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Property development company, The Address Homes said its partnership with the government was purely for promoting integrity, professionalism, customer satisfaction and safety in real estate industry in Nigeria.
In addition, the Marketing Manager of the company, Mr Segun Ogunbiyi, said the collaboration was meant to curb unscrupulous practices and promote global best practices and investment opportunities in the sector.
Speaking with the Nigerian Tribune at the Real Estate Market Place Conference and Exhibition organised by the Lagos State Real Estate Regulatory Authority (LASRERA), Ogunbiyi said the firm has continued to change the face of real estate developmentthrough the deliveryof quality homes to high income luxury homes seekers in areas likeIkoyi, Lekki and other exclusive neighbourhoods in Nigeria.
The marketing manager said it was true that Lagos’ real estate market is saturated but that his firm has gone ahead to create a niche within the luxury market.
“The real estate market has different segments. There is emerging market, there is mid-market within the grassroots, there is upper echelon market. We play in the upper echelon market whereby we build luxury homes for the VIPs, captains of industry, the oil and gas’ gurus. Those are the people we focus because they can afford our properties.
“Our market is narrowed to a particular set of individuals and not the whole market.”
According to him, the firm focused the luxury market (upper echelon of real estate) in locations such as Ikoyi environs: Old Ikoyi, South West Ikoyi, and emerging locations in Lekki, Nicon Town and Osapa.
Some of the company’s projects, he said included The Luxuria, on Alexander Road, Dan on Banana Road, Ikoyi, and Osapa London in Lekk, adding that the firm has also extended construction to Ikeja, GRA and Keffi Street, Ikoyi.
When talking about luxury homes, Ogunbiyi said that standard housing construction, top-notch finishing and functionality come to play, adding that location, affordability and serenity also dictate the market.
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“We focus on this segment, because we are in business to make margin. We have seen the market and we discovered that there are particular set of people that want the best location.
“So we concentrated in urban locations. We look at lands that are lying fallow, sometime approach the owner, go into join venture, build, operate and transfer to the owner,” he said.
Ogunbiyi added that the Address Home has been known for professionalism, quality building production with detailed finishing than can stand the test of time.
“We don’t cut corners; we build standard projects that stand the test of time. We do not compromise. That is the different, and our finishing is top-notch
“The luxury market looks for quality, exceptional finishing and not just ordinary finishing,” the marketing manager said.
He noted that some houses by some developers have remained dormant in the market due to poor construction and finishing.
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