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Developer assures buyers of enhanced affordability, offers low-rate mortgage option

Developer assures buyers of enhanced affordability, offers low-rate mortgage option

A frontline real estate developer has assured home buyers of making his houses all the more affordable by offering mortgage option at 7percent interest rate per annum. The mortgage facility is to be provided by the federal mortgage bank of Nigeria (FMBN), the country’s apex mortgage institution.

The developer, known as Legrande Properties Development Company Limited, also assures that, going forward, those who will buy the houses they are building and selling will have no need to worry about rising energy cost as it is perfecting plans to introduce solar energy in all the houses.

Babajide Durojaiye (a Deacon), the managing director and chief executive officer of the company, gave this assurance after receiving Excellence Award from EOM Business Network at a moderate ceremony in Lagos recently.

The award, according to the business network, which is an arm of Silverbird Television, is in recognition of the company’s contribution to the development of humanity, improvement of the environment and job creation.

“We are pleased to honour this great citizen of Nigeria—a man who has done well for himself in pursuing his personal goals and aspirations, and also in impacting families by employing people in his business.

He has contributed to the development of Lagos State in particular and Nigeria in general in his quest to carry out corporate social responsibilities through meeting his tax obligation to government and improving the environment,”Elkanah Mowarin, executive director, EOM Business Network, said while presenting the award to Durojaiye.

Mowarin recalled the impact of economic recession of 2016 to 2020 and Covid-19 of 2019 t0 2022 which led to the collapse of many businesses in Nigeria, yet “some dogged companies were able to weather the storm and we make bold to say that Legrande Properties is among that weathered the storm amid challenging operating environment.”

He added that the company did not only survive this period, but also recorded significant milestones in terms of growth, expansion and adding value in its area of specialization, providing choice houses and other real estate services to Nigerians.

“For these reasons and more, we present this distinguished ‘CEO Honours Award for 2023 to the Deacon, John Babajide Durojaiye, Founder, Executive Chairman, Group Managing Director and CEO of Legrande Properties Limited, one of the frontline real estate firms in Nigeria,” Mowarin said.

An elated Durojaiye thanked Mowarin and his team for the award, stressing that the award would spur them to do more for their existing and intending customers by offering them more value for their money.

He disclosed that they were discussing with manufacturers to develop TVs, ACs and other home appliances that are solar-based, explaining that they were introducing all these in order to promote our products and enhance their affordability.

Read also: Why Abbey is destination for mortgage loan seekers, home buyers—CEO

He disclosed further that they were aware of the cost-implication of introducing the solar option as, according to him, the components would bring additional cost. “But we are looking at the economy of scale. We are going to deal with larger scale and not at retail level. The people that deal on these products are also going to work with us in order to bring the cost down,” he assured.

He explained that with the solar option, there would be 24hours light for occupants of their houses at Alexandra Court—their new estate in Ibeju Lekki, assuring that what they are putting together there are smart homes where owners could monitor their houses from their hops or offices miles away.

“These are the levels we are looking at and that exactly is what we call smart homes. In such homes, there is nothing like emergency,” he enthused.