Besides location and infrastructure, return on investment (ROI) is another catch-word frequently cited by real estate products suppliers as a major value proposition for potential investors and home buyers.
For regular investors, especially the types called portfolio investors, the great story they always wait to hear on a real estate project, big or small, is how much comes back to them from their investments.
This explains why, almost always, products suppliers put forth figures that can hardly stand the test of time unless supported by features and facilities that drive interest and, at the same time, raise value propositions.
Masters of the game know this and so, go the extra mile to plan their developments in such a way that they become too compelling to ignore by both portfolio investors and astute/savvy investors who have short- and long-term views of the property market.
The growing sophistication of consumers of real estate products, whose taste and class have also changed significantly, demands that developers or products suppliers have to scale up their value propositions along with their kind of offerings.
Increasingly, many real estate developers in Nigeria are catching this bug and the country’s burgeoning market is the better for it. One of these forward-looking developers who, by action and utterance, has proved to be a master of the game, is Propertymart Real Estate Investment Limited.
Propertymart is the developer of The Meadows also called Lagos Meadows. It is a subsidiary of a thriving game master—Palton Morgan Holdings —which, according to Nidal Turjman, the Group Chief Operating Officer (GCOO), is a new definition of luxury and modern architectural design.
Palton Morgan, as a brand, is said to be running at the forefront to build top-quality projects that will set a standard in the real estate sector in Africa. It commits itself to revolutionary ideas and strategies that fuel great innovations within the Nigerian property market.
Propertymart is an old and new story at the same time. It is ancient and modern. Though it is a subsidiary of the Palton Morgan Group, it predates the group and this is not lost on the estimation of the group and its management.
“I can confidently say that only a few companies in Nigeria have come as far as Propertymart has come. Looking at the entire group, by my last check, we have close to 7,000 families that have benefited from the housing and land schemes we have sold and delivered to different customers.
“Many of them bought from our serviced land and I can tell you that this is one of the ways through which the housing deficit in Nigeria can be resolved,” Turjman noted.
It is, therefore, no surprise or accident that The Meadows by Propertymart has entered the real estate market with value propositions which, close market watchers say, are reflective of a standing tradition and thriving culture of commitment to quality architecture.
The Meadows promoters give it away as a sanctuary where architecture meets nature, offering early bird investors a whopping 40 percent return on investment. This offer is quite remarkable given that, besides Student Housing which offers investors over 20 percent ROI, no other market segment comes close to that.
Empirical evidence shows that most residential developments offer between 4 percent and 6 percent yield and that even depends on how attractive or otherwise the location of the asset is. It also depends on the quality of infrastructure the development enjoys. Commercial developments do better at between 10 percent and 12 percent, according to the empirical evidence.
The Meadows follows from other iconic developments by Propertymart including Citiview Estate, Arepo; Fairmont Hilltop, Alagbado; Mitcheville Estate, Lokogoma; and Cranbel Court, New Makun City which, in their own right, are major openers or pace-setters in their respective communities.
The Citiview Estate, for instance, remains a positive turnaround in the economic fortunes of Arepo in Ogun State where it is located. Until Citiview Estate happened, Arepo was a sleepy community that investors avoided. The coming of Propertymart is the reason for the community’s new story today.
The Meadows is one of Propertymart’s newest projects in Ibeju Lekki, Lagos. It is set to redefine what luxury meeting serenity looks like, and promises to be an investor’s gold mine by reason of its location in what has come to be known as ‘New Lagos’.
Besides its sought-after destination, this development also offers prospective residents a zone where commercial activities can thrive. Its proximity to Eleko Beach, Nike Art Center and the Lekki Conservation Center, makes it the center of action. It is expected that foot traffic for businesses in this region will be high.
According to Hakeem Bakare, General Manager of Propertymart Real Estate Investment, The Meadows is designed to specifically cater to human housing needs and provide an opportunity for investors to secure an alternative source of genuine and profitable income.
“The Meadows as a smart green community will help address climate change, pollution, and protect biodiversity. In addition, it is located in a high-demand area close to many ongoing developments in the Lekki Free Trade Zone. This strategic location makes The Meadows not only a serene community, but also an environment that commerce thrives in,” Bakare explained.
Consistent with modern development where environmental sustainability is a major consideration, Palton Morgan has also considered how best to utilize renewable energy technologies in making highly-efficient, sustainable homes available to the property market, for both residential and investment purposes.
Bakare revealed that The Meadows satisfies this need as well as improves environmental quality, addresses climate change, and reduces development impacts on natural resources. “The Meadows will help to conserve resources (energy, water, waste), prevent pollution, and reduce emissions that cause climate change,” he assured.
As a green community, The Meadows boasts energy-efficient residential units designed for comfort, practicality, and contemporary style inspired by its resort lifestyle. It offers a real escape, a getaway that is still amidst the hub of all the services and utilities.
“What we have on offer are serviced plots that are smart, connected and secure. Residents will enjoy some of the fastest internet speeds available in Nigeria, as well as access to Free-to-Air and Pay TV, without the need for antennas or satellites. Electric car charging stations, solar lit streets, and piazzas, WiFi points and Internet of Things (IoT) systems will be made available,” Bakare assured further.
According to him, The Meadows will house estimated 4,000 residents in about 1000 homes which will feature walkways, jogging and cycle tracks, playgrounds, green areas and a captivating landscape gym, swimming pools and much more. It is designed as a luxurious, yet affordable, residence, wholly developed to accommodate loved ones in a safe and secure eco-friendly community.