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Property acquisition: Developer pampers young buyers with low prices

In what it calls democratizing property acquisition, a property development and investment firm, Bolope Investment Limited, is offering young people opportunity to acquire property without financial stress.

To do this successfully, the firm, at the weekend, launched two pocket-friendly estates, both targeted at these young Nigerians that, it believes, do not have a lot of money to buy what the market offers.

It is offering a plot of land for N1.5 million which is the total package, including documentation, legal fee, etc. But the good news is that the company requires just N450,000 from the buyer for a start and pay up the balance in six months.

Another good news is that a buyer who wants a full plot but does not have all the money is allowed to start with half a plot and upgrade to full plot as his income improves. In this case, what the company demands from him for a start is N250,000.

This means young people who desire to own homes can start the journey with the firm by investing in their land in the two estates, namely Lighthouse and Overview Courts, which are located in Epe, a Lagos suburb that boasts good road infrastructure.

“We designed the estates with young people who do not have plenty of cash in mind. This is because, from our research, we have realized that property acquisition is a prestige only for a class of persons and we are saying that the narrative needs to change,” said Opeyemi Aladetola, the firm’s MD/CEO.

Aladetola, who spoke at the launch of the estates, explained that, in ensuring that the narrative changes, we have decided to get affordable lands that young people can plug into. We believe this actually meets that need and we hope that young people takes that opportunity.”

Bolope believes that housing is a global problem which is why the deficit in Nigeria should be of concern to everybody. Housing will forever be a problem, according to the chief executive, pointing out that it is a recurrent problem which government alone cannot solve, hence private sectors like Bolope come in.

“Our products are quite affordable, and we have ensured that the prices will remain affordable for those people who are otherwise excluded from property market. We realize that we can actually bring them in to ensure that housing deficit is reduced in the country,” he said.

Kola Olugbodi, a pastor and chairman of the company, affirmed the view that housing will always be a challenge, noting that government alone can never meet the demand.

He noted that many of the properties young people are enjoying today are the investment their fathers made, arguing that, “if they also invest now, their children’s children will talk about it, saying, see what my father did.”

He, therefore, encouraged people to patronize Bolope Investment, more so as their prices are really affordable and they will help buyers to plan in a way that, without breaking the bank, they can always afford any size of property they desire.

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