Specifically, the firm has assured prospective home owners and investors that all ongoing housing units in the estate would be completed and handed over to them before the end of 2019.
Deji Fasunwon, company’s managing director, while speaking about their milestones, disclosed that Propertymart had delivered over 85 per cent of houses across its housing projects in key cities and towns in Nigeria.
“Propertymart is a significant player in Nigeria’s real estate sector and, since 2008, we have provided real estate solutions in Lagos, Ogun and the Federal Capital Territory (FCT). Our key housing projects include Cityview Estate, Arepo; Edensville Estate, Simawa; Fairmont Apartment, Lekki; and Fairmont Hilltop, Alagbado amongst others,” he said.
Fasunwon commended clients for their patience and assured that the company was focused on its mission of assisting Nigerians to achieve their dreams of becoming home owners.
He explained that though Propertymart, like many businesses, experienced the harsh operating environment occasioned by the 2016 economic recession, it has consistently looked inwards and innovatively devised ways to achieve its objectives of ensuring clients satisfaction.
“As a company with integrity, the management refused to do what an average real estate company in such situation would do; like asking its customers to come and pay more for the houses they had subscribed to, or refund the monies received from customers.
“The company believes that of more importance is the achievement of the dreams of its customers irrespective of the challenges of the times. Rather than the company exploring the easy way out, it has decided to ensure whatever it took to deliver properties subscribed to by its customers.
“One major step taken by the company was to dispose of some of its stock trade meant to be reserved for profit in the future. These included plots of land in prime locations in some of its estates and also some of its other properties. Efforts are yielding good results as it has resulted in delivering properties to customers”, the managing director noted.
He revealed that the company was constrained to work with only a few reliable and trusted contractors to ensure quality to its customers, pointing out that the effect of this delay, expectedly, led to dissatisfaction of many of the customers who had subscribed to different products and were expecting delivery of same.
Fasunwon added that, rather than introduce new housing estates during the recession period, Propertymart focused on achieving delivery of most of its backlogs, pointing out that “this has been productive as 136 units of houses were delivered in the first quarter of 2019 and another 138 units are expected to be completed and delivered at different times in the second quarter.
He hoped that all the remaining housing units would be delivered before the end of the last quarter of 2019, noting that over 85 percent of houses due for delivery have already been delivered across all projects while over 90 percent of serviced plots sold have also been allocated.
Like other real estate firms, Propertymart has suffered some backlashes in situations that delays had occurred, and the managing director assured that the firm was always resolute in its decision to remain committed to delivering best-in-class real estate solutions to its stakeholders.
“The harsh economic climate was not strong enough reason to compromise on the structural integrity of our buildings and, as such, no cost-cutting measure was introduced on our projects. The company is glad to report that it has significantly achieved its goal as construction activities are currently at top gear in all of its projects.
“These developments are being carried out in phases for a strategic delivery to our customers. The company has also revamped its customer service unit to constantly engage its customers on the development plan and update them on the progress of their investments,” he said.
Propertymart assured clients of capital appreciation of their investment while urging those that had yet to take delivery of their houses to visit the project sites and verify the progress made on the construction of homes paid for.