Lagos-based property development firm, Prindex Properties, has emphasised the need for consistent delivery of quality housing in the real estate sector, noting that high standards are essential to sustaining investor confidence and long-term value.
The firm also underscored the importance of strategic partnerships in addressing macroeconomic challenges, particularly inflationary pressures that continue to affect construction costs, housing supply and affordability.
Managing Director of Prindex Properties, Mr Tolu Bawa-Allah, an architect, spoke at the showcase of Apple Place Apartments in Agungi, Osapa–Lekki. He said quality must remain constant across all projects to deepen subscribers’ interest and strengthen the credibility of developers.
“We do not believe in compromising quality because it is a constant across all our projects. We have been able to partner with some financial institutions to front-load materials for our projects so that we do not get into a situation where prices rise midstream, and additional costs become inevitable,” he said.
Bawa-Allah disclosed that the development includes a completed block of 16 apartment units, two additional blocks of 16 apartments each, and another block of six units currently under construction. The development comprises two- and three-bedroom apartments with mid- to high-level finishes.
According to him, the apartments are equipped with 24-hour facility management, fitted open-plan kitchens, ample car parking, security systems and alternative power supply.
He revealed that the two-bedroom apartments were specifically designed to cater to the short-let and Airbnb market, urging investors both within Nigeria and in the diaspora to take advantage of the opportunity.
“Each block consists of a ground floor, first, second and third floors. From the design perspective, the three-bedroom units are located on the top floor, where one of the bedrooms is accommodated within the roof space and is well ventilated. The other floors consist mainly of two-bedroom apartments,” he explained.
Bawa-Allah added that the project’s location offers strong appeal, noting that it is about 10 to 15 minutes from Circle Mall and the Lekki Expressway, and situated in a serene environment.
He disclosed that the two remaining blocks, which have been under construction for about two years, are expected to be completed next year.
“We look forward to completing the other blocks, which will add about 38 apartments to our portfolio of properties under management. That is the business model we operate, where we also manage the properties on behalf of the owners,” he said.
According to him, the showcase was strategically timed to attract the “Detty December” influx of Nigerians in the diaspora and other visitors returning home, offering them the opportunity to assess viable real estate investment options in Lagos.
