A real estate development firm, Tobykemsworth Investment Limited, has rolled out creative services which will produce 500 affordable homes in 2022 as part of efforts to reduce the nation’s housing deficit.
The firm has also opened an investment opportunity, where investor scan invest in firmly guaranteed projects and
get 20 per cent returns in their investment annually.
Through this avenue, the firm working also with the Federal Mortgage Bank of Nigeria (FMBN) and the National Housing fund, would be making millionaires where their clients will get a minimum of N100 million returns on investment this year.
Chief Executive Officer and Managing Director of the firm, Dr. Adekunle Raphael-Monehin, who disclosed this in Lagos, noted the challenges of housing in Nigeria, stressing the need for collaboration with government to tackle the menace.
He said the firm, which had since 2009, saddled itself with the responsibility of providing proactive creative services through her various divisions, decided to venture into affordable homes because of the high demands of housing among low income earners.
The civil engineers stressed that the firm has also adopted innovations like the Total Estate Solution Multi Purpose Housing Cooperative Society (TES), the Teachers’ housing project and the proposed Broadcasters’ Villa project, which targets journalists through it’s project in Agbowa, Ketu area of Lagos to the dream a
reality.
Stressing the impact of funding and the high interest rates from commercial banks on affordability of homes, he said, the firm is targeting funds from individual investors to provide affordable homes
for majority of Nigerians.
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This initiative, he said, entails pulling funds from the public in a form of crowd funding, in which both investors and the developer will benefit maximally against paying cut throat interests to financial
institutions.
Dr. Raphael-Monehin listed Honeywells Garden, Ijegun, Lagos, which goes for N13.5 million for two bedroom and N15.5million for a three bedroom bungalow as one of such affordable projects at the stable of the company. The project, he said, is solely crafted towards enabling subscribers owning their dream home as soon as possible by granting them relief from paying house rent and freedom from killing interest rates.
There were also Honeywells Gardens in Uyo, Akwa Ibom State, Magboro and Agbara in Ogun State as well as Maryland, Agbowa, Ketu and Lekki areas of Lagos, where subscribers could pay five years install mentally with an initial deposits of 30 per cent as well as enjoy a 15 years mortgage plan at 30 per cent equity. Guaranteeing the security of investors’ fund, a litigation lawyer and the company’s legal adviser, Ufikairom Uzono, said the company has vast expanse of landed and housing projects across the country, which are bankable.
According to him, these projects have verifiable titles because extra judicial steps were taken to ensure that the company do not buy fallacies as landed property. He stressed that Tobykemsworth Investment Limited’s operations are
rooted in integrity and diversified portfolios like Add-Core Engineering and Construction, Cold-Woods Furniture’s and Fittings, Stone- Wells Water Management and Engineering with clientele across major the country.
Also, the firm’s head of finance, Mr Sola Kehinde said investors’ funds are well protected because of the integrity and structure put in place to guarantee returns in investment. He said there are a lot testimonies to guarantee confidence of the investing public in the firm.
Caption of attached picture below, Legal adviser, Tobykemsworth real estate investment company, Barrister Ufikairo Uzono (left); Managing Director of the firm, Dr. Adekunle Raphael-Monehin; Corporate Relations Manager, Mrs. Kemi Raphael-Monehin and Head of Finance, Sola Kehinde at the briefing.
