BRAINS AND HAMMERS RAISE N8bn SUKUK FUNDING FROM PRIVATE CAPITAL MARKET
Brains and Hammers Limited, the foremost infrastructure, hospitality, commercial and residential real estate company in Nigeria, recently announced an eight billion (N8bn) naira investment from the private capital market.
The N8bn SUKUK funding was made possible by a consortium of lenders in the private sector. Backed by ARM and Fidelity Bank, this investment is reflective of the investors’ vote of confidence in Brains and Hammers’ vision of providing affordable houses for Nigerians.
This funding firmly puts the company on course to deliver on its aggressive growth plan in affordable housing across the country. With the mega four thousand, five hundred (4,500) units Bungalow City in Abuja, Nigeria, moving ahead at full steam, the SUKUK investment represents a laudable landmark for Brains and Hammers and serves as a springboard for the delivery of wallet-friendly houses for Nigerians across the country.
Mr. Adebola Sheidu, Chairman, Brains and Hammers, expressed his delight at the SUKUK investment, noting that it represents a vote of confidence in the company.
“With phase 1 of the Bungalow City project nearing completion in less than one year after construction started, the 1, 2, and 3-bedroom housing units are proof that we are not just at the forefront of providing affordable housing development in Nigeria, we are building infrastructures as well. The on-going construction of a 3.8km access road and over 3km internal road network within phase 1 of the project is a pointer to that fact.”
“This infrastructural development is supported with recreational facilities including schools, Banks, a business hub, and a shopping mall, accentuating Brains & Hammers’ commitment to creating a healthy Live, Work & Play environment around their mega projects across the country.”
Mr. Sheidu added that the project is also well-positioned to create over one thousand (1000) direct, indirect, and ancillary jobs during construction and upon its completion, thereby creating a large-scale economic impact beyond the provision of affordable housing & infrastructure.
Brains and Hammers’ bold move in this instance has been enhanced by the confidence reposed in the company by the consortium of investors who are also committed to reducing the housing deficit in Nigeria.
Backed by over 14-years of insight and expertise, the company has become a partner of choice for affordable, premium, and luxury houses for the public & private sectors and Nigerians at home and in the diaspora. Brains and Hammers’ hospitality, residential, commercial, and infrastructural portfolio covers thousands of acres of land in urban, suburban, and satellite communities in Abuja, Kano, and Lagos in Nigeria.
For more information, contact;
Head, Strategic Communication
Brains and Hammers