An indigenous developer, Messrs Reality Point Limited, has added another estate to where property watchers have described as the fastest growing corridor in Nigeria, which is on the Lekki axis in Eti-Osa East Local Government Area of Lagos State.
The housing project, dubbed Cedar Homes, is a brand carefully conceptualised and designed as a haven of comfort for the prospective owners, occupiers, investors and tenant-buyers, is strategically positioned in Lekki Scheme II in and Jabi District, Abuja FCT.
The project which sits on approximately 22,000 square metres is aimed at delivering 168 housing units.
Speaking on the project, Reality Point Limited, Construction Project Manager, Mr Stephen Ajayi-James stated that the project was painstakingly conceived to ensures that the expectations of both the owner occupier and would-be investors are well taken care of across the different housing types available within the estate.
According to him, the estate is also conceived as an eco-friendly and environmentally sustainable gated community offering exceptional facilities and services to foster qualitative living, better health, improve communal relationship and social engagement within the most affordable and cost effective means.
According to the Managing Director of Reality Point Limited, Mr Debo Adejare, the Architect is Messrs Corporate Castles Design Associates, while the Planner is Corporate Castle Limited. Quantity Surveyor is Messrs Tolu Olufemi and Partners, McDonstep and Structural Engineering Ltd, is the Structural Engineer, while Gold Management Associates is the financial Consultant.
Others are Homebase Mortgage Bank Ltd., as the mortgage partner and the Marketing Partners is Brokerfield Real Estate Services Limitedn among others.
”Ceder Homes is an affordable housing development, primarily aimed at providing access to quality housing solutions for middle income earners with the hope to deliver unparalleled comfortable living experience within the most affordable and cost effective means to our valued customers”, said Ajayi-James.
Speaking on the advantages inherent in the project, he listed location as the first. For those who are familiar with Lagos, Cedar Homes is just four minutes drive from Abraham Adesanya Estate and six minutes from Ajah round-about
“It is 10 minutes drive to Pan Atlantic University ( Lagos Business School) campus, with similar distance from Ikota Shopping complex and VGC. Other strategic institution within the vicinity inclide Atican Beach Resort with
accessibility to Lekki-Epe Expressway, the New Lekki Mall, the new Lekki Development Zone which consist of pipeline projects such as LFTZ, Lekki Deep Sea Port, New Lekki Airport, Pan Atlantic University, Dangote Refinery among others.
“Proximity to other residential estates such as Atican Beach Estate, Grenadines Apartments & Terraces, Ocean Bay Estate, Lekki Gardens Estate, Lekki Pearl, Inoyo Estate, Gran Imperio’s Grand Lake Estate are other added advantage”. He said, listed value proposition to include comfort, convenience, quality and affordability.
Notable strength and advantages are non-encumbered Title; capital sourcing strategy; Integrity of the project sponsors; Design; High market absorption; project planning and delivery and pricing strategy, among others.
House types conceived are 160 units of flats that will be standing on four floors in 15 blocks, consisted of Studio apartments, one, two and three bedroom apartments, while some of the 3-bedroom would be provided with maid’s room or private family lounge
Payment plans are as follows;
Option 1- Rent-To-Own. Payment of initial 30 percent deposit spread over 24/36 months. Upon delivery and handover, payment of agreed rent over 10,12,15 years followed by payment of a lump sum closing fee to own the unit.
Under this option, a total of four units have been reserved. For example, 3-bedroom include maid’s room, 3-bedroom lounge and 2-bedroom types, and so on.
Second option is through instalment, that involves payment of minimum initial deposit of between 20-30 percent and balance spread over a period not exceeding 36 months
Option three is mortgage facility, with payment of minimum initial deposit, followed by payment of the balance in partnership with mortgage banks for qualified prospects.
Other option is outright payment at pre-delivery stage to enjoy a reasonable discount
“Payment of 20-30 percent [net of reservation fee] of purchase price as initial deposit for selected unit(s) within 60 days from when reservation fee was paid.
“Instalment payment of other fees, levies and charges such as legal fees, VAT, infrastructure levy, including estate and facilities management fee deposit are expected to be paid.
Payment of an annual service, maintenance and facilities management of the estate.
“Cedar Homes has an extensive value preservation strategies with integrated property and facilities management, Round the clock security with boots on the ground, CCTV surveillance and access control
Priority access to world class recreational facilities, including a kids play ground, swimming pool, gym, indoor and outdoor lounge and jogging area
“Top notch services and infrastructure such as water treatment, solid waste treatment, fire hose and reel system, smoke detectors and street lights,” said the firm officials.