Plantation city to boost real estate investment in Delta State – Property – The Guardian Nigeria News – Nigeria and World News
The full development of Planation City in Warri, Delta State will strengthen the real estate industry and help it become a major investment destination, said Delta Mega Trend Nigeria Limited CEO Sam Ogrih.
Previously, the oil town was a ‘no-go zone’ for real estate investors due to security concerns and banks’ reluctance to support such ventures, leaving Lagos, Abuja and Port Harcourt as prime locations for prime developments. order.
However, the relentlessness of some real estate investors and developers like Delta Mega Trend had changed the real estate trajectory in Warri and its surroundings.
The plantation town is located on 120 hectares at the Otokutu Delta Steel Company highway. According to the expert, the city is a perfect demonstration that Nigeria can develop its economic potential through real estate due to the multiplier effects linked to the construction industry, as seen in places like Dubai.
At present, the city provides more than 650 jobs per day for craftsmen, plumbers, masons and electricians, reducing youth unemployment.
The mixed development residential estate has a certificate of occupancy from the Delta State Government, manages a site and service program, and promotes community and environmental sustainability for an indoor and outdoor living experience for those who do so. really wish.
It is strategically located on a large expanse of land, a natural and serene environment where children are free to play in a safe and secure gated community, to cycle, where parents and residents also roam in a very beautiful, peaceful, fully landscaped, green, clean and well-lit environment.
The city, which started in 2009, boasts of exclusive one-bedroom, two-bedroom and three-bedroom bungalows, semi-detached duplexes, exquisite auto-express duplexes, a police station and a food court. 24 hour uninterrupted electricity and rental areas with an occupancy rate of 40%. .
The developer, a graduate of the Havard School of Design, Smart and Intelligence Housing, has made space management an integral part of building design, using several development concepts and making infrastructure the key to housing construction.
According to the developer, Plantation City’s success story spurred the start of South Brook Gardens, another real estate development near the airport road in Warri, with natural surroundings and design.
The estate uses smart technology and operates with independent 1.5 megawatt power, drainage system and central water supply. The project, which started with loans of 100 million Naira from Union Homes and personal savings, has attracted more than 20 percent of foreign customers.
Speaking on the development, Ogrih said the city was driven by its determination to change the real estate landscape in Delta state.
He said that what it takes to start investing is not really capital but vision and determination, as it only started with a N100 million facility.
According to him, the money was not returned to him until after his house in Lagos was used as collateral for the loan.
Ogril said the town of Plantation began to grow with bungalows, and the price was determined by the cost of infrastructure.
According to him, those who have joined the project are already reaping the benefits of their investments. He also pointed out that most of the materials used in buildings are produced in the city under strict supervision to prevent building collapse.
He recalled that getting people to believe in the project was his biggest challenge as security was a big issue at the start of the project as most people were afraid to invest in Warri.
Ogril, however, expressed his joy that the city has changed real estate narratives of Warri and the Delta State as a whole.
One of the underwriters, Mr. Emmanuel Shegbaye, who applauded the vision behind the project, advised management to work with the underwriters to ensure the sustainability of the domain.
According to him, subscribers should not be considered as passers-by but as owners in the management of the city.