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Developer Seeks Affordable Luxury Homes The Guardian Nigeria News


The Lagos-based real estate company, MM. GMH Luxury, urged developers to ensure housing prices are affordable, standardized and reflect the economic reality of the country.

GMH Luxury Chairman and CEO Ayoolarenwaju Kuyebi gave the charge, speaking to reporters in Lagos. According to him, although developers cannot play the role of government in subsidizing house prices, they should set the prices bearing in mind that the money committed to buy houses is the people’s trust fund.

He said: “I expect that we will improve the market prices, even in the luxury market. I still think the market is overvalued and payment flexibility is the key. I want developers to improve the quality of homes and deliver projects on time as well as educate people to convert what they pay into an investment vehicle.
Subscribers are getting wiser by the day and that’s what determines deliverables, which is the end result of whatever the developer produces.

Kuyebi, an engineer, said the company has created an investment program to allow investors to invest resources in real estate constructions, which in turn will generate annual returns.

“We encourage fair investing where people can get up to 30% equity on their investment over a 12 or 24 month period,” he said.

Kuyebi has revealed plans to build 23-story luxury homes in Eko-Atlantic dubbed “Sheldon Gary” which will include a one-bedroom apartment, two-bedroom apartment, four-bedroom puppet and a penthouse. The penthouse is equipped with personal elevators.

Other features, he said, include commercial spaces, spa, business lounge, 220 parking spaces, four parking spaces for each of the units, a helipad, personal pool, and recreational facilities. such as lawn tennis and basketball court, mini market, nursery and lounge.

He explained that the project, which started in the first quarter of 2021, is being handed over to a Swedish company and would be delivered in 36 months.

Regarding the instability of the exchange rate and the impact on real estate, he said: “The first quarter of next year will be difficult for real estate companies as some projects could be abandoned due to the evolution of costs. and the currency crisis.

The forum also featured the unveiling of the company’s brand ambassador, Mr. Ninalowo Omobolanle, a Nollywood actor in Lagos. Kuyebi explained that the choice of the new ambassador was based on the need to promote the integrity and quality of its housing products.

In response, Omobolanle, who praised the company for its exceptional quality of housing delivery, pledged to create synergy to promote service excellence in the pre and post-production construction processes as well as for bring the business to the desired height.


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