Propertygate boosts real estate market with N0.4bn investment.

A front-line real estate development company, Propertygate Development and Investment plc, has invested N400 million as part of its strategic efforts to boost real estate market in Nigeria.

Besides, the Lagos-based company has almost completed another top-class estate project called Alexandria Quarters in Lekki Peninsula, Lagos.

Confirming the development to BusinessDay at the weekend, Adetokunbo Ajayi, Propertygate’s managing director/CEO, explained that the company had delivered 14 houses of various types to it clients.

Ajayi listed the houses delivered as blocks of exotic flats, fully detached and semi-detached with features such as paved compound, waterworks, beautiful landscape and professional security guards for enhanced protection of lives and property.

Speaking on the philosophy that underpins Propertygate’s projects, Ajayi said the ultimate was clients’ satisfaction, describing real estate industry as fundamental to human existence since shelter was one of the basic necessities of life.

“We strive to consistently fulfil the promise of enriching living made to our customers by ensuring superior value at the core of our products and service delivery. These have made our products a sought after in the real estate market,” Ajayi said. Already, Propertygate has successfully handed over Omoniwa Court and a host of other houses to their owners.

Ajayi confirmed that the Alexandria Quarters located within sky-view residential scheme at Lekki Peninsula, Lagos, would be ready for occupation soon. According to him, acquisition of land for the estate is a direct allocation from Lagos State government within the New Town Development Authority (NTDA).

There are 33 residential units in the estate. Some of its unique features include well protected gate of manageable size, beautiful functional homes with great finishing, dedicated power station (transformer) and underground power cabling, generators backup for entire estate, and homes, conduit ready for inverters as further backup streetlights, mini waterworks of 220m deep borehole, water treatment plant and other water installations paved roads, walkway and drains, recreation areas, gymnasium and grocery store, security gate house and CCTV cameras.

Ajayi has consistently advocated for a comfortable estate with basic infrastructure as a catalyst for development, pointing out that the high demand for high-brow areas despite the high cost of accommodation is as a result of the atmosphere where basic necessities such as road, power supply, water, etc, are not only available but functional.

Culled from Business Day Online.