At Pennek’s Pen Gardens, buyers get 13% off property value

In line with its vision to be the preferred provider of quality and affordable homes in a serene environment, Pennek Nigeria Limited, a real estate development and investment company, is currently offering residential and investment opportunities to home seekers and investors at its new Pen Gardens Estate where buyers get 13 percent discount for every plot of land bought.

The estate, which sits on about 10 acres of land at Apakin, Lekki Town, Ibeju-Lekki, Lagos, enjoys close proximity to the Lekki Free Trade Zone (LFTZ), Eleko Beach, Lacampagne Tropicana, Lekki Golf resort, Liberty Park and other residential estates including Amen Estate.

Kennedy Nnadi, Pennek’s manager, told BusinessDay that the estate, currently at its take-off phase, is offering home buyers and investors plots of land for sale, adding that a plot of land at the estate goes for N950,000 promo price, and will revert to the normal price of N1.1 million per plot by September.

“The estate is tucked in a serene and developing environment; this is a huge investment opportunity for investors and intending homeowners,” he said, explaining that developing areas usually guarantee more return on investment for investors than fully developed areas.

“We are currently at the take-off phase with clearing and land mapping while infrastructures such as perimeter fencing, street lights, and paved access road will be delivered soon,” he disclosed.

On flexible payment plan available to buyers, Nnadi noted that there are various payment plans. These are Plan A, which requires an initial deposit of N500,000 and balance of N600,000 spread over three months, and Plan B, which allows a buyer to deposit an initial sum of N400,000 and a balance of N900,000 split over a period of six months.

“We intend to start building within the next 12 to 24 months when we will deliver different house-types, such as block of flats that will sell for between N8 million and N10 million,” he said.

“Also, we will build terrace duplexes of different types and configurations to suit the mid and high income earners as prices will range from N11 million to N18 million. Our major distinction from our contemporaries is the cheap rate at which our plots are currently been sold,” he added, urging investors and homeowners to take advantage of the current promo which would end at the beginning of September when the plot prices are expected to soar, especially when construction commences at the estate.

By: ODINAKA MBONU