Nigeria: Real Estate Firm Unveils New Housing Project

21 October 2020

Henry Montego Homes, a real estate development company in Lagos has added another ground-breaking development to its pool of affordable luxury housing in the residential space.

The move, the company explained in a statement, was in line with the increasing need for sustainable housing infrastructure as well as to solve housing problems in the real estate sector.

The official groundbreaking ceremony of the new project, Montego Bay 4, held recently at the project site, beside Mercedes-Benz, Ikate, Lekki, in Lagos.

The company explained With all three phases of the Montego Bay developments successfully sold out, the company has gone a step further to drive her vision of home ownership for every Nigerian by launching the new Montego Bay 4 project.

Speaking about the vision of the company and the launch of the new project, the Managing Director, Henry Montego Homes and Industries Limited, Mr. Henry Ebuluofor, stated that the goal was to see average Nigerian young men and women who work so hard, own a home with no stress.

According to him, "At Henry Montego Homes, we thrive on solving problems, and this is why we have gone ahead to establish a very rare payment mortgage plan of five to eight years, which is the first of its kind in Nigeria.

"In the nearest future, we hope to raise this bar up to 20 years and thus expand opportunity for everyone to own a home."

He revealed that the Montego Bay 4 estate project, located at a highly sought-after location in Ikate, Lekki 1, Lagos, features a shopping mall, four-bedroom units of terraces, town-houses and semi-detached duplexes, as well as units of three-bedroom apartments, all exquisitely designed and fully finished.

The estate has amenities such as swimming pool, bar and lounge, green and open area for kids, gym house, spacious parking lots, as well as a top-notch smart home technology, the company is aligning this development to attract first time home buyers, couples, second home seekers, smart property investors and retirees, looking for quality real estate developments and attractive returns on their investments through rental yield and capital growth.

He added that the houses are currently selling for as low as N550, 000 monthly, with balance spread across five years.

Ebuluofor, noted that with Nigeria's population growth rate currently at 2.6 per cent annually, more and more new houses would be needed to accommodate the populace. He called on Nigerians, especially Lagos residents to take advantage of the Henry Montego Homes offer.

The Montego Bay 4 is the fourth and newest addition to the Montego Bay development projects, which have all been successfully sold out within one month of launch. This project is the company's first delve into commercial real estate development, as the estate will feature among utilities a world-class shopping mall.

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