By Kingsley Adegboye
4point Real Estate Investment Ltd, a Lagos-based property development company, is championing the drive for real estate investment opportunities targeted at millennial investors with the development of affordable housing schemes in suburban Lagos communities.
Leveraging on the successful launch of its maiden housing scheme, Rose Gardens, in Asese, Ogun state in 2018, the company has introduced a new premium development called Wealthgate Park at Eleko, Lekki, Lagos.
With Wealthgate Park, which primarily comprises land offers, the firm aims to demystify the perception that middle-class citizens cannot own a property in the highbrow Lekki axis as the property is situated around popular landmarks in the Lekki axis such as Lufasi Park, Amen Estate, Eleganza industrial city and the Pan Atlantic University.
The Managing Director, 4point Real Estate Investment Lit, Mr. Wale Olayanju, stated that the company, which until recently, had concentrated its effort in developing residential communities across the Mainland metropolitan area of Lagos state, launched Wealthgate as a social enterprise strategy to encourage more millennials and young Nigerians to start investing in real estate.
Olanyanju explained that 4point Property does not just believe in housing that meets subscribers’ need, but also believes in examining the challenges at every point in the housing value-chain and providing credible answers which meet the need of its clients.
According to him, “With the introduction of Wealthgate Park, 4point Property is steadily extending home-ownership opportunities to millennials, among others, a class that has been largely overlooked by development firms as many cannot directly afford the outright payment or short payment tenure associated with genuine developments in the Lekki axis with verifiable title documents”.
Olayanju said a parcel of land in the scheme sells for N7.2 million, far below the prevailing market value of about N12 million in the axis, adding that his firm has put in place flexible payment options that are as low as 4.5 per cent annual mortgage rate for buyers, and is in the process of securing key partnerships with mortgage banks to allow the spread of payment spanning five years. Other benefits of the scheme he said, include absence of the traditional land grabbers and land speculators, as all legal documentations are given to buyers under the scheme upon the completion of payment and no hidden charges.
“Beside the fact that Lekki stands out as one of the most ideal investment hubs in African real estate with lots of infrastructure earmarked for the area, such as the Free Trade zone, refinery project and many others that will see property value significantly appreciate in the next few years, the Wealthgate land offer could not have come at a better time”, 4Point real estate boss noted.
He further stated that “The idea of the Wealthgate was to create a luxury private community at a fast-developing location that Nigerians can comfortably afford and where they can live a life of comfort free from the hassles, noise, stress and pollution of major cities.
“The estate, he said, is being carefully conceptualised to give a well-planned environment with lush green gardens, extensive walkways, leisure/relaxation centres, Play area for kids and with modern infrastructure putting into consideration serenity, splendour, security and space. Its aesthetics will further be heightened by the availability of street lights, paved roads, good drainage, security patrol and easy transfer of ownership.
“At 4point real estate, we strive to create innovative real-estate based investment solutions, that intelligently and ethically leverage the current crises in the economy, to empower the investor and enable high actualized returns with low-risk exposure and we are poised to achieving this through Wealthgate Park”, Olayanju Said.