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.