Geschäftsbereich 1
Real Estate / Immobilien
HMK’s investment activities in real estate are creating value as the occupancy is continuously increasing as a lasting asset in the Company’s balance sheet. And even more important, the new housing units create a value for the population helping them to have a better live.
Lagos State, Nigeria, has an acute housing problem with an average household occupancy of about 10 persons. In addition, it has an average population density of 2,455 persons per square kilometre, much higher than the national average, with some areas reaching 15,000 persons per square kilometre.
“There is a housing demand of 40,000 units annually. Construction of low and middle income housing estates together with the State, who is providing land as equity and provision of mortgages”, as a way out of this undersupply.
(Source: Business roundtable presentation from 04th of June 2010; given by the African Business Association, represented by his Excellence Mr Babatunde R. Fashola, Governor of Lagos State, Nigeria)
The African State Government is engaged with setting up private public partnerships (PPPs) to solve this demanding situation in the housing market - especially helpful for the poor part of the population. The Government is providing equity in selected sustainable projects, giving tax benefits and is provisioning land to housing developers particularly for development of low cost housing.
Furthermore mortgages for the low-income population and Government guarantees are possible.
“A home is typical family´s most desired and prized asset. According primacy to this predisposition, Section 16(1)(d) of the 1999 Constitution of the Federal Republic of Nigeria under the Fundamental Objectives and Directive Principales of the State Policy, expects the State to “provide sustainable and adequate shelter for all citizens”.
(Source: Extract of an article from Nasir Elrufai: “Housing for All under Vision 20: 2020?”)
read the full article here
In this respect the Groups contribution in the real estate development in Nigeria and Africa in general has also an ethic component. In 2009, Edward Akinlade, the head of the Group and driver for the national and international business development was honoured for his personnel outstanding impact in contribution and achievements in Nigeria:
Housing Outlook
A rebound of the housing market in Africa is guaranteed as the economy begins to pick up. A power master plan has been developed and is in the realization phase to solve power supply deficits.
A tangible increasing awareness for real estate, as an attractive investment asset class can be stated, hence the inflow of capital into the sector. The consequence is increased capital injection by property developers to tap into opportunities presented by the large unmet demand for housing. Parallel real estate and construction lending banks and other debt providers offer more mortgages and construction products following a period of lull after the banking sanitization.
The population and trade in the West African sub-region have still strong growth tendency. It is important for the population and economy that the undersupply in infrastructure is going to be solved. In this respect the extension of power supply and the rollout plans of GSM operators result in complementary infrastructure development in the near future. A momentum, HMK is making use of, being in a good position with its real estate occupancy and general impact on the market demand.
HMK’s investments are covering different types of real estate projects in order to provide the appreciated level of standard and pricing for business travellers, corporate customer arrangements and demands, business men and traders, as well as budget-conscious individual visitors. Suru Homes Ltd., the execution part of the Group for the real estate sector, plans to develop luxury residential properties and also low cost housing chain locations in Nigeria as well as chains of function halls through Nigeria. The Group has expanded its scope of operations by launching service apartments for let in United Kingdom, where HMK is the owner of 94 self-service apartments in the city of London. This apartment type caters for the growing demand of short let accommodation of international visitors staying in London.
http://surugroup.com/suruhomes.html
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