Firm unveils project to bridge housing deficit

A Nigerian real estate company, Terra Developers, has unveiled its latest project, Nathan’s Bay, which features three distinct waterfront communities to bridge the lingering deficit gap in the country.

Speaking at the unveiling of Nathan’s Bay in the Lakowe-Lekki area of Lagos State recently, the Managing Director of the company, Kola Ashiru-Balogun, said the project signifies the firm’s commitment to providing luxurious houses for Nigerians.

Ashiru-Balogun stated that the three distinct waterfront communities, which include Jubilation Retirement Estate, Bayfront Villas, and Olivia’s View, are designed for the comfort of their clients.

He said, “One of the biggest sectors in the country is the real estate sector. In this sector, we have met people’s demands and helped people achieve their investments. These are clear examples of achieving financial goals. Real estate is about financing goals, which we have done with Nathan’s Bay.

“The Nathan Bay consists of three waterfront communities, including Jubilation retirement estate, a serene residential community designed for individuals aged 55 and above. This estate is for people in the diaspora who want to return home and retire. The estate is for 55 years and above, comprising bungalows and flats for retirement.

“The second community is Olivia’s View, which represents an affordable way to own an apartment in Nathan’s Bay. Olivia’s View consists of a two-bedroom, three-bedroom maisonette and a two-level style apartment. Customers will pay 10 percent and will be able to access the Federal Mortgage Bank’s NHF. This means a customer can buy a house for N50-60m, pay an initial 10 per cent and pay the remaining 20 per cent over a period of time, and the rest is going to be a mortgage at six per cent. Construction is to start in two months, and it is going to be done within 18 months. The third community is Bayfront Villas, which are fully serviced plots available in 300 SQM and 500 SQM sizes. These plots are going to be surrounded by waterfronts.”

Speaking on the awards and incentives to the realtors, real estate agents, and agencies, the General Manager, Sales and Marketing, Emmanuel Ekwe, said the reason was to reward them for their hard work, which serves as a motivation for others in the industry.

He said, “This award was designed to appreciate our partners for their hard work. We just gave them different incentives just to encourage them aside from the commission they make. The realtors, real estate agents, and agencies are critical stakeholders in the journey of Terra Developers.”

The event, which attracted prospective clients, investors, and business leaders, among others, also witnessed the presentation of washing machines, generators, air conditioners, refrigerators, televisions, and other items to outstanding realtors, real estate agents, and real estate agencies.