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.
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