As expectations for the Nigerian real estate sector to produce high growth in the medium term, driven by the recovering economy, and other high growth sectors of commerce, construction, telecommunications, and a recovery in the financial services sector grew, it led to an increase in the demand for real estate product in all sectors.
To address Nigeria’s vastly underserved commercial property market demands, where, there is a dearth of quality stock of real estate, Persianas’ aim is to pursue their vision to develop and list the Group as Nigeria’s first investment grade real estate portfolio was further solidified after a partnership with IFC and ALAC.
In 2012, IFC (International Finance Corporation) and IFC African, Latin American and Caribbean Fund, LP (ALAC) invested up to US$74 million in equity and IFC provided an additional financing of US$50million to support Persianas ambitious growth strategy.
Persianas Limited, was incorporated on the 11th of May 2004, and is licensed under the Company Act 2001, of Mauritius.