Considering the current high inflation, cost of money and volatile forex coupled with other economic challenges, which have made access to housing unaffordable to the populace, the developer of Convvy Estates in Lagos and Ogun States, has revealed what the company is doing differently to keep its head above the water in order to meet the housing needs of the targeted groups.
Speaking with Nigerian Tribune in Lagos, the Managing Director/Chief Executive Officer of the company, Mr Samuel Babajide Oni, said the management has been able to implement certain strategies ranging from mass construction of buildings to introduction of installment payment plan, bulk purchase of building materials, instant allocation of houses or plots of land and flexible mortgage plans to the admiration of its numerous clients/customers.
These strategies, he said have led to the expansion and development of mass buildings in Alagbado-Itele and Awoyaya-Lekki estates, less than one year of its existence
“What we have implemented in our services and products is mass building. When you are talking of mass construction, it takes out the risk of effects of inflation. We have been able to implement certain strategies in terms of ensuring affordability by providing instalment payment plans which are more convinence.
“We do have a plan of a rolling out currently that anyone with payment plan from N250,000 on monthly basis can be a home owner.”
“We have always being a pace setter in term of instant allocation to allow and enable our clients carry out development. To make them owner of a property being landed or building. So we do have the flexible payment plan,” the CEO said
Inaugurating Farida Mirzebalaeya and AdekunleAdemeso as Brand Ambassador and Social Media Influencer of the company respectively, Oni explained that the real estate firm has identified the need for housing and proper development that promote apartment buildings, duplexes and terraces while considering the huge population in need of accommodation rather than promoting bungalows that waste space.
“As I always say, proper house development should not be considered as luxurious. Most of our current developments right now have eradicated buildings like bungalows.
“We have fully identified the needs on grounds that is population and all of that. We need to maximise the use of space, hence the developments like apartment buildings, duplexes, terraces. The use of bungalow is being put away as wasteful.
“We are trying to be prudent by actually putting in place buildings that are not just beneficial in serving the purpose of housing issue and, at the same time, relating to cost and efficiency,” he said.
Signing the contract, Farida Mirzebalaeya, promised to be a good brand ambassador of the company, stating that she would promote the company anywhere she goes.
Also, AdekunleAdemeso, owner of Esho Promotions, stated that, as a social media influencer, he would promote and add more spices to Convvy Estates.
Lamenting the high cost of importing building materials such as steel, aluminum, tiles, finished woods and the rest, Oni implored government to implement some terms and conditions that would actually help the real estate’s industry.
He said: “When we talk about lumber, about woods, you will be surprised that finished woods are being imported into the country. This is something that government should intervene and put a stop to this by creating facilities to assist local manufacturing.
If government should toll the line, the real estate developer said the initiative would lower cost of materials, which in turn will lower the cost of building constructions, thereby making houses affordable to the end users.
While calling on the government to regulate the sector, he said: “When we started our development in 2021, a bag of cement was at N2,300, but as at today, the price of a bag of cement is N4,300.
“The high price is not in the control of the developer. We do implore the government to look into this and devise means of regulating something like that.”
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