LETCO Develops N9billion Estate at Ikeja, Lagos

A Nine billion Naira Estate development has commenced at Oregun, Lagos , Nigeria . The estate First Salem Housing Estate is financed by Lagos State Executive (Thrift and Credit ) Cooperative Society.

The developer, Real Estate Emporium Limited said the estate would be built in phases.

The first phase would comprise 206 units of flats at a cost of 3 billion Naira.

To own a home in the estate requires a down payment of 30% of the total cost and balance could be paid in installment within 20 years.

The Managing Director of Micheal Adedeji Real Estate Emporium Limited said Mortgage on the houses would attract 15% interest and twelve months period of grace.

A two-bedroom standard flat would cost 10 million Naira; two-bedroom luxury flat would sell for 18.5 million Naira; four bedroom luxury flat costs 20.5 million Naira while the penthouse costs 20 million Naira.

The estate is complemented with network of roads and street, perimeter fencing, central sewage system, schools, shopping malls, club house, standby electricity plant, good drainage network and professional security service.

For years LETCO has been in forefront of estates developments in Nigeria . Their works include: 5 billion Naira Lekki Foreshore housing Estate in Lagos , and the APIICO-shelter Afrique Housing Estate in Uyo , Nigeria .

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