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First Trust, Shell Cooperative, Dayola Property partner on N1.7b Lekki property


By Okwy Iroegbu-Chikezie

First Trust Mortgage Bank Plc, Shell Cooperative (COOPEAST), Dayola  Property & Development Company are partnering to deliver Beaufort Park on one hectare of land in new Lagos, Lekki.

Managing Director, Dayola Property & Development Company, Dayo  Olaiya, said the 72-unit luxury flats with Boy’s Quarters (BQ) was made to suit urbane taste of members of COOPEAST, who subscribed to the upscale estate with competitive facilities.

“Beaufort Park is a premium, affordable, fully-completed and finished housing development, built for discerning investors and home buyers eager to acquire and enjoy living in this developing area known as new Lagos. The project is located behind the largest shopping mall in West Africa, The Novare Lekki Mall,” Olaiya said.

According to him, some of the features of the luxury flats include interlocked roads, alternative power supply, sewage treatment plants, close circuit television (CCTV), water treatment plant, children play area, lawn tennis, basket ball court and cleaning services, among others.

COOPEAST  President Chief Chika Onuegbu said they decided to invest in real estate sector in Lagos because it remained the most-viable in the property market in the country.

He noted that Lagos was the fifth largest economy in Africa, and as a dynamic cooperative society; COOPEAST looked forward to high yields and best investment options for its members.

Lagos provides the platform to grow the wealth of COOPEAST members as its 20 million population provides good opportunity for investment, he said.

“It’s all about high investment yield for our investment and the overall benefit for our members,” Onuegbu said.

On the subscription level, he said they have over 60 per cent subscribers. According to him, the cooperative society is also investing in Rivers, Akwa Ibom, Imo, Enugu, Akwa Ibom and other states.

He explained that under a new project called “COOPEAST my city”, members are encouraged to suggest cities they would prefer to retire to or live in after leaving formal employment; and after proper assessment, such cities attract decent and competitive buildings for members.

“The thing uppermost in the minds of managers of the Shell Cooperative account is the well being of members and the growth of their investments,” Onuegbu said.

He said members awere encouraged to access loans from cooperative or through a mortgage bank.

General Secretary, COOPEAST, Ekpedeme Umoidem, said the Beaufort Park Lekki project was targeted at members willing to invest in the Lagos area.

He added that the idea was in the best interest of members to grow their wealth by investing in projects with high yield and return on investment (Rol).

He reiterated that interested members would access loan from the cooperative or the National Housing Fund (NHF) through a mortgage bank.

Executive Director, Business Development, First Trust Mortgage Bank Plc, Ngozi Ogunwa , encouraged Shell cooperators to take advantage of their services and make good their plans of owning and living in Beaufort Park, which the bank is financing.

She said the mortgage industry was growing in Nigeria and commended the Federal Mortgage Bank of Nigeria and the National Housing Fund (NHF) that have made it possible for contributors to own their homes.

On NHF, she said a subscriber could get between N5 million to N15 million depending on the individual’s contribution.  It takes an average of three to six months to access the NHF loan.

She encouraged Nigerians to patronise mortgage institutions to bridge the housing gap.

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