Among the sectors of Nigeria’s economy where election fever and chilling macro-economic conditions are still being felt badly, real estate is a front liner which is why the property market is cooling, giving risk-averse investors cause to hold back.
However, in the midst of all these, some estate developers are still plying their trade, doing developments and offering out-of-the-ordinary value propositions that have made such developments destinations for yield-hungry investors who feel they must invest in spite of the market or the economy.
One of such developments is the one, about the latest, coming from the stable of Palton Morgan—the master-craft in luxury real estate—which prides itself as the leader, leading from the front, in the elite segment of the real estate market in Nigeria and, by extension, in Africa.
The development, known as Rockhampton Residence by Grenadines Homes, is located strategically in a highbrow part of Abuja called Katampe Extension which has prominent surrounding landmarks, making it a great option for investors to get good returns from.
Grenadines Homes, the developer of this project, is a subsidiary of Palton Morgan Holdings which specializes in luxury residential real estate developments. It has done/doing many of these developments in major Nigerian cities, especially Lagos and Abuja.
According to officials of the company, “Rockhampton Residence is evolving rapidly as preliminary works are ongoing; a contractor has been selected and he has mobilized to site, and the pre-sale formalities have been done which is why they have started selling at a discounted price.
“This is a great opportunity for prospects to key in with a low-entry initial deposit,” they said, telling potential investors that “the stage where we are with this development is where and when forward looking ones among them should key in because, after now, the price won’t be the same again.”
“The new development offers opportunity to both investors and home buyers,” the officials say, adding that it is coming as a 100-percent critical thinking of professionals with full attention to details aimed to provide a sustainable housing solution to the high demand for shelter in Abuja.
Notwithstanding that the current state of the economy could be a possible threat to investing in that project, the officials assure prospective investors and home buyers that the new development comes with great potential to yield optimal returns.
Major take-away from this development, which count for its strength, include the high demand for residential communities and the already commissioned Grenadines Resort, Katampe, a well nested private estate; the pedigree of the brand behind the project, and the developer’s partnership with the nation’s top contractors and consultants on the project to ensure value and quality delivery.
Though no longer an absolute quantity, it is said that in real estate, location is everything. Rockhampton Residence benefits immensely from this assertion being situated at a centre of the federal capital city, Abuja, which enables it to insulate the residents from traffic and congestion while accessing major districts such as Maitama, Wuse, and Katampe which are all in close proximity to the development.
“These are good reasons not only for investors to cheer, but also to believe in the project. It is a luxuriously designed residential community that focuses on sustainability by integrating man-made housing solutions into the natural environment,” Olatunji-Oladimeji, Director, Business Development at Palton Morgan, noted.
According to him, Rockhampton Residence is located just five minutes’ drive from the IBB Golf Course and the Aso Rock Presidential Villa, adding that it is framed by the iconic Katampe mountain, availing its residents nature’s mountainside ambiance, magnificent views and high ground protection.
It comes with other unique features which include a central location and proximity to town.
Describing other features of the development that set it apart from the crowd, Oladimeji said it has space efficiency, meaning that it is spacious and functional; it is close to nature being positioned on a mountainside, surrounded by mountains and green landscape, while its design is modern with contemporary architecture.
“All these are designed to provide maximum comfort, the highest level of luxury, and unique recreational facilities to the environment at large,” Oladimeji assured.
For home buyers and buy-to-lease investors, Rockhampton is just the next destination as it offers various house-types including 4-bedroom pent apartments, 3-bedroom luxury condos, 4-bedroom terrace apartments, and 4-bedroom semi-detached luxury villas.
Luxury is at the core of Palton Morgan’s developments as exemplified in its other projects such as the Skyvilla and Claren Villas, both in Ikoyi, Lagos, and Paramount Twin Towers located in Oniru, Victoria Island, Lagos.
As a matter of corporate policy and due consideration for quality and safety of investment, Palton Morgan goes for the best of contractors while assembling project partners for its developments.
It is currently working with top grade design contractors and others to deliver its promised products. All these, according to Oladimeji, are contractors with solid track records of delivering the best quality real estate products in Africa and beyond.
The choices the company makes, especially with project partners, are not aimed to impress. Instead, they are in line with its mission in the Nigerian real estate space which, according to Oladimeji, is to lead the sector in Africa with ideas and strategies that will fuel great innovations in the property market.
“Part of this mission is to build sophisticated masterpieces and create new standards for luxury living. We are overly committed to delivering quality and this commitment is not lost on investors who have recognized that Palton Morgan, as a developer, focuses on quality and on-time delivery,” he said.
He noted that Rockhampton Residence is an affordable development for new homeowners, adding that it provides a tranquil environment away from the bustle of urban Abuja and also provides luxury living at an affordable cost.
Oluwaseyi Otulana, Chief Marketing Officer at Palton Morgan, disclosed that Rockhampton was envisioned to be an improvement over Grenadines Resort in terms of accessibility, nearness to nature, interesting view of the rock, scenery, and complementary amenities.
For instance, he said, the sewage system of the Estate shall be biodigester, explaining that a bio-digester septic tank is a type of waste management system that uses biological processes to treat waste and produce biogas.
The system is a combination of a septic tank and a biogas plant, and it offers several advantages over conventional septic tanks. One of the main advantages of biodigester septic tanks is the ability to reduce the volume of waste by up to 90 percent.
Otulana, who believes that all these amenities put together will improve the quality of life of those that will be residing within the development, also disclosed that the development has its target audience.
These include male and female elites, business owners, tech consultants, top bank executives, top lawyers, CEOs, top military officers, politicians, engineers, doctors and Nigerians in the Diaspora.
“These are people that reside in places like Lagos, Port Harcourt, Abuja, Ogun, London, USA, Canada, etc whose interests range from luxury lifestyle, traveling, top quality, accessibility and ease, to best-in-class amenities, comfort, exclusivity, security, and high returns,” he said.
Continuing, Otulana said, “those in the secondary group are serial real estate investors, individuals or corporate entities who are looking to build their real estate investment portfolio, short-let investment opportunities, and existing clients.”
“Buyers can book a unit with just 10 percent down payment and spread the balance across 24 months; we are encouraging every prospective buyer to take advantage of the introductory price and the 10percent initial deposit,” Otulana said.
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