Real estate firm set to curb housing shortage

In an effort to address Nigeria’s housing shortage, Fab Realty, a real estate company based in Nigeria, has allocated land to investors at Freedom City Estate in Epe, Lagos.

During the recent allocation exercise, Ayomikun Adebayo, managing director of FAB Realty, highlighted the severe housing issues in Lagos caused by population growth, with more than 500,000 people relocating to the city annually. Reports indicate that the country already faces a housing shortage of over 17 million units.

Adebayo also emphasised that Freedom City Estate, which is still in its development stage, offers a convenient location near an economic hub while providing a serene and peaceful living environment. She encouraged Nigerians to seize the opportunity to secure their own plot of land, considering the potential of the area as a major commercial center.

Addressing the new landowners, she assured them that their investment would appreciate in value, underscoring the company’s commitment to providing quality and affordable housing options for Nigerians.

“This investment will definitely keep appreciating in value. This estate is our latest effort towards bridging the housing deficit in Lagos and offering our customers an affordable lifestyle option,” she said. “We understand the challenges in Nigeria, and we are committed to providing viable solutions”.

In January, President Muhammadu Buhari visited the Lekki-Epe area of Lagos to inaugurate significant projects, namely the Lekki Deep Sea Port and a Rice Mill. These projects, situated within the Lagos Free Trade Zone, hold great importance. Additionally, the construction of the 18.75-kilometer Eleko-Epe rigid pavement six-lane expressway, which was also commissioned by the President, further solidifies Epe’s position as the emerging face of Lagos.

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According to Adebayo, these infrastructure developments have transformed Epe into a highly desirable location for real estate investments. Its proximity to Lagos’ economic hub, coupled with the convenience offered by the new expressway, makes it an attractive prospect for property investors.

Furthermore, the allocation of land in the new estate has left customers delighted and eager to construct their dream homes. One customer expressed their satisfaction, stating, “Today’s allocation is a thrilling opportunity, and I am genuinely pleased. This process demonstrates that when you purchase land, you can expect an allocation. I am impressed.”

Situated in Epe, Freedom City Estate offers residents unique features and amenities that have positioned it as a prime choice for prospective homeowners and investors seeking to capitalize on the area’s economic prospects.