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LandWey announces pre-handover inspection amidst inflation – driven price adjustments on ongoing projects

LandWey announces pre-handover inspection amidst inflation – driven price adjustments on ongoing projects

LandWey, a prominent name in residential development in Nigeria, has announced its upcoming pre handover inspections for the batch of homes scheduled for delivery across its Urban Prime projects. The property firm also disclosed that it has adjusted its prices following the high inflation rate, which has impacted strongly on the prices of building materials.

A statement by the management of the firm on Thursday said the inspections, slated for between August 31st and September 9th, will pave the way for the official third phase delivery on October 28th, 2023. It further stated that the announcement underscored LandWey’s commitment to project advancement despite past delays, enabling clients to assess completed work before handover.

“We prioritise client satisfaction, as we continue to garner positive feedback from recent homeowners,” the statement added. Yet, Nigeria’s current economic climate, marked by over 27% inflation as of July 2023, poses challenges. Coupled with FX rate fluctuations and supply chain disruptions, construction costs have surged, with construction material costs rising by 54 percent.

“In response to this, we have made a strategic decision to adjust prices, striving to absorb most of the added costs. Our clients are requested to make an additional payment based on the property’s initial purchase value. This measure maintains LandWey’s quality standard and project integrity.”

In a bid to provide clarity on the price adjustment, the company is proactively addressing client questions through direct communication and a comprehensive LQ&A (Likely Questions & Answers). Despite economic hurdles and the impact of inflation, LandWey remains dedicated to delivering premier residential properties and ensuring client satisfaction. The third phase pre-handover inspection marks a significant milestone, as LandWey eagerly anticipates celebrating successful completions.

About LandWey

LandWey is a recognized leader in the residential development sector, known for its commitment to excellence, transparency, and customer satisfaction. Its projects, characterized by innovation and quality, continue to set industry standards.