Nigeria’s Real Estate Market Gets a Boost with GDL’s HouseMoni Launch

In a groundbreaking move, Growth and Development Limited (GDL) has launched HouseMoni, a pioneering rent-to-own homeownership scheme designed to transform the Nigerian real estate market. This innovative initiative aims to address the long-standing challenge of homeownership financing in Nigeria, providing a financially sustainable path to owning a home for millions of people.

HouseMoni’s key features include a fixed single-digit interest rate of 9.9%, a home finance option that triples the contribution of account holders, and a flexible repayment plan that spans 15 years. The scheme is specifically designed for Nigerians aged 25 and above with a steady income, offering two variants: HouseMoni Classic for individual homebuyers and HouseMoni Community for group estate development.

According to GDL’s Executive Vice Chairman, Mr. Kola Ayeye, “HouseMoni represents our commitment to creating a financial system that works for everyone. Our goal is to empower 1.5 million people to become new homeowners within 10 years, building stronger communities and a more vibrant economy.”

By providing access to sustainable homeownership financing, GDL’s HouseMoni is poised to broaden the middle class and achieve shared prosperity in Nigeria. This launch marks a significant milestone in GDL’s mission to evolve financial products that expand and strengthen the middle class, demonstrating the company’s dedication to deploying capital for shared prosperity.