The Nigerian property market has been experiencing exciting moments in the past couple of years, with the entry of Lekki Gardens Limited—GTRich Investment’s special purpose vehicle (SPV) for real estate investment and development.
As a firm with core competence in providing quality and luxury homes within an affordable budget, Lekki Gardens has strong presence in the highbrow areas of Lagos island and mainland, and arrived Port Harcourt late last year.
The company develops mainly residential estate schemes and their serviced plots and houses are positioned as quality affordable home units with strong value increase potential to the average income earners, offering buyers easy opportunity to maximize future value of their property investment budget, as well as homes to live in places with recreational facilities, estate management and security benefits.
Evidently, the company has taken the market by storm—breaking the affordability jinx, dismantling class and entry brick walls, providing the prism for seeing through the market’s opaqueness and, above all, placing the customer at the centre of every decision, consideration, planning and execution.
In an oligopolistic market environment which is what the Nigerian property market represents, all commodities are fundamentally the same, but the producers, developers that is, differ significantly in their attitudes, strategies and, more importantly, in their perception of, and relationship with the customer who is generally regarded as king.
At Lekki Gardens, the customer is truly a king and he is unreservedly treated as one because care is taken not only to understand what he wants, but also how and when he wants it delivered to him.
With about 6,000 customers on its books and still counting, and over 2,000 housing units delivered in 24 months and many more at various stages of construction, it is not difficult for casual observers to dismiss the Lekki Gardens housing model as magic, but “there is no magic in what we are doing here; it is just a clear vision about providing housing solutions and far beyond that is the desire to serve the customer”, Richard Nyong, the company’s CEO, explains.