• Sunday, March 03, 2024
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BusinessDay

Ivory Homes is New Year destination for mid-income buyers

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Ivory Homes, a mini-estate being developed and promoted by Lily Homes, is the destination this New Year for both investment and homeownership, especially by the mid-income earners.

Evidently, Nigeria’s housing shortfall has continued to prick real estate developers’ interest in building choice homes for the country’s growing population and are in the process wooing investors to the ever rewarding real estate market.

One of such private residential developments is the upcoming Ivory Homes, which is developed by Lily Homes, a real estate and investment company. Targeted at the mid-income earners and savvy investors, the estate is expected to deliver 18 units of neatly finished residential apartments for its first phase while other units will be built subsequently.

Situated in the Lekki-Epe corridor on a large land area of about eight acres, the well-gated estate is precisely behind Mayfair Gardens and has as its close neighbours other private estates such as the Royal Garden Estate, Eko Akete City, Fara Park, and is a walking distance to Lagos Business School (LBS).

“As with our previous projects, our aim at Lily Home has always been to provide our clients with befitting homes which they can own with seamless financial stress,” Jennifer Nwokoro, the company’s marketing executive, told BusinessDay, saying that was what they aim to replicate at Ivory Homes.

According to her, construction of the first 18 units of four bedroom terrace duplexes will commence in February with a unit currently selling for N15 million off plan on outright purchase with delivery expected in six months.

However, for clients who opt to pay within 12 to 24 months period, a unit will cost N18.5 million with an initial 30 percent payment while the balance would be spread over an agreed time.

A major advantage of the estate over its contemporaries is that, on delivery, the estate will be devoid of any congestion as each apartment will come with a spacious area for parking.

“On delivery, the estate will come with basic facilities such as well paved access road within the estate, a functional drainage system, water supply, closed circuit television (CCTV) and other modern amenities,” Nwokoro added.

By: ODINAKA MBONU