DNJ Properties and Investment Ltd., has launched the 2nd phase of its Vantage Court in Lagos.
Vantage Court 2.0, which is located within Richland Gardens, Shapati along Lekki/Epe Expressway constitute semi-finished 40 units semi-detached duplexes with BQs.
One of the co-founders, and Managing Director Brand & Corporate Management, DNJ Properties, Mr. John Okoria stated that DNJ Properties and Investment Ltd is in its 3rd year of operation and already sold out Vantage Court 1.0 early this year.
He stated that the middle income group is the target market for their properties at Vantage Court.
Each unit is sitting on 90sqm and these duplexes expected to be ready by November 2020. The delivery timeline is 10-12 weeks, he said.
Okoria complained about the poor drainage system on the Lekki axis, which further aggravates the issue of flooding in Lagos. “We employed raft foundation in our buildings, which are higher than the road level, and helps to prevent flooding,” he said.
“All the water release from Shapati area, as big as it is flows to our own drainage channel, which is not big enough to contain it. “If we have estimated to spend about N22 million on our drainage channel, we now have to increase to about N40 million to widen the drainage channel. We plead with the Lagos State Government to come to our rescue and help put drainages in appropriate places,” he said.
“The mortgage system in Nigeria is another challenge as it is not yet developed. Accessing these mortgage takes about 6-8 months, of which the project is already done, we cannot wait that long to execute projects. This process slows us down and affect make some our clients to lose out on good deals,” he said.
Okoria stated that despite the pandemic, people, especially artisans still turn out to work for their survival and that of their families. “There was a time back then we had our head count and almost 500 workers on our payroll, who rely on these jobs to feed their families. We are happy to be supporting these groups as it is a win-win situation for them and us,” he said.
He stated that the semi-detached apartment featured the following; Interlocked compound; Dwarf gate and fence; Borehole and Scaffolding; Installation of exterior doors (front door & kitchen door only).
Others include; exterior painting; interior POP; plastering of the interior walls; wiring (running of the wires through the conduit in the walls); plumbing work (running of pipes, dug borehole, tank scaffolding); and 18 hours minimum power supply (no generator allowed).
A duplex unit which goes for N27 million comes with a payment plan. The payment structure is outright, six months and 12 months plan, he said.
He stated that unit(s) will be allocated after payment of at least 66% of the offer price and delivery is upon 100% payment. A Subscriber who has paid up all fees can resell, however, approval must be sought and granted by DNJ Properties for proper documentation and transfer of ownership.