Authorities of UAC Property Development Company (UPDC) Plc have said that, with the launch of their new estate in Lagos, they have brought excitement and opportunity into the property market for land buyers and investors.
The new estate, known as Pinnock Prime Estate and located in the Lekki area of Lagos, is coming on the heels of the company’s earlier development called Pinnock Beach Estate which, the company said, was a huge success.
Odunayo Ojo, UPDC’s managing director and chief executive, explained in a statement at the weekend that Pinnock Prime Estate was a site-and-service scheme planned as a residential destination of choice within its location.
He hoped that the development would create a new benchmark for suburban living as a prime, secure and close-knit enclave, setting standards measurement for premium quality homes.
Ojo explained further that under the new scheme, UPDC would develop an expanse of land measuring 1.47 hectares that would yield 18 serviced plots, each measuring 500 to 1000 square metres.
He assured that the new estate would benefit from UPDC’s track record of delivering excellent development control guidelines in line with the company’s value proposition.
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“Our new estate will be delineated along the lines of high and low-density plots. In the high-density area, 5 plots will be allotted in a format of 5 – 7 housing units per plot, depending on their sizes. In the low-density area, 13 plots have been allotted to be developed based on a maximum of two housing units per plot. Buyers will be allowed to develop detached and semi-detached houses, terraces and apartments in line with approved building guidelines,” Ojo said.
Recreational facilities in the estate are designed to reflect quality lifestyle and these include parks with a play area for children and tree-lined streets with beautiful landscaping.
Infrastructure planned for the estate comprises underground power supply systems including a dedicated transformer for stable mains supply. There is an internal road network with cycling lanes, walkways for pedestrians and drainage channels to evacuate flood water.
Potable water supply will be derived from an industrial borehole that is enhanced with water treatment and storage facility. The streets are to be adorned with overhead streetlights, fence lights to illuminate the estate and the surroundings, providing incredible security.
“This is a fully gated and secured estate with gatehouse, secured access and signage. There is a sewage treatment plant and enough parking spaces for residents and visitors alike,” Ojo assured home buyers, adding, for effectiveness and quick response, we have brought nearer to the residents a facility management office and its crop of maintenance staff managed by UPDC Facility Management Company.
UPDC is the largest publicly quoted property development company in the country. It is involved in asset management, development management, facility management and property development in the real estate sector.
Within the residential segment, it is investing in site-and-serviced projects as well as property development projects from premium low-income to medium-income housing products.
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