Gran Imperio’s housing revolution holds promise for 5,000 ‘EssentialHomes’
Consistent with its passion and commitment to bridge the housing demand-supply gap that has left many Nigerians without their own homes, Gran Imperio Group is out with what could be termed a housing revolution that holds promise for 5,000 ‘EssentialHomes’ in the next 24 months.
A new generation real estate investment and development company that has demonstrated uncommon capacity to make a difference in the Nigerian housing market, Gran Imperio is a holding company to Howard Roark Limited and Metropole Interproject Limited.
Early this year, the company announced its preparedness to deliver ‘EssentialHomes’ targeted at middle-income earners who, it noted, were grossly under-served in terms of home-ownership, adding that they were also out to deliver significant value to institutional, corporate and private clients.
Recently, authorities of the company gathered together relevant stakeholders including the media, mortgage institutions, banks, subscribers and potential subscribers to the ‘EssentialHomes’ products to showcase what they have been able to do in the last 100 days towards the delivery of these homes as promised . The meeting, they added, was also to foster participation and dialogue between them and the stakeholders in order to plan for expansion to meet the enormous needs of the market.
Adeyeye Ogunwusi, the company’s CEO, told the gathering that EssentialHomes were borne out of necessity, explaining that his passion and the desire to relieve the middle-class the burden of homelessness was part of the reasons they decided to undertake EssentialHomes. “And we have been able to deliver the first phase of this project within 100 days as promised”, he enthused.
According to him, EssentialHomes concept was aimed to simplify construction of residential homes, adding that, judging from the volume of enquiries they get on daily basis, he could say that the product has been widely accepted in the real estate market.
Henceforth, the housing market expects essential homes from the company’s Grand Lake estate—an affordable residential community that will deliver 554 housing units comprising one, two, three and four-bedroom terraced bungalows that will take just 180 days to build.
Other developments are Southpointe 11 which is an extension of Southpointe Estate promising 196 housing units; Golden Leaf is another development that will deliver 72 housing units comprising different house-types; and the Oworonshoki Redevelopment Scheme—a 200-unit affordable residential community that will offer spectacular ambience, detailed finishing, security and recreational facilities.
Ogunwusi stated that though these houses are affordable, they are also upscale which is why, perhaps, the prices of the units range from N7.95 million for one bedroom terraced bungalow; N14.95 million for three-bedroom to N22.45 million for four-bedroom depending on location.
The payment plan for these units are varied with one-off payment which attracts 5 percent discount; two installment payment; four installment payment and flexible mortgage to be provided by Imperial Homes Mortgage Bank (formerly GTHomes) at 14 percent interest rate for between five-20 years tenor.
Bola Haruna, Deputy General Manager of Imperial Homes, assured those who would be interest in their mortgage facility to buy any of the units, that they stood the chance of getting single digit interest rate when the Nigerian Mortgage Refinance Company (NMRC) starts operation.
Isaac Etim, Gran Imperio’s Sales Manager, disclosed that they have a ‘Rent-to-Own Housing Scheme’ which, he explained, is a flexible savings scheme for tenants that are anticipating to buy their own property in the next 2 to 3 years. He assured that the scheme guarantees rental yield for investors interested in buying their products while they provide potential tenants for the units.
Chuka Uroko