MREIF Half-Year earnings reflect continued growth in affordable mortgage lending

Nigeria's housing deficit presents an opportunity for the real estate sector, as millions of Nigerians seek affordable property ownership. The MOFI Real Estate Investment Fund (MREIF), managed by ARM Investment Managers, aims to address financing challenges and provide an attractive investment vehicle for Nigerians. Operating since 2024, the fund has generated a total income of N17.48 billion from mortgage lending and interest income on cash holdings for the first half of 2026.

Operating costs were accounted for, resulting in a profit before tax of N14.49 billion and a profit after tax of N14.24 billion. With a total asset value of N269.9 billion, the fund has disbursed N131.67 billion as mortgage loans, financing 1,909 housing units across Nigeria's six geopolitical zones and 27 states. MREIF's mortgage beneficiaries are primarily salaried employees (87.2%) and self-employed individuals (12.8%), reflecting its low-interest rate structure.

Additionally, the fund has extended offtake guarantees to three developer projects, supporting 475 housing units under construction. MREIF rewards investor capital through an intermediate dividend, with commercial investors receiving a yield of 17.37%, and government-held units a yield of 5.65%. This blended finance model enables MREIF to fund affordable mortgages for ordinary Nigerians while attracting market-rate returns for commercial investors.

The fund's consistent performance in its first half of operations indicates a steady trajectory for a long-term housing solution in Nigeria.