Worried by the increasing accommodation’s shortfall in Nigeria and the need to assist government in tackling some of the inhibiting challenges, developers at ATCO Homes, a fast-growing real estate firm, have reiterated commitment to making affordable housing and real estate investment’s opportunities available to Nigerian low income earners and the elites.
According to the Managing Director of ATCO Homes, Mr Triumph -Abatan Oluwayomi, the firm has mapped out plans to build 10,000 housing units in the next five years across Nigeria.
Already, he disclosed that he has acquired large expanse of land at different locations for the purpose, adding that over 4,000 plots have been laid-out for prospective subscribers and intending homeowners.
With this, he stated that Nigerians could become landowners in the new Lagos city of Ibeju-Lekki for as low as N800, 000, starting with an initial deposit of N25, 000.
To show the seriousness attached to the project, he stated the company has commenced housing’s construction in one of its estates known as” The Nation’s View Estate” at Ogombo, near Abraham Adesanya on the Lekki-Epe Expressway, Lagos.
The estate, which he said was for net worth Nigerians, would be used to connect the low income earners to their housing units, pointing out that proceeds from the former will be channeled to the housing needs of the latter.
“At ATCO Homes, we are driven by a passion to empower Nigerians to live a fuller and wealthier life. This is why we are making opportunities available to all Nigerians to own properties in Ibeju-Lekki, a choice area of Lagos.
“By the end of 2021, we are looking at 30 estates. At the moment, we have 12 estates’ portfolio settled. Five more are going through documentation right now. In the next five years, we want to capture Abuja and Port Harcourt,” he said.
Housing units in some of the estates comprise one bedroom, two bedroom, three bedroom, three bedroom terrace, and four bedroom detached duplexes.
To drive mass land-ownership and home-ownership, he disclosed that the firm has put in place a payment plan of two years with zero per cent interest on the land cost. In another case, he said there was promotion on-going in which a gift of Toyota Corolla car is put in place anyone that purchase, at once, three and above plots from one of the estates, Nation’s View Estate, located in Shapati, Lekki, Lagos
According to him, payment for the land or housing units is structured in such a way that any subscriber could pay for two years.
When asked what government could do to assist private real estate developers who are interested in providing affordable housing units for the low-income group, Olorunyomi said the state authority has been helping in the area of enabling environment, urging it to do more.
He stated that his firm would leverage on private money to fund the estate development, noting that government does not have all the money to fund housing provision.
On land documentations, the managing director of ATCO Homes assured every subscriber peace of mind, pointing out that all lands secured by his firm have genuine documents.
According to him, some came with Governor’s Consent and Certificate of Occupancy, while others have excision and some are gazetted.
Lands in the estates at promo prices range between N800,000 and N55 million, depending on locations and plot sizes.
The real estate portfolios include The Nations View Estate, Cloud View Estate in Ode-Omi, Bliss Vale Estate in Lamijo; The Blue Ocean Estate, The Dove Estate, Brampton Lake, Milton Estate, Oakville Garden, Angle Blue Estate, all located in Ibeju-Lekki, in Lagos.
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