By Kingsley Adegboye

Richlife Properties Ltd, a subsidiary of Richlife Commercial & Logistics Ltd, which is into real estate development with residential estate locations across Lagos and Ogun states, has revealed that real estate investment is the most profitable investment with a returns on investment ROI.

It added that smart investors always have the foresight of where the world is going per-time and then position themselves to become richer.

Making the revelation weekend at a one-day investors’ forum showcasing opportunities in investing in real estate in Lagos, the Managing Director of the group of companies, Mr. Bankole Oluwasheyi, who said this is the first investors’ forum to be organised by the group, noted that there is future in investing in real estate because of abundant benefits to be derived from such investment.

Residential Housing Estate 

Richlife boss who said if Alinko Dangote, the richest man in Africa, is still investing and diversifying across businesses, asked why won’t Richlife continue to invest in real estate.

According to him, the initiative to invest in real estate will address housing deficit currently facing the country, pointing out that why investors should invest in Richlife’s housing projects is that “We have over 10,000 customer base, 16 estates across the country, capital base of N4 billion in three years of the company with workforce of over 1000. With these achievements of the company in just three years of commencing business, it means  we are in a position to talk about business opportunities”.

Speaking on importance of real estate investment, Mr. Uduak Ekpenyong, a director in the group, said investing in real estate is a win win situation for everybody including the company, investors and even the land owners.

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According to him, because the real estate company buys land in hectares, it will bring about economy of scale, meaning it is cheaper when one is buying land in acres or hectares, adding that the subscribers to the housing scheme will not have problems with land grabbers.

He said above all, the land in question continues to appreciate in value and will have a high return on investment ultimately.

On profitability of investing in real estate, Mr. Olufemi Awonuga, said apart from profit making by investing in real estate, other benefits of the investment include full control of the property by the investor, there is an investment for every budget, which means that whatever your budget is, you will have property to invest in.

Awonuga pointed out that investment in real estate is flexible, it does not require special skill to do that, it is not too late to invest in real estate, it is one of the most profitable investments, and a few years after investment, you will be glad you did.

Unveiling New Lagos Homes which is located in Ibeju-Lekki, Oluwasheyi said the estate is a 30 acres property situated in the strategic and developing area of Ibeju-Lekki, Lagos, pointing out that the axis is the new Lagos as a result of the high concentration of developments springing up in the area such as Dangote Refinery which is expected to be the world’s biggest single-train facility estimated to cost 14 billion dollars, Lekki International Airport, Deep sea port, Free Trade Zone and others.

He said “”This offer is an opportunity for you to invest and own a piece of the New Lagos Homes. After two years, the investors gets back his principal, 20 per cent interest per annum and still retains his plot within the estate after this two years period depending on amount invested. N10 million investment for two years gets 20 per cent guaranteed return on investment per annum and 800 square metres plot in the New Lagos Homes currently valued at N5 million”, Oluwasheyi stated.