An interview with Debo Adejana , Managing Director /CEO of Lagos based, Realty Point Limited.
Tell us about your property endeavour?
Even though we have our head office in Lagos, we`ve just launched our housing units in Abuja. We have terraces in Jahi district, Abuja and we have eight units and have same in Lagos. In Lagos, we are located in Lekki Phase two and we have 160 units there.
When did you start real estate business?
We have been in business for 11 years now.
How is your payment like especially in the face of dwindling economy?
We are very considerate, and we have different payment plans that are flexible enough for prospective clients. You can do an outright payment or we make reservations with N99,999 that’s approximately N100,000 and we will now give you 60 day grace period to come up with initial payment and that’s around 20 to 30 percent of cost price. And the remaining 70percent you can spread to over 36 months. In Lagos, we have rent to own program. You will be required to pay initial payment of 20 to 30 percent and will move in, after which we will now spread the remaining payment over minimum of 10 years and maximum of 15 years.
Can you tell us how many houses you have both in Lagos and Abuja?
In Lagos we have 160 different apartments, ranging from studios, one, two and three bedroom floors. Then in Abuja we have four bedroom duplex, terrace duplex and boy’s quarters
What are the options you are exploring to get housing to other parts of Nigeria?
We have established our presence in Lagos and Abuja and we are certainly thinking of other areas like Port Harcourt. We definitely know that other parts of Nigeria require this solution for shelter that we have and we are doing all we can to cover as many as possible locations. We are all aware how expensive rent is in major cities in Nigeria, you see people paying over a million for 3 bedroom flats and all that and that’s why we came up with the “sack your landlord” policy that allows you to rent to own. More here.
How come this guy isn’t on Fashola’s team? That’s the sort of collaboration needed for a housing crisis.