By Kingsley Adegboye
Lagos-based real estate and investment company, Messrs Propertygate Development and Investment Plc, has commenced the construction of three housing projects simultaneously in three clusters within a private gated estate along the Lekki Peninsula corridor in Lagos. The projects are part of the company’s efforts to bridge the increasing housing shortfall in the country as well as expand housing market for enhanced contribution to Nigeria’s Gross Domestic Product.
The cluster projects with market value of over N500 million on completion, are uniquely named based on the individuality of each different design with each housing unit enjoying exclusive space area.
The housing types which are fully detached duplexes built to deliver elegance, comfort and style, are said to be about 65 per cent subscribed. The projects would be completed between June and September this year.
Managing Director and Chief Executive Officer, Propertygate Development and Investment Plc, Mr. Adetokunbo Ajayi stated that despite the harsh operating environment in Nigeria, the company’s products and services will always be guided by the principle of innovativeness and value-driven for its diverse clients.
According to Ajayi the harsh economic situation of the country arising from oil price fall to the high exchange rate should not discourage serious minded real estate developers from continuing in the business. Such challenges, he said, should rather make them put on their thinking cap by coming up with ideas to make their business thrive.
“As a real estate development firm, whatever challenges we face, it is to enable us to come up with ideas to make our business thrive. The design and execution of the company’s products would continue to place premium on customer satisfaction. Investment in real estate is one of the potent means by which the Federal government could diversify Nigerian economy in the wake of shocks that have characterized the global oil market’’, he said.
Explaining the unique features of the projects, the Propertygate boss explained that one of the clusters, christened Catembe Court, was designed as mini-scheme to give taste and premium living experience. “The Court comprises four-bedrooms, all ensuite detached houses, each with ensuite maid’s room, entrance porch, ante, main living room, dining area, visitor’s toilet, kitchen with pantry, family sitting and sit out terrace”, he said.
Ajayi further explained that “features within the Court include demarcated land area for each home, lawn and shrubs, paved internal road and motorized entrance gate into the Court. Other clusters comprise four-bedrooms all ensuite detached duplexes of three different designs mix, namely Opal, Pelican and Manderine. Each of them parades exciting individual characteristics, yet they all share endearing attributes of effortless beauty and perfect welcome-home persona”.
Other facilities in the estate include water works, power infrastructure, street light, security, landscaping and management services. The projects, which would cater for the needs of the upper medium income group, are already generating great enthusiasm among home seekers and savvy investors.