FAVIC and FasterCapital Equitypilot Partner to Tokenize 100-Unit Abuja Housing Project
Abuja, Nigeria & Dubai, UAE - Oct 24, 2025
FAVIC Construction Limited and FasterCapital today announced a strategic partnership through FasterCapital’s Equitypilot program to accelerate a 100-unit, blockchain-integrated housing project in Abuja. The collaboration targets Nigeria’s urgent housing gap by combining FAVIC’s product design and pre-sales traction with FasterCapital’s global acceleration, tokenization and capital-raising support.
Market opportunity & problem statement
Abuja and the FCT face a structural housing shortfall over 300,000 units, with only ~20,000 delivered annually versus 50,000 needed. Middle-class ownership demand is strong (82% prefer ownership) while diaspora investment remains a major liquidity source. Market friction opaque titles, slow transactions, limited fractional options keeps many buyers sidelined. The FAVIC project addresses this white space by targeting affordable/mid-income segments and unlocking diaspora capital through digital ownership models.
Startup solution & differentiation
FAVIC’s 100-unit Abuja development integrates blockchain-based title management and fractional ownership to reduce transaction friction and attract diaspora capital. Features include Propy smart-contract enabled sales (20% faster close rate in pilot), fractional shares permitting liquidity for overseas investors, and green-building design to leverage FCT tax incentives. Early validation includes a corporate MOU for five units and a waitlist of 50+ Abuja professionals. FAVIC positions itself as a first-mover in combining on-chain conveyancing, fractional investment, and targeted affordability for Nigeria’s expanding middle class.
FasterCapital partnership value
Under the Equitypilot program, FasterCapital will provide seed funding, tokenization engineering, legal and regulatory advisory, and go-to-market support including investor introductions and PR amplification. FasterCapital’s selective process prioritizes high-growth, technically defensible startups with market traction; FAVIC met those benchmarks. The collaboration aims to complete tokenization, convert the current waitlist to pre-sales, and close a seed extension round within 6–9 months.
Executive quotes
“Hesham Zreik: “FAVIC exemplifies the kind of market-driven innovation we accelerate pragmatic product-market fit married to blockchain utility. We see clear demand signals in Abuja and a replicable model for diaspora capital mobilization. Equitypilot will fast-track FAVIC’s tokenization, compliance and scale,” said Hesham Zreik, Founder & CEO, FasterCapital.
“FAVIC is on a mission to make homeownership accessible and investable,” Eloho Obatomi said the CEO of FAVIC. “Partnering with FasterCapital gives us the technical, regulatory and investor-network lift to deliver homes faster, make titles transparent and open ownership to Nigerians worldwide.”
Growth trajectory & future plans
Near-term priorities include completing tokenization and smart-contract integration, converting the corporate MOU and waitlist into signed pre-sales, and starting construction Q1 2026. FAVIC plans a national expansion roll-out to Lagos and secondary cities within 18–24 months and expects a Seed-to-Series A funding sequence aligned with project milestones. Long-term, FAVIC aims to scale to 1,000+ units across Nigeria using the same fractionalized, blockchain-enabled model.
About FAVIC
FAVIC develops blockchain-integrated residential projects in Nigeria to bridge the affordability and liquidity gap for middle-income buyers and diaspora investors. Founded to modernize real estate transactions, FAVIC combines local development expertise with on-chain ownership solutions to accelerate access to quality housing.
About FasterCapital
FasterCapital is a global venture builder and online incubator dedicated to co-funding and co-founding innovative startups. Established in 2014, we are now #1 venture builder in terms of number of startups that we have helped, money invested and money raised. It supports startups worldwide through various programs, including funding assistance, business development, and technical support. The Equitypilot program is designed to help early-stage startups build scalable solutions with mentorship, strategic guidance, and network support.