In a renewed effort to provide affordable housing solutions to Nigerians, Property Development company, Meritabode has commenced the construction of 200 units of 2 bedroom and 3-bedroom bungalows at Sapphire Court in Mowe – Ofada.
The Housing Project which was launched in March, early this year, is one of the many initiatives taken by the development company to tackle the housing crisis in the economy by exploring opportunities in viable suburban communities within close proximities to commercial districts of Lagos state to develop affordable houses for middle-income earners and fast-track their homeownership dreams.
Speaking at a press briefing, Mr Oludotun Oseni, Chief Executive Officer of Meritabode, stated that the company through Sapphire Court will facilitate and complete the development of 200 units of 2 and 3-bedroom bungalows within the next 24 months. “Through Sapphire Courts, Meritabode will be one step closer to her vision of providing affordable homeownership opportunities to Nigerians and in doing so create a comfortable living abode for 200 families,” he Stated.
“We selected Mowe – ofada for the Sapphire project majorly due to availability and cost of land for a housing project of this scale. Our goal is to make the homeownership process easy and affordable, and the cost of land plays a vital role in setting the price of a property. We also considered proximity to the Lagos Business District, Mowe is about 30 minutes drive to Ikeja, which means less commute time for Mowe residents compared to other parts of Lagos. Following these statistics, we envisage a high influx of business professionals, working-class and upwardly mobile population into the Mowe community,” Oludotun asserted.
The General Manager, Mrs Ofure Oseni also commented on the progress of the housing project. “When we launched Sapphire Court, we set out with the goal of contributing our quota to solving the huge housing deficit problem in Nigeria. With an estimated 17 million housing deficits recorded in the country, we decided to build exceptional and affordable housing units to bridge this gap. We believe in interrogating the challenges at every point in the housing value chain and providing credible answers and solutions to meet the needs of our customers.
“A lot of Nigerians can’t access quality housing due to the lack of access to the required resources to either build their own homes or make equity contributions to secure their homes. With Sapphire Court construction we are steadily reversing the country’s housing deficit,” Ofure said.
The Sales Manager, Mr Victor Igbenoba explained that Sapphire Court comprises 2 and 3 bedroom semi-detached and fully detached bungalows and is dubbed affordable luxury. In terms of the payment plans, he stated that the company has structured easy and scalable payment options for clients and investors.
“This project has been structured to help Nigerians easily purchase their homes. We have structured a flexible payment package that allows subscribers to extend their payment up to 24 months by simply making NGN 2,000,000 down payment. Subscribers at Sapphire courts can also get a free plot of land at any of our Emerald Gardens City series if they make the initial payment before the end of September,” Igbinoba explained.
Meritabode is the developer of Emerald Gardens City, a housing development that cuts across multiple locations in Lagos and Ogun states, including Arepo, Aseese, Simawa, Mowe, Agbara, Ikorodu and Ibeju-Lekki.