Harmony Gardens invests $800M in high-end residential projects as Nigeria’s property market soars.
Ibeju-Lekki, Nigeria, May 27, 2024 – In a bid to capitalize on the thriving real estate market in Nigeria, Harmony Gardens and Estate Development Limited, the build-to-sell (BTS) and Lease to Own (LTO) assets unit of Nigeria. The developers of Lekki Aviation Town, Granville and Majestic Bay are set to invest a whopping $800 million in three high-end affordable residential projects. The move comes as the city’s property prices and rents approach record levels.
- Harmony Gardens to host 7,000 participants to proffer solution to “Housing Deficit”
- The company also plans to offer residences to Nigerians in the diaspora
- Thousands of Nigerians are to be housed in a vast residential community in Lagos, Nigeria.
Lekki Aviation Town
There seems to be a consensus that what we need for Nigeria’s Housing Deficit is a tailored solution, a nuanced solution to the problems we face. Audullahi Kabiru Mosadoluwa, the Executive Director of Harmony Gardens said, I don’t want to sit here and defend the kind of accommodation the middle-income Nigeria are forced to live in because it is indefensible to see that the government are supporting private developers with a capital of building houses and we do not get to see the housing deficit reduced and here we are to launch another 3 estates
Audullahi Kabiru Mosadoluwa
The new developments, which will include luxury homes and townhouses, are expected to significantly boost the company’s sales and profitability. The surge in demand for housing in Nigeria has been fueled by an influx of not only regular Nigerians, but it has now started affecting Nigerians in the diaspora, reversing a years-long slump in the city’s property market.
Audullahi Saheed Mosadoluwa, the chairman of Harmony Gardens and Estate Development Limited, described the 3 projects as “momentous” for Majestic Bay Estate, Granville by Harmony, and the Lekki Aviation Town with top-notch infrastructural that would reduce Nigeria’s housing deficit and that of Nigerians diaspora population.
“One of the locations of the mega project, Lekki Aviation Town sitting on 167 Hectares of Yegunda Govt Approved Resettlement Scheme directly facing the New Lekki-Epe International Airport, a modern estate strategically located along the Lekki Epe Expressway within the prime neighborhood of emerging Lagos state new economy.
It’s a dream come through for everyone who desires a home and investment that can yield a good return on investment within the shortest possible period of time on either Granville Estate at the heart of Eleko Beach Road linked to Lekki Deap Sea and Dangote Refinery or the Harmony of the Sea tags Majestic Bay Estate.”
Mosadoluwa said the firm was established as a leading player in Nigeria, adding that Harmony Gardens brings both affordable and middle-income developments to market and nurtures them into inclusive occupied communities with 1,412 Hectares of Land with verifiable titles worth 600 million USD in our company portfolio.
“As the Chairman of Harmony Gardens and Estate Development Limited, I am dedicated to providing strategic leadership and fostering a culture of excellence within our organization. We prioritize consumer-centric lands that offer maximum comfort, security, and serenity, tailored to meet the specific needs of our customers.”- said Mosadoluwa.
With an impressive portfolio of achievements, including the acquisition of 1412 hectares of genuine title land valued at 600 million USD and the recent acquisition of 135 hectares for Aviation Town development, Harmony Gardens is committed to delivering premium real estate products across major cities in Lagos State.
Mosadoluwa further said, “We are proud to be recognized by the Institute of Real Estate Management as an Accredited Management Organisation and certified by the Lagos State Real Estate Regulatory Authority. These certifications reflect our unwavering commitment to professionalism and quality in all our endeavours.”
On the challenges bedevilling the real estate growth in Nigeria, he said the Nigerian real estate sector is possibly the largest and probably most transformational remaining piece of the puzzle to unlocking wealth for the average Nigerian.
