Nigerian founder Muibi Kehinde Hammed leads MKH Properties to record N10 billion market win

MKH Properties Ltd., a Lagos-based property developer founded and led by Nigerian entrepreneur Muibi Kehinde Hammed, has completed Series 1 of its commercial paper program after investor subscriptions exceeded the N10 billion ($7.5 million) target. The transaction marks the company’s first completed issue since launching its N30 billion program in September.

The 364-day series carried a 25.0001 percent yield and a 20.0110 percent discount rate, with a minimum subscription of N5 million ($3,760). Pathway Advisors Ltd. acted as financial adviser and lead arranger. The oversubscription signals demand above the amount MKH Properties sought, giving the developer an early test of investor appetite.

For MKH Properties, the transaction is also a step beyond traditional project financing. The commercial paper program gives the company a structured route to short-term capital as it expands its development pipeline. The successful debut places greater attention on how management converts the funding opportunity into projects, operations, and future growth.

Hammed highlights investor confidence

“Completing our first Commercial Paper Series and receiving subscriptions above the N10 billion target is no small achievement for MKH Properties,” Hammed, the company’s chief executive officer, said. He said accessing the capital market carries significant responsibility, particularly for a real estate company, and described the subscriptions as evidence of investor confidence in its vision.

The company intends to use the capital to support expansion and increase its capacity to execute projects across its portfolio. Its developments span Lagos and Ibadan and include MKH City, Chelmsford City, Dariann Court, The Legacy, The Wealthy Place and MKH Shopping Mall. The funding therefore links the capital raise directly to future development activity.

The successful issue also raises the stakes for execution. Hammed said MKH Properties recognizes the trust placed in it by existing customers and Series 1 investors, adding that the company’s objective is to expand, strengthen operations, and deliver more projects. He said the business wants that confidence reflected in completed developments and lasting value.

From investment to property

MKH Properties traces its origins to 2018, when it operated as Mustard Fortune Global Investment Ltd. The business under the leadership of Muibi Kehinde Hammed later rebranded as MKH Investment Ltd. in 2021 before adopting MKH Properties Ltd. The changes accompanied a broader focus on real estate development, sales, and consultancy as the company expanded its operations.

The company boasts more than 100 dedicated professionals, a network of more than 30,000 direct and indirect realtors, and more than 30 strategic partners. Its operations cover Lagos and Ibadan, while its portfolio includes 12 premium estates where it says more than 1,000 plots have been allocated. It also lists residential and commercial developments.

MKH Properties says its managed portfolio exceeds $50 million, reflecting the scale it has reached since its early investment-focused years. The company has positioned its estate development business around property ownership and expansion across its core markets, while building a wider network of realtors and strategic partners to support sales and distribution.

Capital raise shifts to execution

With Series 1 completed above target, attention now shifts to deployment of the proceeds and the next stages of the N30 billion program. MKH Properties has previously said the broader program is intended to expand the business, while management has indicated that future capital raises could be larger as its financing needs grow alongside its development pipeline.

The Series 1 result gives MKH Properties a completed transaction in Nigeria’s commercial paper market and a reference point for future funding efforts. The next measure will be execution: how efficiently the company deploys the capital, advances developments, and delivers for customers, investors and other stakeholders who are relying on the business to turn financing into tangible projects.