Despite uncertainty in the housing sector, worsened by rising inflation in the country, a real estate construction firm, Egletek Nigeria Limited, has commenced development of luxury homes in Lagos.
The project, known as Signature Apartment and located at Abijo, Lekki, consists of two, three bedrooms, five bedroom detached apartments with boysquarters and terraces.
Conceived as a family setting, every section of the project has between 10 to 13 units each in 2,600 square meters, while the entire area for the project is about 10,000 square metres.
The project comes in phases, the first comprises 36 units of houses, which are to be delivered by July and August next year. The estate features 24-hour power and water supply as well as CCTV camera, alternative solar energy, green areas for barbecue, hardwood flooring, marble finished tiles, living rooms and all rooms en-suite, vacuumed sewage system, three airconditioners and two television set for each subscriber.
Speaking at an exhibition to showcase materials being used for the apartments, the Chief Executive Officer, Egletek Nigeria Limited, Olalekan Alabi, said the estate will provide a paradigm shift in affordable housing in the country.
Before delving into commercial projects, the firm, he said, had remained a household name in warehouse, roads, telecommunication masts and individual home constructions.
To survive in the recessed economy, developers, he said must evolve a workable flexible payment plan. Alabi, an engineer, said the firm has adopted flexible payment plan for the scheme, which will enable subscribers pay for their apartments in 18 months as a means towards reducing the nation’s housing deficit.
Also, speaking, the General Manager of the firm, Jeffrey Umunna, said the luxury apartments are within the reach of Nigerians. According to him, the prices range from N25 million, while prospective subscribers can pay N5 million as down payment, while balance is spread over 18 months.