Real estate firms launch Eko Beach City, assure on affordability
The trio of Riel Homes, Gidi Real Estate Investment Limited, and Koen Homes excited the property market recently with the unveiling of Nigeria’s first green and aqua real estate which has a beach and a lake.
Kolade Adepoju, managing director/CEO of RIEL Homes described the new development which sits on 400 acres of land as a city, not an estate..
He disclosed that all the partners in the project felt that collaboration was more important than competition, adding that it was better for them to work together to create something that will resolve the crisis in the country’s real estate sector.
“Here, we will have a golf hub, a helipad, and a commercial hub, among other facilities,” Adepoju noted.
“One of our slogans is that from Eko Beach City, nowhere is far, and by the time this site is completely operational, we will have a helicopter stationed to transport people to their destination if they are residents of this city,” he added.
Akerele Tobi, CEO of Gidi Real Estate Investment Limited, explained in his address that Eko Beach City was the only residential development in Lagos or in Nigeria that would feature both a beach and a lake.
“The most significant of these is the healthy environment we are promoting,” he added.
He quoted the Lagos State Environmental Protection Agency (LASEPA), which said that “22,500 children died from air pollution in Lagos last year,” assuring thst they were now planting roughly 5,000 trees in Eko Beach City to get cleaner air.
Furthermore, Tobi stated that unfavourable economic conditions and government policies were among the factors contributing to Nigeria’s huge housing deficit.
“Being able to process land titles with the government as swiftly as possible will help us a lot,” the Gidi CEO stated, hoping that “once the economy improved, individuals would be able to afford shelter.”
He noted that one of the possibilities in Eko Beach City, was that buyers don’t have to break the bank to afford a healthy environment.
Furthermore, Ayorinde Ejioye Isaac,
COO, Gidi Real Estate & Investment, noted that Lagos was becoming an industrial hub with a lot of enterprises like Dangote refineries, Dangote Fertilizer Plant, and other commercial sites being constructed.
“This can result in the emission of a lot of carbon into the atmosphere, and we need to start living sustainably in Lagos. That is why this project seeks to plant 5,000 trees to make the city cooler and cleaner,” he said.
Ejioye noted further that the private sector was what drives Nigeria’s economy, and real estate is a major participant in that sector.
“What Eko Beach City seeks to accomplish is adding to the Nigerian economy’s gross domestic product (GDP) through affordable housing.
“However, to assist the real estate business with funding, the government should, through the Central Bank of Nigeria, give mortgage so that clients can buy a property and pay for 10 years.
“But the real estate company would have funds to continue their initiatives.” We will bridge Nigeria’s housing gap in this manner,” he assured.