By Kingsley Adegboye

A Lagos-based property development and real estate investment company, Messrs Chattel Realty and Investment Company Limited, has announced “creative payment plans” for would-be subscribers.

The Managing Director of the firm, Mr. Ifeanyi Okafor who disclosed this at a media briefing, explained that the core value of his company is affordability.

According to him, with the creative payment plans, prospective home owners and real estate investors can make monthly or weekly subscription towards owning plots of land at their various estates.

“In two to four years, depending on the payment plan of subscribers, they can own plots in our estates,” Mr. Okafor said.

The Chattel Realty and Investment Company boss who said his firm currently operates site and service modeling with plans to go into actual development of residential estates in the near future, lamented that housing shortage across the nation is growing on daily basis.

He noted that the scarcity is not being properly addressed by the governments and real estate developers, as the estates developed by them are highly unaffordable to low income earners.

Okafor who said his firm has sites in Ibeju-Lekki and Agbowa, Lagos, explained that it was the desire to address the huge housing shortfall that made his company to embark upon the development of Palm Villa Concept which is basically affordable housing initiative.

Affordable housing

“The company’s initial focus was remodeling and renovation of run-down apartments into more liveable dwellings but the huge housing deficit in Nigeria has led to a shift in focus to the development of housing estates to help bridge the housing gap and provide Nigerians with more liveable and affordable homes. We also realised that subscribers to housing projects across the country have often had their fingers burnt as a result of activities of fraudsters. But in our own case, we are assuring them that whatever we say, is the gospel truth because we have a reputation to protect and we believe in good name.

Our objective is to provide cutting-edge real estate solutions to the enormous market which has been yearning for high quality and affordable accommodation as well as other real estate investment products.

We hope to possess one of the largest land banks within any community we operate in and with time organically grow into one of the largest real estate companies in the country by land bank suitable for the development of real estate products tailored to the interests and lifestyles of our clients,” Okafor stated.

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