Soe Properties in new devt strategy, woos buyers with affordable serviced scheme
Soe Properties, one of Nigeria’s first generation real estate investment, development and advocacy firms, has made a significant shift in its development strategy. It is now offering affordable site and serviced plots of land at its new scheme called Heaven’s Gate Estate Phase 3.
This is the company’s own response to the market realities which encourage developers and providers of real estate products to consider the purchasing power of consumers which has dropped significantly as a result of the downturn in the economy.
Soe Properties, before now, was into the development of houses targeted at the middle and upper middle class buyers. Heaven’s Gate Estate Phase 1, particularly, offered both detached and semi-detached bungalows comprising two and three bedroom apartments and sold for prices ranging from N26 million to N42million.
Heaven’s Gate Estate Phase 3, according to officials of the company, is a site and serviced scheme and gated estate with all the necessary infrastructure including drainage, interlocked roads, street light, CCTV, patrol guards, community centre, children playground, swimming pool and sport facilities.
“This is a place where you can buy your serviced plots of land and build your dream home without issues or any challenges from native land owners commonly called Omonile or government land seizure as the root title is a global certificate of occupancy (C of O)”, assures Olisa Ebigwei, the company’s CEO.
Ebigwei explained in a statement obtained by BusinessDay at the weekend that the new scheme’s strongest proposition is its location the fastest developing and most sought after part of Lekki in Lagos.
“Heaven’s Gate Estate Phase 3 is located in Bolorunpelu Town, right at the intersection of Lekki Airport Road and Lekki-Epe Expressway. It is affordable to everyone willing to invest in real estate either for the primary purpose of accommodation or strictly as investment or both”, he said.
He added that the estate’s location at the epicentre of commercial and residential center of the Lekki Airport residential area makes it a typical example of Ajao Estate which is located beside the current international airport road in Lagos.
There are two main plots sizes in the estate and these are 600 square metres and 300 square metres and the entire estate has global certificate of occupancy (C of O) issued by Lagos State Land Bureau on behalf of the governor of the state.
We offer very attractive payment structure that is not only flexible but also affordable, Ebigwei said, adding that any buyer opting for the 600 sqm and is ready to make outright payment will pay N6 million while 300sqm of serviced plots attracts N3.2 million for outright payment and his plot is allocated immediately and construction can also commence immediately.
But for the buyer who does have all the cash and prefers to make installment payment, the plan for 600 sqm is 12 months and the price changes toN7million with an initial deposit of N2.5million. Subsequently, he will paying N417,000. If he chooses to spread his payment to 24 months, the initial deposit is N3 million while his monthly payment is N230,000.
As fot the 300sqm, outright payment is N3.2million. But a buyer who chooses to pay by installment, the initial deposit is N1.5million while monthly payment is N167,000 and this is for 12 months period. For 24 months, the initial deposit is N2.5million and monthly payment is N87,000
“This estate enjoys closeness to Free Trade Zone, Refineries, Deep Sea Port etc which are industrial zones that will require accommodation for their staff, personnel, contracting companies and ancillary businesses”, Ebigwei said, assuring that the estate is a good buy for whatever purposes it might serve.