Developer unveils Oriental Gardens for mid-income earners, investors

In its bid to provide mid-income earners opportunity to own affordable homes without much financial stress, Lily Homes, a Lagos-based real estate investment company, has unveiled a new homeownership scheme for intending homeowners and real estate investors.

Located along the fast-developing Agbara-Igbesa axis in Ogun State, Oriental Gardens is a few minutes’ drive to Agbara, a town bordering Lagos and Ogun State. It sits on 40 hectares of land split into serviced plots.

The estate which has great potential for high investment return is aimed at providing intending buyers residences which can also serve as investment asset based on the neighbourhood’s precedence.

It is surrounded by other fast-developing estates and has as its close neighbours multinationals such as Unilever plc, Nestle plc, Evans Pharmaceuticals, Crawford University, and the Chinese village.

“Currently, plots are selling at the estate for N1.5 million per plot with flexible payment plan to encourage intending buyers to pay periodically. We are also selling residential apartments on the estate such as one-, two- and three-bedroom bungalows,” Moses Oluwafemi, a senior official of the company, told BusinessDay.

A unit of one-bedroom, inner and outer, sells for N4 million and N4.25 million, respectively, while the two-bedroom semi-detached and fully-detached bungalows will be available to clients at N5.3 million and N5.6 million, respectively.

Also, the three-bedroom semi-detached and detached bungalows will be sold for N6.2 million and N6.5 million, respectively.

Moses, however, said that the firm through its Easy Home Acquisition scheme would accept a 30-percent initial payment from clients for each of the apartment, while the remaining 70 percent would be split over an agreed period of time.

All apartments, on delivery, will come with ample parking space for residents. Current amenities at the estate include perimeter fencing and access road, while other facilities expected on delivery include well-paved access roads, street lights to illuminate the estate at night, sewage systems and effective security for residents.

“Our major drive for this scheme is to enable most mid-income earners become homeowners with pocket-friendly payment system that is affordable,” he said.

By: ODINAKA MBONU