LorenzoBySujimoto, the nation’s first luxury residential apartments has sold 2 billion Naira worth of units prior to its official launch in December. This magnificent project which has been dubbed, the tallest residential building in Lagos has been attracting numerous interests from foreign and local investors. Someone very close to the company has confirmed that investors from the United Arab Emirate and Saudi Arabia have made serious commitments towards the project.
Mr. Ogundele, CEO Sujimoto construction with the king of Dubai, HRH Mohammed Bin Rashid Al Maktoum
To be honest any smart, savvy and even shrewd investor can perceive the LorenzoBySujimoto project as a rather enticing pie which is hard to resist as the timing of the project couldn’t be any better. Why? Of course it’s coming at a time when the global prices of oil is taking a nose dive and investors are cashing out fast, scurrying to plunge their money in viable enterprises to get respite from the “oil blues”. LorenzoBySujimoto has been dubbed the new oil because of its high returns on investment, especially for investors buying into their off-plan scheme. Sources confirmed that they are ONLY selling 25% of the project in off-plan sales. International realtors refer to Nigeria as Africa’s premier destination for property developments.
There are 2 principles when Investors look into Real estate deals, location and ROI. Bourdillon road is one of the most prestigious locations in Ikoyi, which makes it the ‘5th Ave’ of Lagos. According to one of the investors, he realized that buying into an off-plan deal will give him an aggregate savings of over 50% of the actual value of the unit upon completion, He gave an example of those who took advantage of the Burj Khalifa off-plan sales, they bought properties at 800,000 USD during construction, which were later valued at 2.6M USD in less than two years.
Excellence attracts excellence: Mr. Ogundele, CEO Sujimoto construction in a meeting with the CEO of Novikov restaurant, Arkady Novikov.
According to predictions by accounting and auditing giant PricewaterhouseCoopers (PwC) the real estate sector’s value will rise from $9.16billion to $13.65 billion in 2016 with a growth rate of 8.7 per cent making it the sixth largest in the economy. From an investment perspective, Location: Bourdillon road is one of the most exclusive streets in Africa. The average sales price of an apartment on Bourdillon road is over $1 million USD, and the rental value of these apartments goes for a minimum of 150,000 USD, this gives any savvy investor a rental return of 15% annually. Over the years, Bourdillon Road as the best location has always maintained that exclusivity and enjoyed greater returns on investment irrespective of what is happening in the real estate sector or the economy.
Built on 3,800sqm of land, this 25 floor tower with state of the art amenities, boast an average size of 360sqm to 1,000sqm of pure Luxury. It features two (2) Pedini styled kitchens for everyone, smart home automation, high-security fingerprint access, 3 car parks , bespoke designer interior and central air conditioning systems. It has top of the range wellness spa, fully equipped gym, Virtual golf course, 24 hour crèche where your kids have fun whilst you enjoy dinner at our 5 star, posh restaurant, managed by Novikov – offering you superlative cuisine recognize as one of the best and most exclusive restaurants in the UK and around the world. Our source mentioned that Mr. Ogundele has made numerous visits to Dubai recently and has been spotted in meetings with power brokers, investors and partners one of which includes Mr. Arkady Novikov, the multimillionaire owner of one of London’s most successful restaurants “Novikov”.
We also gathered that the company is planning a private unveiling at an exclusive event in mid-December where everyone “who-is-someone” in the country has reserved their seats. It is believed that the building design and interior will be unveiled for the first time to the public at this private launch. The news has gone round and investors at home and in the diaspora are looking forward to seeing things for themselves.
Authoritatively confirmed performances include internationally acclaimed Nigerian soul singer, ASA alongside song writer and music producer extraordinaire Cobhams Asuquo responsible for Asa’s debut album and also co-writing the hit single, “Fire on the Mountain,”
On paper, the LorenzoBySujimoto is an enchanting architectural masterpiece and a great asset for stakeholders and insightful individuals looking forward to high returns on their investment. Will this meet expectations upon completion? We are firmly fixed watching how it turns out. Nevertheless one fact remains, everyone is looking forward to the 12th of December 2015 where the buzz of the unveiling is dropped for the crème of the crop in Lagos to see.
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