Megamound Partners Lagos to Deliver Affordable Housing

Bennett Oghifo

Leading real estate development company, Megamound Investment Limited, which recently marked its 28 years anniversary, is partnering with Lagos state government to close the huge deficit in the housing sector. The partnership is Megamound’s first joint venture with Lagos State government to address growing housing concerns around the country. The successful private company is fondly known with exquisite and choice homes that appeal interests of its clientele across the country. Near to three decades, Megamound has carved a niche for itself and became industry de facto in the areas of construction, real estate development, management, dredging and allied businesses.

Precisely, the time-tested firm that boasts a bevy of elegant housing products on its stable is presently giving rapt attention to its Greater Lagos County Apartments located in Surulere and Willcrown Apartments located in Ikota corridor of Lekki. In the former, Megamound is partnering with the Lagos State Government through its agency, the Lagos Building Investment Company (LBIC) to build 1, 2, 3 Bedroom private residences of sizes ranging from 43 to 135 square meters. The Greater Lagos County Apartments is a multi-floor development driven with elevators that are designed exclusively for those who desire a truly unique social environment. According to the firm’s Head of Sales & Marketing, Marian Ofen-imu, “Each apartment incorporates a distinctive design with modern innovation to create homes with unique settings of spacious living. Some major selling points of the apartments are beautifully conceived interiors, good and functional infrastructure and a serene environment”.

The other project, Willcrown Apartments is located in the secluded and secure Kingsbay Estate in Ikota, 5minutes drive away from the imposing Headquarters of the Chevron oil company and the 2nd Lekki Toll Gate. The estate location is a breezy, ocean- bathed stretch of territory carved out of the famous Kingsbay Estate. The distinctive features of the 100-unit estate includes uninterrupted 24 hours electricity supply from different sources such as standby generators and solar inverter. Each apartment is wired to a Central Water Heating System and Wifi/ Internet facilities, DStv Satellite connection, among others. Willcrown Apartments blocks are on 3 floors and comprise variants of 1, 2 and 3 Bedroom house types.

For the pricing, each unit of 1-bedroom apartment attracts a minimum price of N22million, 2-bedroom, N32.5 million and the 3-bedroon N42 million at Greater Lagos County Apartments. While each unit of 1-bedroom accommodation in the Willcrown Apartments attracts a minimum price of N24 million, 2-bedroom N38.7 million and the 3-bedroom N45.4million. A downward payment of 20 percent to secure an allocation while the balance may be paid by installments according to the elected payment plan.

Mortgage facility can be accessed by prospective buyers for a 7-year tenor for Greater Lagos County Apartments and 10 years for Willcrown Apartments.