Firm to Boost Homeownership with Promise-to-own Initiative

Detached three-bedroom apartments on a housing estate in southwest Nigeria. Photographer: Pious Utomi Ekpei/
  • Firm to Boost Homeownership with Promise-to-own Initiative

Real estate development firm, Rydal Mews, has said that as part of its contribution to reducing the country’s housing deficit, it has unveiled an initiative known as ‘Promise-to-own’.

The firm explained that the initiative would provide customers an opportunity to own quality and affordable houses in the heart of Lekki with pre-payment plans spread across five years.

“Our Promise-to-Own initiative will eradicate the challenges of owning a house in highbrow locations in Lagos and spread real estate opportunities to property investors conveniently,” the Chief Executive Officer of Rydal Mews, Modupe Anjous said.

Anjous, who spoke at the company’s 7th Anniversary celebration, in Lagos, said the Promise-To-Own was engineered to make home ownership accessible to Nigerians while preserving the ultra-modern standard of living.

“Rydal Mews intends to dissolve all the worries associated with buying a new house, especially with the rising cost of rents in a cosmopolitan city like Lagos. This offers customers maximum satisfaction via structured payments to achieve long-term return on investments,” she added.

She stated that the company was focused on providing top marketing and sales, facility management, advisory services and property management while developing more properties that fit into future smart-cities.

According to her, Rydal Mews will help transform the landscapes of urban communities and place Nigeria at the forefront of development in Africa.

She said, “The Promise-to-Own initiative starts with the Prime Water View Gardens 2 right in the heart of Lekki Phase 1, which has a fully serviced environment with proximity to commercial offices and other communal social amenities.

“It offers the customer double benefits of moving into a three-bedroom apartment from inception of first payment and also subsequent installments spread over two to five years based on structured agreements.”

A former Commissioner for Finance in Lagos State, Prof. Mustapha Akinkunmi, said the Promise-to-Own initiative was a disruptive innovation in the property space.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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