LAGOS-BASED property development company, Messrs Strategic Shelter Development Company (SSDC), has unveiled its estate - Royal Palms Estate targeted at medium income earners.The promoters of the estate, located at Igbesa, along Agbara Atan Road, off Lagos-Badagry Expressway disclosed that its development was borne out of the experience of many Lagos residents who have income but not enough to own homes because of the high cost of property in the city, and the near-absence of mortgage loans.Royal Palms is a mixed-use development comprising a residential are and a business district, promising modern facilities and infrastructure most of which are already under construction. These include perimeter fencing with modern gate house, tarred/paved road network, quality drainage, electricity to every plot, borehole water, landscaping with palms/grasses/gardens, street lights and parks, recreation and sports centres, police post, nursery, primary and secondary schools and intercom system.SSDC Chairman, Emeka Oranugo, stated that at the residential area of the estate are the Royal Terrace houses. The estate comprises, a mini-community of over 200 units of four-bedroom terrace duplexes under still construction. He disclosed that the commercial area of the estate are mainly site and serviced schemes in different categories including Royal Classic, Royal Executive; Royal Neighbourhood and Royal Business District.The Business District, he explained, is about 10 acres and would accommodate facilities such as hotels, banks, shopping malls, events and recreation centresHe said that beyond enjoying the general facilities of Royal Palms Estate, each terrace house also promises individual facilities such as four- bedroom (all ensuite); living room with visitors toilet; family lounge (upstairs); kitchen and store; front and back terrace (up and downstairs); cross-ventilated rooms, and beautifully landscaped compound with separate fence and gate.' We are in real estate development business to provide housing solution to Nigerians and indeed Africans through the promotion and development of modern gated communities and estates that are relatively affordable to our target market', Oranugo said, stressing that the estate would be provided with first class infrastructure and facilities that guarantee adequate comfort, peace and safety to residents in the most cost-effective and flexible manner.'Affordability, for us, means relative cheapness without compromising on quality, and convenience or ease of payment', he said, explaining that N14 million for each unit of the four-bedroom terrace houses with all the facilities is affordable.He said that they offer structured payment plan ranging from six months to 60 months tenor, adding that a buyer who chooses to pay by installment makes an initial deposit ofN2.8 million and if he wants six months tenor, he pays N2, 029,999.99 monthly.
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