The Eko Atlantic metropolis, otherwise known as Nigeria’s International Commercial Centre, is an innovative coastal city located in the heart of the Victoria Island district in Lagos, Nigeria. With its grand infrastructural design that houses world class, large scale financial, residential and commercial developments, the coastal city has become an undeniable creator of wealth amassing opportunities.
Individuals, companies and organizations have benefitted immensely from the project by leveraging on the chance to acquire plots for private development or invest with real estate companies that develop properties in the metropolis.
Now more than ever before, investors who want to diversify their portfolio by investing in luxurious residential deals, have a lot to look forward to by becoming a stakeholder in Eko Atlantic.
This is as a result of the coastal city’s enduring and outstanding selling points which include; being a major metropolitan area designed to be sustainable and self sufficient, job markets and work spaces, increasing net worth of homes, availability of various utilities and services, independent 24/7 power supply, smooth deed of assignment and construction approval process, fiber optic communication connections to every plot of land amongst many other benefits.
Eko Atlantic has been specifically built as the focal point for investors who choose to leverage on luxurious developments. What should prospective stakeholders looking to enjoy portfolio diversification and massive returns by buying into Lagos’ magnificent metropolis, have in mind?
Investments are made with the sole purpose of generating a handsome ROI. The expected ROI is inadvertently hinged on the goals attached to the investments.
With specificity to investing in luxury real estate, it is advisable to identify specific goals by taking into consideration the time to be alloted to investment management, investment budget, preferred investment style, risk tolerance and purpose of investments.
Micro-scale details of the property should also be evaluated. This includes factors like price per square foot, the price to rent ratio as well as the oscillating prices of the property in the last five or six years.
Luxury real estate investments are capital intensive and determining available means of financing is one of the biggest considerations. They can be financed in a variety of ways. One option is to own the property debt-free if enough cash is available at hand. If not, an alternative is to acquire investment loans from banks and other financial institutions.
Loans for this purpose usually come in the form of hard money loans. These are easily approved, short-term loans designed to be paid back in a few months. These loans are great financing options if the property you invest in drastically increases in value after a few months.
The right market
Investment in luxury real estate demands clear-cut research and evaluation of the market options. Valued at about $300m, Eko Atlantic is a world class initiative that offers diverse market options for investments. Its state of the art modern design makes it a destination point for high-end property developers and buyers who are drawn to its extravagant features, opulent amenities, grand architecture, heightened security, privacy and general idyllic atmosphere – all offered by various properties represented by different market options.
The preferable choice is to choose luxury properties that align with a preferred investment style and budget and have a high chance of increased ROI over periods of time. Finding these said properties is one of the many areas where investing with a trusted real estate company, like Arkland Group, comes into play. Arkland’s luxury offerings range from penthouses, apartments, duplexes, residential towers and mansions – all market investment options available with Eko Atlantic’s first purely indigenous real estate company.
Navigating the waters of luxury real estate investing can be difficult. It is advisable to partner with the right real estate company that develops high-end properties in the coastal city. Established real estate companies, like Arkland Group, have vast experience and expertise that serve to provide top-tier guidance on processes of investment and ensure lucrative returns are made.
Arkland Group is a property development firm and the first indigenous real estate developer to build towers in the Eko Atlantic City. With over 300 developed housing units and 8 ongoing construction projects in Nigeria, it has earned the reputation of being a leading real estate company and property developer with a focus on sustainability, longevity and premium living.
Umana, head of sales/client services, Arkland Properties & Investment, writes from Lagos