Developer begins construction of Excellence residential estate
A 36-month construction period has been set to deliver a brand new residential project, known as Excellence Estate, located close to the Journalists Estate, Arepo, off Lagos-Ibadan Expressway, Ogun State.
An indigenous developer, Messrs. Inclusive Concrete & Engineering Limited, is undertaking the project, which boosts of quality and taste.
Speaking on the project last week, Managing Director of Inclusive Concrete & Engineering Limited, Mr. Misbau Opeyemi Aminu, an engineer, said that construction work, who hinted that his company had acquired 20 acres of land, said the project would be delivered in three years and prospective investors would get a great payback deal on construction cost.
According to him, the residential estate is a combination of horticulture and aesthetics. It comprises homes that are fully detached, semi-detached, terraces, and block of flats.
The estate is subdivided into two; the built-up area, which is about two- thirds of the land, and the site and services plots that form about one-third of the land, he said.
He stated that the built-up area would be strictly regulated and fully designed. “This property is sold either as a building or acquired land, which is developed to stated regulations and design.
The other one-third, according to him, affords the buyer coming up with personal designs”, said Aminu, who assured that his firm would bring its wealth of experience in various field of construction in both the public and private sectors to bear in development of Excellence Estate.
Reassuring the would-be buyers, Aminu said, the structural elements of these buildings are not negotiable, “The regulation will begin from foundation, frame structure, slabs, among others, in order ensure the security of the buildings,” he said.
He stated that the entire estate was service-driven, and so its pristine nature is not negotiable. “The horticulture, that is, the green areas are also not negotiable.”
Other facilities in the estate would include, a shopping mall, church, mosque, school, hospital, corner shops and the recreational facilities like the Park/green Park, he said.
Besides, he said the estate, been fully fenced, would also have provision for CCTV monitoring the entire premises, security officers, as well as the presence of divisional police, he said.
He stated that the buildings could be bought in stages either as carcass, or semi-completed, and the completed stage.
The completed building is targeted at people in the diaspora, who are expected to buy and just move into a completed decent apartment.
The carcass stage of a 3-bedroom apartment goes for N9m; semi-completed stage would attract N12m; while the completed stage of the apartment goes for N16m.
The fully detached, which comes with two boys’ quarters goes for N24m at carcass stage; N34m at semi-completed stage; and N45m at completed stage.
Others include, the semi- detached with a boys’ quarters at N17m carcass stage; N23m for the semi completed while the completed building goes for N31m.
The terraces also come with a boys’ quarter at N12m at carcass stage; N14m at semi completed stage; and N17m for the completed building.
He stated that the mode of payment was flexible as 30 percent could be paid up front, while the balance is spread through 18 months, adding that Zenith bank is financing the project.