While managers of the Nigerian economy are struggling with the downturn in oil prices at the international market, and other real estate investors/developers are cautiously weighing their options, UAC Property Development Company (UPDC), Nigeria’s leading light in real estate development, is busy ‘building for sustainable value’ and delivering same to investors and homebuyers alike.
Recently, the company commissioned its up-market and exclusive residential development called Cameron Green Estate located on Cameron Road, Ikoyi—a highbrow neighbourhood in Lagos, Nigeria.
The estate which derives its name from its location and environment lays much emphasis on greenery in line with the company’s environmental sustainability campaign which explains the company’s decision to build on only a small fraction of the estate’s 11,500 square metres gross buildable area (GBA).
At an elaborate commissioning ceremony that paraded high net-worth individuals including the expatriate community, Hakeem Oguniran, the company’s managing director, said that at UPDC, they had a contrary view of the economy, explaining that while other investors and developers were slowing down, watching price movements in the international oil market, they saw opportunities to grab.
“Because we understand real estate to be a store of value, we are not daunted by the drop in the oil price and its negative impact on the economy; for us, this is the time to invest and deliver to the market”, he said, assuring that they would continue to deliver value to their discerning clients.
Oguniran enthused that whereas Ikoyi property market was experiencing high vacancy rate due to low demand, the Cameron Green apartments were fully sold out, because “this is not a concrete jungle like others you see all over Ikoyi”.
According to him, the estate comprises two blocks of flats and four 5-bedroom detached houses with 2-bedroom boys’ quarter each house standing on approximately 1,000 squarre metres of land with its own swimming pool, adding that it come with a full range of facilities for the convenience of residents.
“The orientation of these buildings is deliberate; the buildings are designed to have limited exposure to sun rays because of the eco-friendly elements of the houses; the roofing materials are in line with our green initiative and so far, we have planted 128 trees in the estate”, Oguniran disclosed.
The 28 apartments in the two blocks of flats consist of 10 units each of 3-bedroom and 4-bedroom apartments and eight units of 2-bedroom apartments, all with luxury finishing and equipped with fitted kitchens and air conditioners.
The environmental friendliness; exclusive location guaranteeing privacy and peace of mind; full range of amenities including fitness centre, lawn tennis court, swimming pool; full facility management services is offered by UPDC all define the estate’s unique value propositions. Added to this is that the estate is an excellent investment with strong rental yield; quick /high occupancy rate; insignificant void period; and assured capital appreciation.
To ensure the comfort of residents, the estate is equipped with modern facilities including swimming pool, gymnasium, lawn tennis court and children’s playground. It also parades easy drive way, ample parking lots for residents and visitors; borehole and water treatment plant; sewage treatment plant; PHCN electricity and stand-by generator.
(Culled from http://businessdayonline.com)