Magnificent Multiservices Ltd raises ₦5Billion in Commercial papers

Magnificent Multiservices Limited, a Nigerian full-service real estate business, has registered N20bn series 1 Commercial Paper Programme on the FMDQ Securities Exchange platform with N5bn accessed already for their proposed City and Estate developments through RAEDIAL HOMES.

The quotation of the Commercial Paper was sponsored by Keystone Bank Limited and Issued through Qualinvest Capital Limited. The paper strategically positions Magnificent Multiservices Limited to raise short-term finance easily and quickly from the Nigerian debt markets. The company will also benefit from FMDQ Exchange’s diversified market stakeholders, its highly responsive and efficient listing and quotation processes, and credible benchmark pricing required for appropriate portfolio valuation, amongst others.

To commemorate the successful debut on FMDQ Exchange, a director in Magnificent Multiservices Limited, Claris Agenmonmen stated:

“We are extremely pleased, as this will be another step for us to expand and find solutions to some of the real estate problems Nigerians face daily. The success of this issue and subsequent listings are significant indicators of increasing investor confidence in our company’s reputation, brand, and performance. Magnificent Multiservices Limited started as a Real Estate Firm doing great work in real estate investment over the years with investment spread across Edo, Rivers, Lagos and Abuja. With the 20bn commercial paper, we intend to go into full development of Smart Cities and Smart Homes through Raedial Homes which is our development subsidiary.”

Magnificent Multiservices Limited is a full-service real estate business that offers integrated expertise across all property sectors, including office, retail, hotel, industrial, logistics, prime domestic, international, and residential. The company aims to provide its clients with seamless access to definitive commercial and residential property advice, drive meaningful value, and ensure a cohesive approach, as they seek to effectively manage their global property interests.
With a vision to be “the leading real estate service provider in the region and the preferred place of employment for real estate professionals.”, Magnificent Multiservices Limited consistently strives to develop collaborative partnerships based on transparency and mutual trust, which serve to build enduring client relationships.

Speaking on the projects Magnificent Multiservices Limited will handle with the allotted sum, the Chief Executive Officer of the company, Uwadiale Agenmonmen,  stated:

Magnificent Multiservices Limited provides clients with a competitive and expansive platform of offerings in leasing, sales, investment sales, tenant and landlord advisory services, corporate and business consulting, and development. Clients also have the benefit of working with professionals in general construction, property and asset management, multifamily management, debt and equity capital placement, and data analytics. Our milestone debut market entry will emphasize the necessary collaboration between private entities and debt capital markets, as it enables us to pursue our multi-pronged growth strategy of optimizing our operations and assets, expanding our footprint, and revolutionizing the real estate sector. The commercial paper will be used to support our enterprise on many fronts, but largely in solving the building collapsing issues that seem to be currently plaguing Nigeria. Experience has taught us that each time a building collapses in Nigeria, built environment professionals in other parts of the world tend to doubt the competence of professionals in the Nigerian Building Industry. Building collapse is a global phenomenon, but the frequency at which buildings collapse in Nigeria has attracted a worldwide concern on the need to assist this country to improve on its safety performance. We are ready to take on the challenge.”

Nigeria’s real estate industry is one of the fastest growing sectors presently despite the harsh economic situation in the country. The industry has recorded steady growth for the past few years, but this growth is being blighted by the challenge of building collapses. Nigeria is not the only country where buildings collapse, but the frequency and circumstance of each collapse continue to emphasize the obvious hole in regulatory issues and implementation of the legal framework as experts continue to throw up certain factors such as incompetence and corruption, flouting of building codes, use of fake and substandard building materials and negligence as reasons behind regular building collapses in Nigeria.

Magnificent Multiservices Limited is a company determined to look to the future of real estate while bringing Nigeria along, one city at a time, hence why the company chose to go through the development part of real estate. The company’s goal to reduce its carbon footprint and create long-lasting homes involves:

1. Developments going green: Eco-towers and other developments will increasingly use natural tools to improve environments, reduce overheating or enhance cooling, and offer a better place to live.
2. Houses getting increasingly digital: The ideal house is one where devices are linked through the internet of things (IoT), allowing people to remotely operate everything from air conditioning to the lights.
3. Smart cities: When homes go digital, cities will follow. Entire cities will evolve with the power of digital connectivity.
4. Solar power: Use of solar power is a great way to reduce your carbon footprint and meet global climate change commitments. (Through the use of natural resources such as wind and light, sustainable homes can significantly lower their carbon footprint and how much heat and power a homeowner consumes).

As Magnificent Multiservices Limited expands, we are committed to these principles, which have served their company and clients through the years. And whatever happens to housing itself, you can rely on the fact that Magnificent Multiservices Limited will continue to be your leading resource for exploring and discovering your future property opportunities.