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By Steve Agbota
A Nigerian proptech startup, Abode Assets Limited, also known as myabode.app, hosted an open house in Lagos, marking the beginning of a unique venture for investors who latched onto its fractional ownership offer on an asset in the city.
Investors, who collectively invested at least N100,000 each, were delighted to take delivery of a furnished two-bedroom short-let in a prestigious Lagos apartment, transforming them into co-landlords of the property.
The occasion also unveiled the promise of a remarkable 11.75 per cent annual rental income, to be paid out quarterly to those who invested in acquiring the property.
The open house, held at the elegant apartment in the Akowonjo area of Lagos, was attended by a diverse group of investors, financial experts, and real estate enthusiasts eager to witness the unfolding of a transformative wealth creation initiative.
Founders of Abode Assets Limited, a pioneering company in the proptech investment space, said they have set out to redefine how individuals can participate in the lucrative world of real estate, saying that by enabling fractional ownership, the company empowers investors with a smaller capital outlay to benefit from high-yield properties that were once beyond their financial reach.
“We believe that wealth creation should not be limited to a privileged few. Our mission is to democratize property investment, making it accessible to anyone with a dream of financial prosperity. Today, as we show this fully-furnished short-let apartment to our investors, we’re not just delivering a promise; we’re delivering possibilities,” said Mr. Jeffery Itepu, co-founder and CEO of Abode Asset Limited, addressing the gathered investors.
Meanwhile, the other co-founder and COO of the firm, Mr. Damilare Oshokoya added: “We are proud of our investors. They will all benefit from the short-let’s profit, earning 11.75 per cent annual rental income. Our promises underscore our commitment to delivering substantial returns to investors. The quarterly payment will definitely provide financial stability and growth opportunities for the co-landlords.”
Meanwhile, the two-bedroom flat, which boasts modern amenities and exquisite interior design, was met with overwhelming appreciation from the investors who toured the property.
Many expressed their excitement at the prospect of benefiting from a share of the rental income, which will be distributed quarterly, providing a regular source of passive income.
Ms. Damilola Samuel, one of the investors and now co-landlord, shared her enthusiasm.
“I’ve always dreamed of investing in real estate, but the high cost has been a barrier. When I came across Abode, the company changed that for me and I invested. Today, I am happy to see what we have here. I can’t wait to see the returns on my investment,” she said.
Mr. Emmanuel Sunday also said: “It feels so good to know that I am among the owners of this apartment. From what I have seen, the monies invested were used wisely, and I am proud to be doing this with Abode.”
The open house concluded with a mild feast, where the investors and the Abode team ate and drank in a toast to an investment well done.
The firm went on to announce its plans to expand its fractional ownership model to other high-yield properties across Nigeria and the African continent, providing even more opportunities for individuals to participate.
