Grenadines in mixed-housing developments to boost home-ownership



TO boost homeownership in Nigeria, a real estate development company, Messrs. Grenadines Homes, has said it is undertaking some mixed-housing developments, across the country, which would meet all classes of the market.

The Managing Director of the company, Mr. Adeyinka Adesope, last week in Lagos, said that his company was putting everything in place to deliver these products to increase homeownership of Nigerians.

According to him, Grenadines Homes, stands for luxury with a mission to advance lives through provision of best in class real estate products, it is also playing at the middle class and top end.

“Grenadines is partnering top end, middle class and speaking luxury. It should be on record that Grenadines is a part of a certain holding company, which has other subsidiaries. While one is playing at the bottom of the pyramid, the other is addressing the top end”, said Adesope.

He stated that, the company wants to do it in a different way. “Nigeria’s becoming part of the top twenty economy by year 2020 or 2025, signals a huge opportunity in the industry, but the question is how do the investors play? Are they just playing to take the opportunity in the industry or are they adding value to the industry?

“We are changing the game; Grenadines is a game changer. We are committed to ensuring that there is a paradigm shift in this industry, we want to do it in style and with difference; just giving people beautiful homes, giving our children beautiful homes, giving people beautiful environment. It’s not about the money; it’s about commitment. There’s a way you can introduce character into this space, same block, same plastering, same thing, but then, with just sitting back and saying ‘I just want this to be different’, one can do a whole lot that will be pleasing people.

On the issue that a lot of developers in the industry are into luxury development, in contrast to the financial capability of would be homeowners, Adesope noted: “As a result the their destination, investment destination of people doing oil and gas, doing all sorts, experts coming so people would have to invest and we all know that the best investment on earth is earth itself. There is need (not talking about people being homeless or people in need of shelter) the first thing is that there is a need either for investment purpose or to own a home. We are not only looking at the top end of the market, we are also looking at affordability, what people can afford. But what sets us apart is commitment to excellence. We spoke about the architect the other time, as we are engaging an internationally award winning architect for the top end of the market, so also we engage an award winning architect for the low end of the market”, he said.

While identifying some challenges facing the sector, Grenadines’ boss said there is no country in the globe today without its own challenges, adding that, challenges, if taken positively bring about the best in people. “People will talk about funding, and there are creative ways to resolve it. Just to mention, you want to talk about dearth of workmanship? You can’t believe that most of the workmen used in Nigeria are from Cotonou, Togo and even Ghana. All of these are challenges but do we want to keep just talking about the challenge? The challenges are for us to resolve.”

To Adesope, though the incursion of foreign practitioners into the country real estate industry would take some jobs off the locals, notwithstanding, he believes the opportunities in the sector are enormous for any serious player to play.

“However, we should look at it as much more beneficial to all; as developers, to prospective investors or as aspiring home owners. To investors or real estate developers what you are having is competition and competition makes you better. You know you can’t give anything to Nigerians; you can’t just come up with a design, you can’t just build an estate and people would buy it. You can do it for some years, but it’s just a matter of time, nobody is going to patronize you again because people are coming all over the world. Competition brings out the best in an industry.

“Like partnership with the government I believe that, if we want to really move this country forward all of us should be looking at partnering with the government because the government has got a whole lot of opportunities; they have land, the resources, the key to the infrastructure. So, all of us should be looking at partnering with government.

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