Plantation city to boost real estate investments in Delta state
The full development of Planation City in Warri, Delta State will bolster the real estate sector and help it become a major investment destination, the Chief Executive Officer of Delta Mega Trend Nigeria Limited, Mr. Sam Ogrih, has said.
Before now, the oil city was a ‘no go area’ for real estate investors due to security challenges and unwillingness of banks to support such ventures, leaving Lagos, Abuja, Port Harcourt as choice locations for prime developments.
However, the doggedness of some of the investors and property developers like Delta Mega Trend had changed the real estate trajectory in Warri and environs.
Plantation city is situated on 120 hectares at Otokutu Delta Steel Company Expressway. According to the expert, the city is a perfect demonstration that Nigeria can grow its economic potentials through the real estate because of the multiplier effects that come with construction industry as seen in places like Dubai.
At present, the city is providing over 650 employments daily to artisans, plumbers, bricklayers and electricians, thereby reducing unemployment among the youths.
The mixed development residential estate has a Certificate of Occupancy from the Delta State Government, operates a site and services scheme and promote community and environmental sustainability for indoor and outdoor living experience for those who truly desire it.
It is strategically located on a large expanse of land, a natural and serene environment where children are free to play in a safe, secured enclosed community, ride their bicycles, where parents and residents also stroll around in an extremely beautiful, peaceful, fully landscaped, green, clean, and brightly lit environment.
The city, which started in 2009 boasts of exclusive one bedroom, two bedroom and three bedroom bungalows, semi-detached duplexes, exquisite self-express duplex, a police station and 24-hour uninterrupted power supply and lettable areas with 40 per cent occupancy rate.
The developer who is a graduate of Havard School of design, smart and Intelligence housing, made space management an integral part of the building design, utilising several development concepts,and making infrastructure key to housing construction.
According to the developer, the success story of Plantation city has spurred the beginning of South Brook Gardens, another real estate development near Airport road in Warri, with a natural environment setting and design.
The estate uses smart technology and runs on independent power of 1.5 megawatts, drainage system and central water supply. The project which started with N100 million loans from Union Homes and personal savings has attracted over 20 per cent clienteles from abroad.
Speaking on the development, Ogrih said the city was mooted by his determination to change the real estate landscape in Delta state.
He said that what it takes to start investment is not really capital but vision and determination, as he only started with N100 million facility.
According to him, money was only released to him after his house in Lagos was used as collateral for the loan.
Ogril said, the Plantation city started development with bungalows, and the price was driven by the cost of infrastructure.
According to him, those who bought into the project are already reaping the gains of their investments. He also stressed that most of the materials used in the buildings are produced in the city under strict supervisions to prevent building collapse.
He recalled that getting the people to believe in the project was his greatest challenges as security was a big issue at the beginning of the project as most people were afraid of investing in Warri.
Ogril however, expressed gladness that the city has changed the real estate narratives of Warri and Delta state as a whole.
One of the subscribers, Mr. Emmanuel Shegbaye, who applauded the vision behind the project, advised the management to work with subscribers to ensure sustainability of the estate.
According to him, the subscribers, should not be seen as bystanders but as owners in the management of the city.
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