Homes for middle income clients still lucrative business – AIBEN CEO
Despite the harsh effect of the economic recession on the propery market, homes for middle income earners is still lucrative in Nigeria. A real estate practitioner and the Group Managing Director/CEO AIBEN Group Mr. Andy Elerewe stated this during the commissioning of ` AIBEN’s new head office at Lugbe, Abuja. He said that […]
Despite the harsh effect of the economic recession on the propery market, homes for middle income earners is still lucrative in Nigeria.
A real estate practitioner and the Group Managing Director/CEO AIBEN Group Mr. Andy Elerewe stated this during the commissioning of ` AIBEN’s new head office at Lugbe, Abuja.
He said that the high end properties suffering are in low demand as there are no willing buyers, making middle income homes an option and presently lucrative.
This, according to him, made AIBEN Group to focus on delivery of quality homes for middle class Nigerians.
“We have six on-going projects in Abuja alone. We are the developers of Ambassadors Villa Estates: Phase 1, 2 & 3; Pleasant View Estate and Biltmore Gardens Abuja phase 1 & 2. Under public private partnership, we are also building 500 housing units for Katsina State government,” he said adding that they are also building hostels at the American University, Eket, Akwa Ibom State.
He also said AIBEN is developing an 18 hectares estate in Lekki-Ajah-Epe expressway worth N15 billion.
He said that access to land and its high cost is making houses less affordable to ordinary Nigerians.