27 Dec Foreshore Waters Limited gets N2.4bn BoI funding for expansion
Foreshore Waters Limited says it has secured a N2.4bn loan facility from the Bank of Industry to support the company’s growth and expansion plans.
A statement quoted the company’s Director, Christiana Amida, as saying that the facility, structured over a four-year tenor with a six-month moratorium, will be utilised to further boost the company’s operational efficiency and expedite the delivery of some of its ongoing projects.
“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,” she said.
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.
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