Developments upbeat at LFTZ as Buildcon raises project portfolios

by | May 16, 2018 1:09 am

Developments in and around the Lekki Free Tade Zone (LFTZ) has continued to swell as new and existing investors in that zone raise the stakes by increasing their investment and project portfolios.

Buildcon Global Services Limited, developers of Pracht Garden, Pracht Cluster and Pracht Court is one of such investors. The company recently introduced another luxury and fully serviced estate, the Pracht Smart City, in Ibeju Lekki which is within the proximity of Lekki Deep Sea Port at the LFTZ.

The LFTZ has, in the last couple of years, attracted big ticket investors including the Dangote Group who have together committed an estimated $10 billion in such ventures as the Dangote Refinery, Petrochemical Industry, Fertilizer Industry, Lekki Airport, the New Eko Tourist Resort, etc

It is hoped that Pracht Smart City, along with other real estate developments in this future business hub of the state, would reduce housing problem at the zone where there will be influx of foreign and local workers in the next two to five years in the area.

Recently, the Federal Government assured of its commitment to enhancing business activities in the zone through the deep sea port and other investments such as the China Africa Lekki Investment.

“We are positioning our projects to attract expatriates, senior executives and senior managers, hence the birth of Pracht Smart City,” explained Bukunola Gadzama, Buildcon’s CEO.

The estate is sitting on about 200 plots of land which will accommodate different house-types, ranging from apartments (flats), detached houses to terrace duplexes. Smart home appliances and complimentary amenities are expected in luxury homes to be delivered at the estate.

The development boasts unique smart home appliances such as Amazon Echo Dot, Kwikset (smart entry locks), Ring Video Doorbell Elite, Sonos Wireless Speakers, Phillips Hue (Lighting) among others.

“The proximity of the estate to investments at the LFTZ will offer access to an enormous consumer market across West Africa, as it is being developed as a logistics hub for the entire sub-region”, Gadzama assured.

For home buyers who would like to subscribe to this smart city development, the developer offers three years flexible payment plans. Gadzama explained that a two bedroom apartment sells for N9.8 million, three bedroom apartment goes for N11 million, while four bedroom terrace duplexes would be sold at N32 million.

There is an upfront payment of 30 per cent and upon an initial deposit, a subscriber would be given a milestone agreement which shows the construction stages of the property. Subscribers can also own parcels of land at Ibeju Lekki. About 100 plots of land of 648 square metres in size are available with prices ranging from N4 million for outright payment to N5 million for one year installment plan.