For the yield-hungry investors, 29 percent annual return or yield on a N4.034 million investment in a hotel room is not only historic but also compelling at a time in Nigeria when viable investment asset class is hard to find, and that signposts a new trend for savvy investors.
This is what The Oceanna, an iconic development in Lagos, Nigeria, is at the moment offering and the promoters are inviting potential investors, especially those with long term view of the property market, to be part of history own a luxury hotel room with high return on investment.
The Oceanna Hotel Apartments is more than just a location; it is the portal to a plethora of opportunities and experiences and a shift away from the box to something more organic and more natural. This explains why the return on investment is one of a kind.
Despite all the hidden and latent charges that characterize real estate transactions, investors are still sure to take home up to 2 percent monthly or 24 percent yearly return on their investment.
The investment journey to The Ocenna Hotel begins with subscribing to a studio unit or a Lot, to earn a lifetime stream of increasing income which is estimated at 29 percent or to live-in.
With this, the Developers are pioneering a new trend whereby the apartment will be operated by a world-class hotel management brand that would deliver high yield on the investment. A seamless transition to upscale living is assured and there will be no maintenance obligations, repairs, dealing with agents and no yard to maintain.
Again, investors get shortened payback period as the Hotel Apartments offer 7-8 years post construction payback period based on an average yield of 14 percent while investments in typical real estate assets offer between 17-20 years payback period based on yield of 5-6 percent.
By this arrangement, the investment opportunity is open not only to Nigerians at home and those in the Diaspora. A Central Bank Of Nigeria (CBN)report puts remittances by Nigerians in Diaspora at $22 billion which experts say could have been more because these are ones captured by the apex bank.
It is estimated that 10 percent of these remittances was invested in real estate. More of these funds would have gone into real estate if asset quality and trust issues which have been a major challenge in Diaspora investment in Nigeria had been resolved, said Olukayode Olusanya, the Oak Homes CEO, whose company was in London recently to woo Nigerian investors to invest back home.
A novel property investment opportunity with rare facilities overlooking ocean, The Oceanna is the most iconic development done with lightness and elegance, offering investors and homeowners the opportunity to live, work and play, while harnessing the advantage of great returns on investment.
The project prides itself with a tapestry of diverse top professionals in architecture, engineering, interior designing, brand & marketing, hospitality, costing, finance and construction.
Designed by HOK Architects, the designer of Dubai Marina, Emirate Stadium and The Flames of Azerbaijan, the Oceanna was Branded by Brash Brands, the creative branding agency that breathed life into the world’s tallest building, Burj Khalifa in Dubai.
Situated in Water Corporation Drive, off Ligali Ayorinde Street, Victoria Island, Lagos, The Oceanna is beauty set to redefine the skyline of Lagos and consists of four towers; two mixed use and two residential blocks in its first phase.
Its build quality, stunning features and strong value proposition easily lends to savvy investors. This is a place where the air is wild and free; it is a little haven built just for living, working and playing.
The Oceanna is a rewarding investment with excellent re-sale value and high yield. The scarcity of oceanfront properties allows it to retain value over a longer period as compared to properties in the city hub.
CHUKA UROKO
