With the rising housing deficit in the country and the need to help more citizens own their homes, a real estate company, AstroGlobe Estates & Investment Ltd is poised to bridge this gap with its Smart City of Lagos housing estate.
The estate city will give both the high, low and medium levellers in the society equal opportunity to own a comfortable home while paying throughout a lifetime.
According to Chidozie Maduagwu, the Chief Executive Officer of AstroGlobe Estates & Investment Ltd, the essence of the scheme is to draw those with no hope of experiencing the Lagos real estate luxury lifestyle closer to civilization and reorient their mindset through real estate.
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While noting that payment for the units will be as minimal as possible, he said that it will afford Lagosians the opportunity to shape the way they think, the way they’ll begin to see and understand life, their character, input and impact in society.
“This estate will be likened to a finishing school; the dream of creating this city is larger than anyone can think of and it’ll be achieved. We are still a work in progress and this smart city will create a new lifestyle, employment, dreams, vision, jobs day in day out and ultimately put Nigeria and Africa on the global map for a smart city never been built like this in the world.”
Speaking on the impact of the smart city project, Maduagwu said, “the population of Lagos is between 20-22 million residents and the housing deficit here is over 2.5 to 3 million, that is approximately 11-13 per cent of the total population of Lagos state. If we can achieve building houses that translate to 0.005 per cent of the housing deficit in 10 years it will amount to 10,000 housing units. However, that’s still a long way to go in curbing the housing deficit.
“We will continue to strive and help more homeowners find the right houses and lands to acquire in a manner that the experience is second to none while we strategize to develop more housing units through a partnership with more landowners and possibly with state governments.”
Astroglobe’s debut real estate project is the Rosebank Court commissioned in 2015. The holistic real estate company encompasses certain key value chains in the industry from real estate developments to estate agencies.
They are a broker buying and selling; lease of residential, commercial buildings and the sale of lands, to design and building. Over the years, the company has developed 12 housing units which include mixed development units from two bedrooms apartments to three bedrooms maisonettes and four bedrooms terraces.