• Tuesday, June 18, 2024
businessday logo


Developer opens opportunity for investors with good RoI on buy-back package

Developer opens opportunity for investors with good RoI on buy-back package

Investors looking for where to put their money to hedge it against inflation and at the same time get good returns need not look further as Richland Property and Homes is offering such investors opportunity to invest in their land banking package and get the best out of that.

The company is assuring that prospective investors can invest in this package in any of their estates and get great return on their investment (RoI), ranging from 20 percent within a 12-months period to 65 percent in 24 months.

“What this means is that when you invest in a certain square meter of land in any of our estates and hold it for a certain period of time, between 12 to 24 months, we re-buy or buy-back from you and pay you both the capital and interest,” Ifeanyi Nwachukwu, the company’s CEO, explained.

Nwachukwu spoke at a press conference with select property editors in Surulere, Lagos, recently, disclosing that, as a company, they were open to joint venture arrangement with other players in the real estate industry.

He said that through their diverse networks in the industry, they have helped Nigerians to discover affordable properties in fast developing areas across the country and also helped to acquire them.

Though they have footprints in other parts of the country such as Enugu and Ogun states, Richland Properties operates largely in Lagos with high concentration of their developments in the Ibeju Lekki area of the state.

Nwachukwu said that the choice of Ibeju Like was very clear, explaining that the area is today adjudged one of the fastest growing not only in Nigeria, but also in Africa. “As many of you are already aware, Ibeju Lekki is a rapidly developing area distinguished by its immense potential for investment and development,” he pointed out.

Continuing, he said, “the area is fast becoming a choice area for many enterprising Nigerians to locate their homes and businesses. It is strategically positioned to benefit from various government initiatives and infrastructure developments, such as the Lekki Free Trade Zone, Lekki Deep Sea Port, etc., and other industrial projects already springing up there.”

He noted further that the area is also home to the Dangote Refinery with its vast network of business activities and thousands of staff, adding that the zone also harbours several ancillary businesses that usually spring up wherever petrochemical industries are sited.

The developer assured of safety of investment with Richland Properties, recalling that since they opened for business, their clients could testify that every property purchased from them was 100 percent safe.

“In keeping with our guiding vision, our clients do not need to be moneybags to acquire any of our properties. We have a very client-friendly payment arrangement whereby people can pay by installments that are very affordable to many Nigerians,” he said.

He assured too that their properties were safe with good titles that are government-approved, ranging from registered surveys, gazette, certificate of occupancy (CofO), Governor’s Consent, etc.

He disabused minds and allayed fears land buyers usually have about Omonile and delayed allocation of land after payments have been made, saying “Richland Property and Homes ensures physical allocation of properties purchased from us immediately.

In fact, once payment is made, allocation will be done immediately. And what we are selling is not just any property, but we offer our clients standard and smart estates with beautiful features.

The problem of Omonile has been a nightmare to many prospective property owners. But, in our case, we take the trouble of the Omoniles off our clients and totally shield them from their menace.”

Though Nwachukwu assured that, at Richland Property, they create wealth by empowering enterprising individuals, especially, young people, who they have helped to earn passive income through real estate, he was not unmindful of the present parlous state of the economy, especially at the macro level.

He pointed out, therefore, that the real estate sector was not, by any means, insulated from the challenges thrown up by the rising cost of materials and services, hoping that the government would come up with interventions that would boost their efforts at helping more Nigerians become happy home owners in line with their vision and mission.

He commended Lagos State government for making conducting searches on lands and processing titles easy for real estate companies and buyers. “Today, in the comfort of one’s office or home, one can conduct adequate searches on any property and even start processing the title documents from there. This is a good initiative that benefits the real estate industry,” he said.