GText Homes plans 1,000 houses by 2035
… invests N20bn in 20 estates this year
GText Homes, a leading real estate conglomerate, has unveiled plans to build 1,000 housing units in 200 estates across the country, as well as 25,000 green and smart homes by the year 2035.
The 15 years expansion plan is commencing this year with an estimated N20 billion investment, aimed at adding another 20 estates to the existing 20 and boosting its housing portfolio to 40 estates this year.
With the investment, the real estate firm has acquired 10,000 hectares of land and hopes to create about 5,000 to 1,000 jobs and 2,000 indirectly and directly, and also help in reducing the housing deficit in Nigeria.
Speaking on the plans during a media parley, which held at the real estate firm’s office in Lagos recently, Stephen Akintayo, managing director/CEO, GText Homes, noted that the real estate firm is actualizing the ‘smart city’ dream with the building of smart/green estates that are climate-friendly, and will be using technology to drive the project.
Moreover, it plans to use the waste generated within the estate to generate electricity, while ensuring zero-emission.
The indigenous real estate firm has also opened an office in Dubai while intending to have operational offices in the United Kingdom and the United States of America this year.
The Dubai office, according to Akintayo, is an independent subsidiary called GText Dubai, which handles its real estate business in Dubai.
It is also partnering with several companies, which are coming on board to bring in their own buyers and clients that would be interested in investing in its property.
Akintayo also assured investors of good returns that would add value to their investments.
The MD/CEO also stressed the importance of the real estate sector saying, the company recorded success as Nigerians in the diaspora patronised the company during the 2020 pandemic year, as the company leveraged the power of technology to excel in marketing and sales of its products.
He pointed out that real estate investment is where to go because of the appreciating financial value of housing.
The GText Homes CEO also disclosed that apart from the real estate business, the firm is diversifying into agriculture, particularly in the food processing sector, which is vital in preserving perennial crops.
In line with its investment in agriculture, the firm has bought several hectares of land at Ibeju Lekki in Lagos, Ijebu-Ugbo in Ogun State and Osun State for farming with GText Farms subsidiary handling the operations.
According to him, GText Farms would give grants to people in that sector, while using locally made processing plants and machines for its operations. “We intend to also set up a coconut refinery plant to boost food processing in the country”, he said.
On corporate social responsibility, Akintayo said his company gave back to the society with about four grants in some sectors it observed the players needed financial support such as education and agriculture with some beneficiaries getting N500,000, others N300,000, as well as, payment of tuition fees for 100 children.