Foreshore Waters Limited (FWL) has secured a N2.4 billion loan facility from the Bank of Industry (BOI) to support the company’s growth and expansion plans.
This was confirmed by the company’s Director, Christiana Amida. According to Amida, the facility will be utilised to further boost the company’s operational efficiency and expedite the delivery of some of its ongoing projects.
Speaking on the development, Amida explained that the repayment of the loan facility is structured over a four-year tenor with a six-month moratorium.
“We are very excited to embark on the partnership with the Bank of Industry. The facility would be invested in the acquisition and infusion of cutting-edge innovative solutions that will contribute significantly to the achievement of our growth projections. For us, this is the beginning of a long-term, mutually beneficial journey with BoI in our commitment to contributing our quota to the development of the Nigerian real estate sector and ultimately the economy,” she said.
She declared that Foreshore Waters is the fastest-growing independent luxury real estate company in Nigeria, providing innovative real estate solutions with numerous projects that redefine the concept of upscale contemporary living.
According to her, some of the company’s developments include the prestigious Riverside Apartments, the tallest building on Banana Island Road; Banana Island Paradise, an exclusive but affordable development in Banana Island; and Insignia, a first-class hotel styled residential development at Osborne 2, Ikoyi among others.