier credit ratings—Aaa from Agusto & Co and AA from GCR—MREIF has established itself as a secure, high-impact investment vehicle attracting commercial banks, pension funds, insurance companies, investment banks, and institutional asset managers seeking to participate in Nigeria’s housing transformation.

“The successful close of this pilot phase marks the beginning of a long-overdue transformation of Nigeria’s housing sector,” said Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy. “The full subscription of Series 2 offer, demonstrates the pent-up demand for a structured, long-term housing finance solution, and affirms the private sector’s confidence in MREIF as a sustainable investment vehicle.”

As the Fund Manager, ARM Investment Managers is committed to ensuring transparency, efficient fund deployment, and optimal investor returns while working closely with the Federal Government and key stakeholders to scale the initiative in subsequent rounds.

MREIF is designed to tackle both housing affordability and supply issues by offering:

• Long-term mortgage financing with interest rates set at 12% and repayment periods of up to 20 years, making homeownership more accessible to more Nigerians.
• Offtake guarantees for developers to facilitate large-scale housing projects and unlock construction financing from financial institutions.
• A structured public-private partnership that ensures long-term sustainability, balancing government support with private sector efficiency.

“MREIF is unlocking new investment opportunities in Nigeria’s real estate sector,” said Wale Odutola, Deputy CEO of ARM Holding Co. “This milestone reinforces investor confidence in the Fund, and we are excited to further expand its impact in the coming months. Our goal is not only to provide sustainable mortgage solutions but also to drive economic growth through increased housing development.”

With MREIF’s ₦1 trillion multi-tranche structure now underway, the next phases will focus on:

• Expanding mortgage accessibility by partnering with commercial and mortgage banks.
• Accelerating housing development by offtake guarantees as a credit enhancement to developers for raising construction finance for large-scale residential projects.
• Broadening private sector participation by inviting new investors into future fund issuances.
• Forming strategic partnerships with the relevant housing stakeholders.

With ₦250 billion already raised, thousands of affordable housing units are set to be delivered across key Nigerian cities, providing homeownership opportunities to more Nigerians.

For prospective homebuyers: Visit mreif.com.ng to begin your journey toward affordable homeownership.
For developers: Visit mreif.com.ng to list your properties or explore offtake guarantee options.