Skip to main content

IPDC consolidates foothold on mid-income market with mini apartments, others



Reaffirming its position as the choice property development company for the growing middle class, International Property Development Consortium (IPDC) has promised an exciting 2014 for Nigeria’s mid-income property market with its range of developments in major city centres.

The firm, which is already a major player in the Lagos mid-income market with various mini apartments such as Lotus Apartments and Pine Court Apartments, will also for the first time veer into the Abuja market with its lifestyle Hilltop terrace.


In an exclusive chat with BusinessDay, Weyinmi Edodo, chief executive officer, IPDC Limited, said the firm would make its debut in the Abuja market with about 10 units of terrace houses to be located at the Asokoro area of the city. The lifestyle community will be delivered in four-bedroom apartments with state-of-the-art facilities such as automatic gate, club house, swimming pool and other luxurious amenities. 

However, it will be moderately priced despite these amenities.

“In the Lagos market, we will consolidate on our previous developments, so expect a second phase of the Lotus Apartment,” Edodo said, adding that the estate, which will be on the Lekki axis, would be basically one-bedroom apartments.

He also said they were planning to do a development called the Estivo, which would comprise about 50 units of two-bedroom apartments with modern amenities of a lifestyle estate such as spa, club house, swimming pool, playground for kids, and a dedicated gate for visitors and a remote-controlled one for residents, adding that the development would also be on the Lekki axis.

“At the Victoria Island axis, we will be building the Enzo Apartments which will be a collection of one- and three-bedroom apartments with modern amenities,” he further disclosed.

On his preference for the mid-income market, Edodo explained that the segment boasts of several opportunities presented by a shortfall of efficient homes, adding: “This segment of the market hosts the fresh graduates, upwardly mobile members of the population, young families and young business executives who really do not desire the three- and four-bedrooms but rather mini apartments.”

For the commercial market, he said they also plan to build a 10-floor office space to be called ‘Seven Degrees’ with each floor rotating seven degrees from the proceeding floor both for the Lagos and Abuja market. This, according to him, was borne out of the shortfall currently experienced in the market.

“We have noticed that most firms, both local and foreign, lack the desired comfy office space that meets their expectation,” Edodo explained, adding that on delivery each floor of the development would be sold to a tenant.

ODINAKA MBONU

Comments

Popular posts from this blog

Tip #2: Be Dependable and Available

Being a dependable person is extremely beneficial to being a successful property manager. It’s important to respond to phone calls and e-mails in a timely manner. If you are managing numerous properties you will be very busy, but being available when owners and/or tenants need to speak with you is essential. This builds trust within your business relationship and makes your client feel confident that they can rely on you. You certainly have a life outside of work. There is no need to give out your personal cell phone number. As long as they have your e-mail address and you try to keep yourself available as much as possible during regular business hours, that is enough. Time management and organization are also a huge part of being dependable. Don’t spread yourself too thin. Make sure you schedule meetings accordingly in order to meet your clients’ needs. Lastly, a great quality to possess is people skills. You will be working with numerous peop...

Quick fixes for quick profits in real estate

It has been said several times that ‘ideas rule the world’ and this holds true in real estate investing as well. We want to examine a time-tested idea that guarantees quick turnaround time and good returns on investment in most real estate markets. We’ll be examining guidelines for making a good return in rehabilitating and selling properties. First, you need to find a property that is in need of repairs or renovation but is located in a good area. 

Benefits of long-term loans

Long-term loans can be a positive exercise for the consumer and a business. The flexibility of an investor's limited capital is increased while the positive credit that they have developed makes it easier and potentially cheaper to borrow in the future, according to  www.finpipe.com . Introduction to long-term loans It is rare for a consumer or business to have enough cash on hand to invest in large and expensive items such as a house or car and long-term loans provide the necessary debt financing for these purchases. Long-term loans can be from three to 25 years in duration and in order to qualify a debtor must have a positive credit history, the ability to provide collateral, and capital. Provided that those criteria are met, a long-term loan can minimise the effect on operational cash flow, a debtor can borrow at a lower interest rate, a business can minimise investor interference, and it is also an effective way to build credit worthiness. Long-term loan advant...