Afriland Properties, a premier real estate investment and development firm in Nigeria, has showcased remarkable resilience amidst the country’s challenging economic landscape. The company recently unveiled its latest residential project, The Residences, a testament to its commitment to quality and innovation.
Situated in Oba Oyekan Avenue (formerly Club Road) in Ikoyi, Lagos, The Residences stands as a seven-floor architectural marvel. The ground floor is dedicated to parking, while the six upper floors feature luxurious residential units.
The Residences distinguishes itself with superior build quality and exquisite finishes, setting a new standard in its neighborhood. “The quality is exceptional; the interiors are particularly impressive for those who appreciate such details.” remarked Agatha Obiekwugo, a non-executive director at Afriland Properties, during a recent facility tour.
Obiekwugo highlighted the project’s outstanding location, structure, and finishing as key factors in its appeal. “This is a hallmark of what we strive for at Afriland,” she added.
Emmanuel Nnorom, Chairman of Afriland Properties’ Board of Directors, described The Residences as a prime addition to the company’s portfolio. He emphasized its strategic location in Ikoyi as a significant selling point, contributing to its market appeal.
Afriland Properties has a robust track record of both residential and commercial developments across Nigeria, particularly in Lagos and Abuja. Nnorom noted that the high quality of their projects consistently attracts strong interest. “Despite the unfriendly economic conditions, the basic needs of food, shelter, and clothing remain. There will always be demand for quality housing,” he asserted.
Looking ahead, Nnorom revealed the company’s plans to introduce more affordable housing options in future projects to cater to a broader demographic. He acknowledged that property prices vary by location due to land costs. “Our recent development in Ikeja, similar to The Residences has different pricing compared to Ikoyi due to the land value,” he explained.
Nnorom emphasized Afriland Properties’ commitment to delivering quality across all projects, regardless of size. “Quality should be accessible to everyone, not just a select few,” he stated.
While he did not disclose specific prices for the apartments, Nnorom noted that construction costs influence pricing, which is subject to change. “Our prices reflect our construction costs, but we are committed to offering something affordable for all in the future,” he assured.
Afriland Properties continues to set benchmarks in the real estate industry with projects that blend luxury, quality, and strategic location, proving that resilience and innovation can thrive even in challenging economic times.
This Article was published in Businessday