The offering relates to a loan land plots to a housing cooperative society consisting of 26 professional women in Nairobi, aged 45-60, who intend to buy two plots outside Nairobi along the Mombasa road, not far from the international airport.
The women, who in most cases have a family each, have taken the initiative to give the family a safer retirement, which means that each woman / family will own an apartment for their own use, and one apartment where they lend to others to a monthly income. This is worth a lot in a country where there is almost no retirement pension from the government.
The society has already accumulated for most of the purchase price but needs an additional approximately 200,000 SEK, so this is the amount that we / Naventure offers to investors who want to join.
The society owns an apartment they bought a few years ago for about 500,000 SEK but now worth about 900,000 SEK, but the plan to wait with the sales of this appartment. The plan is to start the purchase of the two plots in May and the purchase to be completed in July. Thereafter, detailed drawings will be worked out for the house on each plot. The ambition is that the detailed archectural drawings will be ready in December and that the first house will be ready by August 2020.
The expected repayment period for this loan is 18 months. When the plots are ready for construction, there is a need for a much larger loan from Naventure for multi-family houses, but there is no obligation to participate in the latter loan just because someone applied for the first one.
Details of the loan
Minimum investment amount: 10000 SEK per investor
Total amount of requested loan: 160.000 SEK
Target payback time: 1,5 years
Sign-up time-fram for investment: June 2017
Target annual interest rate: 6% (8% from Dorato and thereof is 25% is kept by Naventure Nordic 20% as administration fee)
Reasons for applying for a loan: Acquisition of two plots of land where the next would be to build multi-family houses