RainyDayCoop has announced the termination of its acquisition of the upscale Skyfield Apartments. The decision comes as the cooperative reevaluates its strategy to prioritize affordable housing as a durable asset class, in response to growing demand and economic conditions, especially in Lagos.
In a statement released today, RainyDayCoop’s leadership emphasized its commitment to addressing Nigeria’s housing deficit by shifting focus toward more accessible housing solutions. “While the Skyfield acquisition presented a valuable opportunity, we believe redirecting our resources toward affordable housing aligns better with our mission to help Nigerians build tomorrow today,” said Olufunso Akinsanya, RainyDayCoop’s President.
RainyDayCoop assured stakeholders that further details on its upcoming affordable housing initiatives will be released in the coming weeks, on channels including the ongoing Friday night live sessions on TikTok.
For now, the stop signals a strategic pivot that could reshape Nigeria’s housing landscape by making homeownership more attainable for low- and middle-income families.
