A real estate firm, LandWey Investment Limited and PiggyVest, an online savings and investing company, have introduced an affordable land acquisition scheme aimed at enabling low and mid-income earners to realise their dream of premium land ownership.
With the high rate of housing deficit in the country, occasioned by multiple factors, including high cost of land, inadequate access to finance, slow administrative procedures, among others, the scheme was expected to allow anyone interested in owning land to begin by making per square metre payments through gradual savings with PiggyVest.
Speaking at the unveiling of the scheme in Lagos, the Founder/Chief Executive Officer of LandWey Investment, Mr. Olawale Ayilara, stated that accessibility was central to any conversation about bridging housing deficit and enabling land ownership in Nigeria.
“The purpose of the partnership bears in mind that people save for several reasons, and on a trusted platform such as Piggyvest, people can take little steps and buy real estate as either an investment or to be built in future.
“There has also been huge demand for land, in fractions, and with a platform like Piggyvest comes an advantage to access and own a piece of 100 per cent genuine property,” Ayilara said.
He assured that the lands that would be available would undergo proper soil test to guarantee its safety for development, and that such lands would have been confirmed to have genuine property documents before they can be allocated to a buyer.
Also commenting on the scheme, the Chief Executive Officer of PiggyVest, Mr. Somtochukwu Ifezue, described the partnership as a highly remarkable one.
According to him, the two brands came together to ensure that everyone, especially young people, own a piece of land as little as one square metre with very small amount of money.
Ifezue added: “The initiative creates entry paths for virtually any Nigerian within low and mid-income bracket to actualise their dream of premium land ownership. By means of a saving scheme with PiggyVest, subscribers can begin their journey to land ownership by making per square metre payments for their land, and getting to full-on allocation after having made payments worth a minimum of a-300 square metre lot.
“We are truly excited about the relief this scheme will bring to many Nigerians. It brings us so much satisfaction to drive this customer-centric solution in hands with LandWey, to make land ownership for Nigerians an attainable dream, regardless of income level.
“With this scheme, virtually any Nigerian can live their urban dream by taking gradual steps towards acquiring land in square metres, whether for habitation when it amounts to 300 square metres, or for investment purposes after your investment has gained appreciation and can be resold.
“We all know that land keeps appreciating, and so, continuously waiting for lump sum to invest in real estate might make this dream become far-fetched, and so this initiative is driven by demand.
“When the most trusted name in real estate and savings platform collaborate, then you can be rest assured that this is going to be the most authentic, reliable entry into real estate investment that cuts across class or income strata.”