Lifecard International has disclosed plans to deliver a 1,000-unit off-plan housing project to reduce the country’s housing deficit.
A statement by the firm said that research had shown that off-plan property purchases had reduced drastically, though it remained the best purchase strategy for investors.
It read in part: “From questionnaires randomly collected from property investors and buyers, it shows that investors are skeptical about the off-plan purchase due to delays in construction, abandoned projects, changes in property specifications, unforeseen market fluctuations, lack of transparency and integrity from real estate developers, among the common pitfalls.”
According to the firm, its off-plan programme has made it the first Nigerian real estate company to offer a ‘Reserve Slot System.’
“What this means is that investors will not be required to pay upfront after booking, but now book and pay on delivery,” it explained.
According to the firm’s Chief Executive Officer, Grace Ibhakhomu, the system would provide buyers with tangible evidence of the products they are investing in, minimizing the risk of unexpected surprises.
She also said that the transparent and open communication channels maintained by the company were geared towards instilling confidence in investors, by prioritizing their interests, and duly updating them throughout the entire process.