In Banana Island, one of Africa’s most exclusive residential destinations, future is evolving as Sujimoto Construction Limited commences construction work on its ambitious LucreziaBySujimoto which hopes to change the skyline of its immediate environment and disrupt investment market.
Lucrezia is a new innovation in residential development. It promises to be the first of its kind not only in its exclusive location but also in Nigeria at large. The building is conceived to deliver to every resident an Imax cinema effect where a Hollywood standard cinema will be available for all residents to watch and enjoy in the company of family and friends.
There will be an interactive lobby reflective of what obtains in 5-star hotels; standard and convenient crèche, 4-metre floor to ceiling height that gives a royal effect in each room; Olympic-size pool, gym with the latest equipment by Technogym and a GRC façade.
“When we say we are building the best condominium, we are not bragging. We have done our research and looked through all the tall buildings in Ikoyi; no building shall compete with the Lucrezia,” ‘Sijibomi Ogundele, CEO of Sujimoto, assured in an interview with BusinessDay.
Lucrezia will come wrapped in a rare façade system known as Glass Reinforced Concrete (GRC), and the promoters assure that coming onboard early with them will give buyers strong pricing competitive advantage.
Ogundele explained that early investors, that is, those who buy off-plan now, will be saving about 40 percent above market value, saying that even though there are some empty buildings in Ikoyi and Banana Island, their own would always be sold out.
The reasons for this, he said, were two-fold, including the realization that many developers put immediate gratification above value creation; “so we made it a philosophy to put quality at the foundation of who we are; clients can see quality, not only on finishing but the way we go the extra mile in delivering luxury.”
The other reason is the value they offer. At Sujimoto, it is essential for them to have a great pricing point, putting customer satisfaction first and giving early investors a strong competitive pricing point.
Their value proposition is such that, today those who bought apartments at their Gulliano, also in Banana Island, for N320 million per unit are refusing to sell at N450 million after less than 18 months.
Sujimoto believes in building with strong foundation which is why LucreziaBySujimoto, whose piling is about 80 percent completed, will be sitting on approximately 94 piles with each at 900 diameter,and going 45mm deep.
“We will not only do the pilling but we shall make sure all piles go through a Structural Integrity Test (SIT) which is what will make us sleep at night because for the next 1,000 years, you are guaranteed that the Lucrezia shall still remain standing,” he said.
The building is already garnering buyer interest which explains why, of the first batch of 6 units, released into the market, only one unit remains and Ogundele says that immediately they sell that off, they will close sales and start selling again when the building stands and this should be around April 2020, when the price is expected to have gone up 30 percent.
For the benefit of buyers, Lucrezia comes with a payment plan and very flexible payment structure that allows investors spread their payment for the next 18th months, and this is also attached to milestones.
The iconic building boasts such facilities as concierge services, a swimming pool, world-class gym, roof top lounge, crèche for kids, interactive lobby, full home automation, 24-hour power supply, private cinema for the residents and their guests, facility management services and top-notch security.
CHUKA UROKO
