Cadwell demonstrates resilience, courage, confidence in economy

At a time when other investors are scared, cautious, withholding investment and watching the economy, Cadwell Limited, a property development company, is committing capital to the development of an iconic residential building that will offer ultra-high quality homes for discerning buyers.

Nigerian economy  is presently passing through a watershed as the country deals with the difficulties presented by falling oil prices, reduced emerging market demands and tightening global financial conditions that have led to sharp reduction in export earnings and government revenues. All these are impacting significantly on various sectors of the economy with real estate at the receiving end.

But Cadwell and its authorities say they are undaunted. “We are a courageous organization. Courage is one of our core values; this project is a confirmation of our faith in Nigeria and confidence in the economy. Recession is an economic cycle that turns around after a while; we are taking position for that turnaround with this project”, said Muyiwa Owoturo, a director at Cadwell, at the launch of the project.

 Known as ‘Cuddle’, the iconic residential development will rise18 floors on a massive expansive of land at its location on Bourdillon Road, Ikoyi—Nigeria’s most coveted address and sought-after destination.

By every standard or stretch of definition, Cuddle is a luxury development designed with valour for the astute buyer who has a distinctive desire to embrace an edifice that will become his culture, define his character and determine his personal composure. With unmatched attention, keen eyes and skilled hands, Cuddle’s cultural comfort includes sizeable and oversize units of accommodation space with dedicated levels of luxury lifestyle.

It promises a bespoke collection of internal finishing in classic, new classic or modern mood, which affords prospective buyers the privilege to select preferred materials and tones that suit their style standards and also reflect their passion and personality. However, Seni Oguntoyinbo, a director at Cadwell, explained that the freedom to select preferred materials would be limited to the interior of individual apartments, adding that the exterior and façade of the entire building would be the same.

The project, dedicated to late Tayo Aderinokun, a co-founder of Guaranty Trust Bank, has 36 months construction completion period and, already, Trevi Foundation Nigeria Limited, reputable for their expertise, quality and professionalism, have commenced piling works on site to ensure an imposing structure of imperial standard.

Notwithstanding the challenges in the economy and very early stage of construction, Nekpen Emokpae , Head, Concepts and Marketing, disclosed at the launch that the project has recorded considerable level of interest, pointing out that their off-plan sales had achieved about 70 percent interest.

Emokpae informed that they offer flexible payment plan for prospective buyers, explaining that buyers were allowed to make 30 percent initial deposit and the balance spread over 24-36 months.

Owoturo assured prospective buyers that what they have on offer was not the regular Ikoyi apartments many of which cannot find buyers or tenants. “This is a project that is like no other in the whole of Nigeria; yes there is competition out there, but we are not competing with anybody because we are different”, he said.

In consonance with the vision of Cadwell  “to be a world class real estate development company devoted to creating exclusive lifestyles for our clients, propelled by innovation, courage, candour and respect for everyone”, the  vision for Cuddle is to create an ultra-high quality dream home for Lagos most discerning residents in a way that enhances and uplifts the wider neighbourhood.

Aesthetically, the building provides a choice of brilliantly designed and proportioned 3-4 bedroom flats and maisonettes on levels two to eight, and 4-6 bedroom penthouses carefully arranged on levels 10-17 in the east and west wing. Each level of the typical apartments comprises two units of 3 and 4 bedroom flats or maisonettes in each wing in varied layouts and designs.