Buoyed and guided by a new project philosophy that favours compact, comfortable and convenient spaces, Eximia Realty Company, a young real estate investment and development firm, has set out to build a moderate estate targeted at first time home buyers and millennials.
Known as Fiona Lawton Apartments, the moderate estate which is a truly gated community, also targets empty nesters and investors with its market (demand)-conscious typologies, including studio, 1-bedroom, and 2-bedroom apartments.
Increasingly, developers are embracing size reduction in their developments in line with not just economic realities but also global practices as reflected in such cities as New York (39 square metres) London(46 square metres) Paris(36 square metres) and Hong Kong(15 square metres)in the last few years.
Fiona Lawton Apartments’ small-size units offering is consistent with developer’s objective to to deliver real estate solutions by addressing emerging living models tailored to contemporary urban lifestyles.
“The general trend of urban dwelling in leading cities across the globe since 2011 is that ‘the era of mac-mansion is gone’. With land in limited supply, construction costs spiraling out of control and the necessity to optimize living and maintenance costs, it has become inevitable to re-engineer home design and construction to achieve maximum efficiency,” explained Hakeem Oguniran, Eximia Realty’s CEO, at the ground breaking, signaling the commencement of construction of the estate recently.
Ogun revealed their deduction from empirical analysis that there was a reasonably significant market for micro apartments designed to suit the Nigerian lifestyle preferences in Lagos and a few other cities.
“We are, therefore, set to tap into that opportunity through our ‘uniquely crafted living spaces’ based on the concepts of ‘compact, comfortable and convenient dwelling’,” he assured, adding that the dwelling units speak to the needs of discerning investors, empty nesters and young, upwardly mobile professionals and families who loathe commuting but are willing to trade size for proximity.
Fiona Lawton Apartments, located in the burgeoning Lekki axis in Lagos, is designed into gated communities of between 48-60 small-size apartments, and the developer said they were set to launch similar developments in Surulere, Ilupeju, Yaba, Ikeja, Ogba and Ikoyi in the next few weeks and months.
Oguniran disclosed further that they have created what he called ‘Home Ownership Ecosystem’ to complement their developments and also to tackle both supply and demand sides of housing delivery.
“To this end, we recently launched Kyrious Real Estate Multipurpose Society to ease the burden of home acquisition and financing for potential home owners; needless to say that we are greatly encouraged by the market acceptance of Kyrious and Fiona Lawton apartments – our first foray into our defined market segment,” he said.
The estate which promises lots of greenery, walkways, car parks for all and some guests, has payment plans that are available and tailored to each client. Its features include playground for children, communal lounge for adults, biofiland water treatment plant, wifi, laundromat, CCTV, and controlled access.
CHUKA UROKO
