Housing Programme

…providing affordable Housing for AkwaIbomite

… helping our esteemed members to own their personal houses at affordable rate.

The popular saying,Opportunity comes but once” is a truism and shall remain so. This proposal is to ensure that members of SunRise Coop, do not miss the opportunity to own out from the Mortgage Loan Provision for Personal House Ownership as contained in National Housing Fund Act of 1992.

SunRise Coop House OwnershipProgramme is a unique Housing arrangement, packaged bySunRise Multipurpose Cooperative Society Limited in collaboration with

Federal Mortgage Bank of Nigeria (FMBN)to help members of the Cooperative to secure their own Personal Houses at affordable rate. The Housing Programme provides members with theopportunity to build/buy their own houses using mortgage credit facility provided by Federal Mortgage Bank of Nigeria under the National Housing Scheme (NHS). Members can access up to N5million Naira at the interest rate of only 6% and repayment period of up to 25 years.

OBJECTIVES OF SUNRISE COOP HOUSE OWNERSHIP PROGRAMME

1       To be a significant player in Housing Industry, providing decent/ affordable houses for our esteemed Members

2    To enlighten our members on the opportunities available in Real Estate.

3    To provide solution to Housing problems in AkwaIbom State.

4    To avail our members and AkwaIbom peoplethe opportunity of taking part in and benefiting from the National Housing Scheme.

5    To help members to convert their rental payments into housing loan repayment while living in their own personal houses.

6       Working with members to secure tittle to their properties

7    To provide lifelong Investment Window in House Ownership for our members.

8    To provide a place/home for Retirement for our members

9    To provide alternative source or stream of income for members.

10  To provide Capital Appreciation over time for members

11     To create jobs/employment opportunities in the housing Industry in AkwaIbom State.

12  To create SMEs Development windows and opportunities for the Private Sector Operators in the State.

13  To ginger the Development of Mortgage and Housing Sectors in the State economy.

14  To partner individuals, Investors, Financiers, Professionals, State and Local Government Areas in Development of Housing Ownership Programme for the Workers.

15  To provide window for SMEs, Artisans, etc to own their own houses.

PARTNERS/FACILITATORS

  • Federal Mortgage Bank of Nigeria (FMBN)

  • AkwaIbom Property and Investment Company Ltd. (APICO)

  • Mutual Alliance

  • Police Micro Finance Bank

  • Police Mortgage Bank

  • OBOTEX: Building Material Suppliers

  • Local Government Areas in AkwaIbom State.

  • Land Owners/Investors

  • Members of National and State Assemblies members

HIGHLIGHT OF SUNRISE ESTATE

The proposed Estate shall be located in the three Senatorial District of AkwaIbom StateState. SunRise Coop shall acquire land in major Local Government Areas in the three Senatorial Districts of the State anddevelop it to an Estate. The first phrase of the programme will commence in Uyo Local Government Area. Each Estate will have Housing Units of Standard Semi Detached Bungalow or based on member affordability. Local Government Areas of consideration shall be as follows:

Uyo, Uruan, Ibesikpo,NsitIbom, Etinanand Itu LGAs.

Ikot Ekpene, Abak and IkonoLGAs

Eket, Onna,Oron, Ikot Abasi and Mkpat Enin LGAs

For Participation in the SunRise CoopPersonal HouseProgramme

QUALIFICATION

1    You must register with SunRise Multipurpose Cooperative Society and have your membership card. Registration Fee is N5, 000

2    You must register as a contributor to the National Housing Scheme through SunRise Coop

3    You must pay your monthly subscription of N450 to the Federal Mortgage Bank of Nigeria (FMBN) through SunRiseCoop for at least 6 months before applying for the facility.

CONSTRUCTION OF THE ESTATE

Construction by SunRise Coop:-

SunRise Coop shall engage the services of Professional Builders/Architects to construct standard bungalow in the Estate. On completion of the Construction work, the Houses will be handed over to the qualified applicant/owner who must have applied for National Housing Scheme (NHS) through SuRise Coop.

Construction by Individual House Owner:-

Under House Owner Construction, an individual member of SunRise Coop can acquired a plot of land at theSunRise Estate for just N1.5 million. SunRise Coop will then issue the buyer with title document for the land. On receiving the title document, the buyer can develop/build on the land allotted to him/her.

SunRise Coop Housing Programme also open opportunities for investors/partners. To take advantage of this unique opportunity, you can serve as

Investor

As an Investor, you can invest in SunRise Coop Estate and receive high return on Investment (ROI).  Investment packages are as follows:

  1. a) Senior Investor –  N500, 000-Benefit:         8% ROI per annum
  2. b) Bronze Investor- N1, 000,000 – Benefit:    10% ROI per annum.
  3. b) Silver Investor – N2, 000, 000     – Benefit:  12% ROI per annum
  4. c) Gold Investor   –   N3,000,000  – Benefit:     13% ROI per annum
  5. d) Diamond Investor-N5,000,000  – Benefit     15% ROI per annum.
  6. e) Other Cooperatives/Groups, Associations, etc.

Partner

As a Partner, you only need to register with SunRise Coop as a member. After registration, you can earnnegotiable ROI based on amount of Investment and /or roles in the Cooperative.

DAYS OF ACTIVITIES: Monthly General Meeting - Last Saturday of every month – Time: 2:00pm | Weekly Savings Plan - Every Monday | Monthly Savings Plan - First Mondays of every month. | Annual General Meeting - First Saturday of Every December - Time: 12:00 noon. Note: Saving and Investment Funds may be transferred to SunRise Coop
DAYS OF ACTIVITIES: Monthly General Meeting - Last Saturday of every month – Time: 2:00pm | Weekly Savings Plan - Every Monday | Monthly Savings Plan - First Mondays of every month. | Annual General Meeting - First Saturday of Every December - Time: 12:00 noon. Note: Saving and Investment Funds may be transferred to SunRise Coop