A real estate company, Richfield Lagos Limited has said it introduced a housing development strategy known as The Portfolio to provide affordable housing.
Officials of Richfield Lagos, a subsidiary of The Landwey Group, said they have taken upon themselves the mandate to meet the need of the average person in terms of shelter.
The goal of the company, according to a statement, “is to help individuals own properties at very affordable prices. To make this achievable Richfield Lagos is introducing to the public The Portfolio.”
The company plays within the commercial and retail, as well as the residential property segment of the real estate industry. Some of the services of Richfield Lagos include, real estate advisory services, sales, marketing and development.
According to the company, “The Portfolio is a scheme made available to individuals who wish to own a piece of property in Lagos, Nigeria through flexible, attractive and secured real estate investments.
“The Portfolio process is overseen by Richfield Lagos as the sole administrator and there is no administrative fee involved,” adding that the scheme offers land for sale to buyers who could resell after completing their payment for either a 300sqm or 600sqm.
“To start out on The Portfolio, one is expected to make an initial deposit of N150,000 which secures a 50sqm plot. A subsequent installment is to be determined by the subscriber (buyer) over a period of five years.”