Millennials, investors in focus as Lifecard begins 1000-unit housing project

Young Nigerians and yield-hungry Nigerians are the main focus of a 1000-unit housing project being promoted by Lifecard International, a real estate marketing, advisory and investment firm in Nigeria.

The housing project, according to officials of the company, is being packaged as an off-plan property. They explained that, from research, it was discovered that off-plan sales and purchases have reduced drastically, even though it is the best purchase strategy for investors.

“From property investors and buyers, we discovered that investors are sceptical about the off-plan purchase due to delays in construction, abandoned projects, changes in property specifications, unforeseen market fluctuations, lack of transparency and integrity from real estate developers are among the common pitfalls,” Grace Ofure Ibhakhomu, Lifecard’s CEO, told journalists in Lagos.

“These uncertainties associated with these investments have made many millennials and investors have reservations in taking the leap towards purchasing off-plan properties,” Ibhakhomu added.

She noted, however, that Lifecard was turning the tide and changing the narrative in favour of the investors, disclosing that the company had systematically addressed these challenges, and becoming the first Nigerian real estate company to offer a Reserve Slot System.

She said that the System was solving the problem of traditional off-plan property purchases and paving the way for a new era of homeownership and investment opportunities through a book-and-pay-on-delivery.

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“This system provides buyers with tangible evidence of the products they are investing in, minimizing the risk of unexpected surprises. Moreover, the transparent and open communication channels maintained by the company are geared towards instilling confidence in investors, knowing that their interests are prioritized, and they are duly updated throughout the entire process,” she said.

Ibhakhomu said she recognized the importance of supporting the dreams and aspirations of investors and the millennial generation in property purchase, explaining that it was the recognition that gave birth to the Reserve Slot System

With this System, she said, a more diverse pool of individuals could partake in property investment and could thereafter go to sleep with both eyes closed, thereby creating wealth and homeownership to a wider audience.

“This is set to create a lasting impact on the real estate landscape. Lifecard International is, undoubtedly, a beacon of progress and empowerment in the housing sector,” she said.