‘Fairmont Estate’s Lekki land appreciates by over 30%’
Lagos-based developer of Fairmont Estate in Lekki, Messrs Propertymart, has revealed that its land would appreciate by over 30 per cent to N16.8 million.
The company also concluded arrangements to end its special promotion offer for early subscribers of its Fairmont Lekki housing scheme.
The Managing Director, Propertymart, Deji Fasuwon said that the low price being offered for land at a corridor like Lekki was a deliberate effort for provision of lands to the people as more of a need than profit consideration.
In a statement, Fasuwon said that was the reason it was first offered at promo price which is low and certain to appreciate very quickly believing that the rush for the Fairmont land at the promo price has been driven by the need to immediately obtain price appreciation at the end of the promo period this week as the price of Fairmont Lekki land immediately appreciates by over 30 per cent to 16.8 million.
He further stated that the unprecedented turn out received for the offer and the need to get more Nigerians interested in owning properties on the Lekki corridor to the Fairmont platform made the company to shift the special offer forward as it ought to have ended a while ago.
Fasuwon said the promise of providing ideal housing in order to cut the country’s housing deficit was a factor in extending the promo by more weeks in keeping with the need to allow more people to participate in the unique offer.
“It should be recalled that the property company in a surprise move according to property market players and observers, decided to sell the Fairmont Lekki land at one of the most affordable prices when compared to other property firms playing in the area.
Aside the one-off payment of N12.8 million for those willing to purchase at a go, customers can also pay the same price under a 5-year or 60 months duration with an initial payment of N640,000 and a staggered arrangement which allows subsequent payments to be broken down to make it affordable for the discerning Nigerian who desires to live around the Lekki corridor and be close to Victoria Island and Ikoyi business districts” he said.
He further explained that though the discounted offer window will be closed, the land will continue to be sold at its normal market price of 16.8 million naira.
When asked why the company is currently focused on land sale in a proposed gated estate with world class infrastructure as opposed to finished housing, Fasuwon said focusing on land sale with staggered payment option, offers easy access to credible real estate investments for the young and upwardly mobile Nigerians, while availing opportunity to scale their building projects to their taste and cost appetite.
Lekki is reputed to be the fastest growing corridor in Africa as it will soon be home to the biggest port, the biggest refinery, one of the most beautiful and eco-friendly airports in Africa and a free trade zone which is already oversubscribed.
To this end, there has been a concerted effort by the state government to provide road infrastructure around the corridor given that it is already a high traffic route– one that holds a significant economic benefit and potential to accommodate mass influx.
Beyond the above, the projected vision for the Fairmont Estate is a private living community for those who cherish serenity, splendor, space and security.
The estate is planned to avail residents a romance with nature with a large Estate Park that has lavish lush greens with large walk-ways.
Subscribers to the offer will also get a chance to live in customised homes with open frontage such as seen in Citiview Estate and other highbrow Estate within the Lekki area” he said.
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