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Realty Point Limited to deliver 160 affordable housing units

In its bid to deliver unparalleled comfortable living experience within the most affordable and cost effective means to subscribers, Realty Point Limited, a Lagos-based real estate firm has launched her brand of home ownership scheme tagged ‘Cedar Homes’ aimed at providing access to quality and affordable housing for middle income earners.

To this end, the firm has commenced plans to deliver 160 housing types at Cedar Homes located at Ogombo in the Lekki Phase 2 scheme of Lagos state. The ground breaking ceremony of the residential estate which comes up in January 2017, is expected to be completed in 36 months. The estate sits on 22,000 square metres.

According to Mr. Stephen Ajayi-James, RPL;s project manager during the media tour of the site last week, the project was conceived to ensure that the expectations of owners, occupiers and would-be investors were taken care of with the various housing types in the estate.

Ajayi-James who stated that the estate will comprise 16 blocks of four floors each, added that there will be rent-to- own apartments in the estate, explaining that after the initial payment of 30 per cent of the cost of the housing type, the balance will be paid in 15 years. He said there is a mortgage facility to be provided by Home Base Mortgage Bank for those who are interested in purchasing their housing units through mortgage loan.

Speaking during the launch at the weekend, Managing Director, Realty Point Limited, Mr. Gbadebo Adejana said that Cedar Homes which is strategically located at Ogombo in the Lekki Phase 2 area of Lagos, is sitting on a total of 22,000 sqm and aims to deliver 168 comfortable, convenient and qualitative housing units.

Adejana hinted that Cedar Homes will be offering its prospective owners, occupiers, investors and tenants buyer five unique things that differentiate it from familiar home scheme in the country.

“We know that spread payment is common in Nigeria, but we are introducing reservation payment pattern which allows our customers to make interest reservation with a token and then come up with payment at a later time as agreed. Also, we have rent to own scheme package that is backed up by developer for numbers of units of the project.

“Also as part of our commitment to hold ourselves accountable, we have come up with a team of professionals that will be managing the account that the buyer will be paying the project money into such that disbursement will be as agreed.

Adejana added that they have instituted Foundation for Help as an initiative to drive Social Housing as a Corporate Responsibility Investment, to help in providing subsidized non-market rental housing for the disadvantaged and vulnerable groups with no income or low income. “This is where certain percentage of sales proceed for Cedar Homes project will be set aside for the construction of different accommodation for this group.”

The Chairman Board of Directors, Realty Point Limited, Femi Dosumu, an engineer, said that the estate is conceived as an eco-friendly and environmentally sustainable gated community offering exceptional facilities to foster qualitative living, better health, improved communal relationship and social engagement.

“We have formidable team of tested and competent professionals as consultants to the project which include Corporate Castles Design Associates as Architects; Corporate Castles Ltd, as Town Planners, Tolu Olufemi & Partners as Quantity Surveyors; McDonstep Civil & Structural Engineering Ltd as Structural Engineers among others.”

Source: Nigeria Today

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