Mark Chieshe
Greenage has developed an innovative green student housing value proposition for tackling the student accommodation problem in Nigerian universities. By placing EDGE at the core of its business, Greenage is unlocking private sector investment to re-define the future of student housing accommodation in the country and creating business value for shareholders.
Decent, comfortable, and quality student hostel accommodations enhance university learning and ensure good health while aiding students’ hygienic habits.
In Nigeria, the student hostel accommodation sector is huge, both in terms of the magnitude of the gap in availability and the potential for private sector investment. There are currently more than 170 universities in the country and the tally is increasing. This includes 43 federal universities, 48 state universities, and 79 private universities.
Hamid Ayodeji
Greenage Development Managers, a private equity-driven fund and provider of on-campus student and faculty housing projects, has announced a long-term commitment to the IFC’s EDGE (Excellence in Design for Greater Efficiencies), an international green building certification system.
Greenage Development Managers are also leveraging the institutional mechanism provided by the Infrastructure Bank Plc in Nigeria to ensure sustainability of the Green Student Housing Projects.
The aim is to transform the student housing sector by delivering purpose-built, resource-efficient student housing in higher institutions across Nigeria with Greenage’s $150 million sustainable housing fund.
The fund is committed to develop 100,000 bedspaces across Nigeria over 10 years, with an initial ticket size of $50 million for its first phase of delivery.
Greenage Development Managers, a private equity-driven fund and provider of on-campus student and faculty housing projects, has announced a long-term commitment to the International Finance Corporation’s (IFC) EDGE (Excellence in Design for Greater Efficiencies), an international green building certification system.
The aim of the initiative is to transform the student housing sector by delivering purpose-built, resource-efficient student housing in higher institutions across Nigeria.
According to a statement, the Greenage student housing programme is a private sector-led initiative that consists of a 10-year plan to provide modern, secure, affordable and green accommodations to complement the campus architecture across Nigeria.
It explained that by partnering multilateral agencies as well as private equity partners, Greenage could provide long-term, environmentally-friendly solution, “as an answer to the severely deteriorated state of student housing infrastructure in Nigeria