Landwey Investment Ltd, a real estate company, has partnered PiggyVest, an online savings and investment platform, to make choice landed properties in Lagos available at affordable rates.
Ordinarily, the desire of acquiring land in the Lekki-Ajah axis of Lagos is an expensive venture out of reach of the average young worker.
However, this initiative which has already kicked off, aims to make such ambitions a reality. It will enable interested buyers to purchase land in square metres according to the amount they can afford per time.
The buyer can then choose to buy more land whenever they have more funds to do so or sell what they have at the current market value of the land.
Speaking at a press conference to announce the initiative on Friday, Olawale Ayilara, Managing Director and Founder of Landwey Investment Ltd said, “We cannot talk about bridging the housing deficit in Nigeria without talking about accessibility.
“Accessibility is key and central to the conversation to make land ownership for Nigerians an attainable dream regardless of their income levels.
“The purpose of the partnership bears in mind that people save for several reasons; and on a trusted platform such as Piggyvest, people can take little steps and buy real estate as either an investment or to be built in future.
“There has also been a huge demand for land infractions and with a platform like Piggyvest comes an advantage to access and own a piece of 100 per cent genuine property.”
Ayilara said that Landwey has properties between the Lekki Second Roundabout and Lakowe. The partnership currently provides for ownership of land in Landwey’s Frontier Estate in Lakowe.
PiggyVest CEO, Somtochukwu Ifezue, said, “The initiative is a highly remarkable partnership with LandWey. The two brands have come together to ensure everyone and especially young people can own a piece of land as little as one square metre with a very small amount of money.
“It creates entry paths for virtually any Nigerian within low and medium-income brackets to actualize their dream of premium land ownership.”
Ifezue said that the journey to land ownership begins by subscribing to a savings scheme with PiggyVest, making per square metre payments for land, and getting to full-on allocation after having made payments worth a minimum of 300 square metres per plot, and increments of 150 square metres thereafter.
“We are truly excited about the relief that this scheme will bring to many Nigerians. It brings us so much satisfaction to drive this customer-centric solution in hands with LandWey, to make land ownership for Nigerians an attainable dream regardless of income levels,” he said.
“With this scheme, virtually any Nigerian can live their urban dream by taking gradual steps towards the acquisition of land in square metres, whether for habitation when it amounts to 300 square metres, or for investment purposes. After your investment has gained appreciation it can be resold.
“We all know that land keeps appreciating, and so continuously waiting for a lump sum to invest in real estate might make this dream become farfetched, and so this initiative is driven by demand.
“When the most trusted name in real estate and savings platform collaborates, then you can rest assured that this is going to be the most authentic, reliable entry into real estate investment that cuts across class or income strata,” the PiggyVest CEO added.