October 1, 2020
Clickongh

Cofundie starts crowdfunding investment in new homes at Appolonia City

Cofundie has launched its first ever real estate crowdfunding campaign, offering anyone in the world the opportunity to invest in new homes at Appolonia City, the popular new city development in Accra, Ghana.

In a press release, Cofundie stated that for as little as USD 250 (GHS 1,500), investors can own shares in the homes, which are expected to be completed by the end of 2021 and sold to buyers, giving Cofundie investors a return on their investment.

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“Our partnership with Appolonia City will give both investors and buyers access to more housing options,” said Chukwuemeka Ndukwe, Co-founder and CEO at Cofundie.

“This opportunity also allows anyone with access to the internet to become a property investor in a high-quality real estate development like Appolonia City,” the statement noted.

Cofundie, which is backed by the pan-African entrepreneurial training program MEST, and the global media intelligence company Meltwater, offers homes measuring up to 76 sqm and designed to meet the tastes and aspirations of upwardly mobile young families.

“MEST incubated Cofundie and invested in it, because Cofundie makes real estate investment accessible, which in turn leads to more housing options for Africans,” said Jørn Lyseggen, founder and CEO of Meltwater, who created MEST to support African entrepreneurs. “As an investor in Cofundie, we are excited to see how the company uses crowdfunding to transform the real estate market in Ghana and West Africa.”

Appolonia City CEO, Bright Owusu-Amofah, said, “Our mission is to provide housing that is accessible to all on a large scale. By partnering with Cofundie, Appolonia City is able to offer real estate financing through an alternative, but a well-tested model that has proven to work in other markets.”

With more than 500 homes completed or under construction, Appolonia City continues to attract new developments and serves as a benchmark for new urban development in Africa.

About Cofundie

Cofundie is a real estate platform for crowdsourcing funds for the development of buildings using alternative materials and techniques. Cofundie’s mission is to create an alternative source of financing for the development of affordable housing in West Africa as a way to solve the housing crisis.

About Appolonia City

Appolonia City is a 2,325-acre (941-hectare) inclusive mixed-use new city in Greater Accra. A seamless live-play-work community, Appolonia City offers homes, offices, shopping, schools, healthcare and ample parks and open spaces. High-quality tarred roads, power, ICT, water and storm drains are already available at Appolonia City.

Appolonia Industrial Park is a 200-acre, modern warehousing, logistics and a light industrial zone with world-class urban management services.

Appolonia City is a development by Rendeavour, in partnership with the Chiefs, elders, and residents of the Appolonia community. Rendeavour is Africa’s largest private city developer, with projects in Ghana, Kenya, Nigeria, Zambia, and the Democratic Republic of Congo.

Source: Business