Head of Operations, Mrs. Funlola Olomofe; MD, Mr. Wale Adedara and Marketing Executive, Ms. Ronke Adeoye, all of Edgefield Ltd
Prospective home owners and investors have been presented a unique opportunity to build or buy property in Suncity Estate promoted by Edgefield limited a leading real estate developing company in Lagos.
Officials of the company said its core focus is in bridging the wide gap in the shelter supply chain using its amazing land offer. Edgefield Ltd estate development project is in three locations namely “Suncity phase I Agbara-Igbesa, Suncity Diamond Agbara-Igbesa and City hills Ishun.”
Speaking at a media parley organised in Lagos recently, the Managing Director Edgefield Limited, Mr. Wale Adedara, gave reasons why people should invest in Suncity real estate, saying
“Agbara Igbesa is the next lekki, putting into consideration the different ongoing project by the Lagos State Government. The on-going Mile 2-Badagry 10-lane road, the construction of the train service that is to convey commuters from Badagry to Lagos Island and back which will also have a connection to other parts of Lagos after completion, and the chains free trade zone which have commenced partial operations.”
All of these projects and many more, he said were clear indications that the value of property within the axis would surely appreciate, adding that investors would be better for it afterwards.
“It has always been said that, when one waits to invest in a landed property he or she ends up not buying because as at that time the price is almost not affordable. Take a look at the current place where you reside, how developed was it some years back? What was its worth at that time and now? Investing in an offer as this might not be a bad one. The low entry point and the continuous value the property gains yearly. Using this product as a retirement plan is a right look at the right direction, as one can have an investment to fall back on.
“Planning for the future of our children is one that we must always act upon; investing in a plot at suncity is another way of ensuring the secured future of our children because over the years the property has appreciated.
“Edgefield as also made house ownership easy as prospective buyers can now own a home and pay for as much as 30 years that is you can own a home and pay for it with the same money used for paying rent,” he said.
He noted that the Suncity Scheme is an estate designed for the upward mobile people and also for the people that want to invest. We know what the financial market is saying now and we know that one of the best ways to invest is to invest in property. We have an amazing scheme that avails people to get their property and pay from as low as ten thousand Naira (N10,000); people should be able to spread the money for 30 months.
Presently, he said the company is working on the people who want to have our landed property to build and pay for as long as 30 years. They can get a loan and spread it for as long as 30 years, the interest rate is about 6 percent.
“Suncity estate has over a hundred acres in each of our estates. In phase 1, we have sold over half of what we have on ground in the estate. We are presently looking for one hundred lucky investors who would be part of the home ownership scheme for Suncity phase 2.”
He explained that for an average Nigerian, in as much as you are paying your tax and you are contributing to the National Housing Fund, the federal mortgage bank gives you the opportunity to own a property and gives you the opportunity to pay for as long as 30 years.
“Federal Mortgage bank gives loans to every Nigerian eligible for loan. Our present President is making sure the loan is working. You as an individual cannot get the loan unless through a mortgage bank but you have to access it through a primary mortgage which is where we come in,” he said.
He added, “We are moving to the phase of building houses and selling it. At Agbara presently, we are one of the fastest real estate companies. People who did not want to buy our property before are now coming back to buy properties from us.
“The world bank research says that by 2015 Lagos would be congested, so focus should be shifted to other areas in Lagos. Looking at what the governor is doing, he is trying to change focus to other areas like Agbara Igbesa area of Lagos State. For anyone that purchases property there, when the 10 lane road is constructed, based on track records on ground, you are going to be reaping about 1000 percent in the next ten years. Looking at the way property business works as a result of development in the area,” he said.
“At present, Suncity is in the market with an amazing offer in one of its estate “SUNCITY DIAMOND” Agbra, Igbesa. With just N600,000 the public can access a plot of land and also get half plot free in one of our estates, coupled with the different installment payment plan that is available.”
Olomofe added that “if one is paying outright, we give you a receipt of purchase and a deed of assignment, but if you pay installmentally, we give you receipts of all your payments and contract of sale the deed of assignment is given at the end of payment. We have global Certificate of Ownership.”