Finance

BoI grants N2.4bn facility to foreshore waters limited

Bank of Industry concludes new C1bn landmark transaction

 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.

Christiana Amida, the company’s Director, who made the disclosure to newsmen, said the facility will be utilised to further boost the company’s operational efficiency and expedite the delivery of some of its ongoing projects.

Amida also explained that the repayment of the loan facility is structured over a four-year tenor with a 6-month moratorium.

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She said: “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” .

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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.

She described the company as the savvy investor’s choice that provides the perfect blend of luxury, elegance, and style with state-of-the-art architectural designs, remarkable estate features, scenic surroundings, and an unbeatable return on investment.

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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.

Independent

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