Lagos-based indigenous Real Estate Development Company, Messrs Prindex Properties has reiterated its commitment to innovative designs, effective use of space and quality in bridging the country’s housing deficit.

The company’s Managing Director, Tolu Bawa-Allah, pledged the commitment during a tour of two landmark residential projects developed by the firm.

The projects include The Apple Place, a 38-unit comprising two and three-bedroom apartments built in three blocks, backed by 24-hour security, alternative power supply and facility management, as well as fitted kitchen.

The project is located on 2,600 square metre of land with proximity to the thriving Lekki neighbourhood.

The second project, known as The Dream Place comprises 16 units of three-bedroom apartments and boys’ quarters in Lekki Phase 1. The design affords the project to have two wings divided by a spine. All the units have delineated car parks per unit, ample car parks/room ventilation, lifts, 24-hour power, road network and other essential features and provide opportunities for either commercial use or residential for the investors.

Bawa-Allah pointed out that quality home delivery is key in real estate development, adding that the firm is led by industry professionals, who ensure the best design and quality homes.

He stated that there is an increase in demand for quality houses amid the huge deficit, stressing that about 85 per cent of people living in Lagos are all tenants. According to him, people want to own their homes; however, there is no mortgage system.

Speaking on the focus on two-bedroom apartments, he revealed that such units are the apartment typology that now get higher rentals, short-lets and Airbnb, which provide the best value for investors.

He disclosed that the projects are free from encumbrances and urged investors to take advantage of opportunities offered by the projects.

On challenges faced during the project, he said: “When materials pricing started shifting, the value of property started shifting too and people that bought property earlier didn’t want to pay more. But we didn’t compromise on the quality. Now everybody is seeing the finished product and happy. In some cases, we had to sell to a third party and return their money.”

Bawa-Allah further stated the need for housing professionals to team up with the government to tackle the housing crisis in the country.