Connect with us

Business

10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong

Published

on

10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong

10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong

 

 

PROPERTY IN LAGOS– Investing in real estate, especially in a fast-paced market like Lagos, requires careful consideration and strategic planning. One option that has gained popularity in recent years is purchasing off-plan properties. These properties are purchased before construction is completed, offering potential buyers a chance to secure a property at a lower price. However, when it comes to off-plan purchases, patience is a virtue that cannot be overlooked. In this article, we will discuss five compelling reasons why patience is crucial when buying an off-plan property in Lagos.

 

 

 

1) Comprehensive Research and Due Diligence:

 

Buying an off-plan property necessitates conducting thorough research and due diligence. From verifying the developer’s track record to assessing the property’s location and potential market value, patience is essential in gathering and analyzing all the necessary information. Rushing into a purchase without adequate research can lead to unfavorable outcomes, such as investing in a poorly constructed property or an undesirable location. Patience allows you to make informed decisions based on reliable information, ensuring a successful investment.

 

 

2) Property Development Timeline:

 

One significant aspect of purchasing an off-plan property is the waiting period until completion. Developers provide an estimated timeline for completion, but unforeseen circumstances can often lead to delays. Patience is essential during this waiting period, as it allows you to manage your expectations and avoid unnecessary stress. Being patient ensures you are prepared for any potential delays and gives you the mental fortitude to handle unexpected challenges that may arise during the construction phase.

 

 

3) Potential Price Appreciation:

 

One of the main advantages of buying off-plan is the potential for price appreciation. As the property progresses through the construction stages, its value can increase significantly. Patience is crucial in capitalizing on this potential appreciation. Rushing to sell the property immediately after completion may lead to missed opportunities for substantial profits. By exercising patience, you can maximize your return on investment by waiting for the optimal time to sell or lease the property.

 

 

4) Customization and Personalization:

 

Purchasing an off-plan property often offers the advantage of customization and personalization. You can work with the developer to make design choices and select finishes that align with your preferences. However, this customization process requires patience. It involves multiple consultations, design revisions, and coordination with the developer. Being patient ensures that you make thoughtful decisions and end up with a property that truly reflects your vision and meets your requirements.

 

 

5) Secure Better Financing Options:

 

Buying an off-plan property in Lagos requires careful financial planning. Patience plays a crucial role in securing better financing options. Taking the time to research various lenders, compare interest rates, and assess your financial capacity allows you to secure favorable mortgage terms. Rushing into financing decisions without patience can result in higher interest rates or unfavorable loan conditions, affecting the long-term financial viability of your investment.

 

 

6) Mitigating Risks and Ensuring Quality:

 

Patience plays a vital role in mitigating risks associated with off-plan property purchases. By taking the time to thoroughly review contracts, warranties, and guarantees, you can protect yourself from potential pitfalls. Patience allows you to assess the reputation and credibility of the developer, ensuring that they have a proven track record of delivering quality projects. Rushing into a purchase without exercising patience increases the chances of encountering construction issues or disputes that could have been avoided with careful consideration.

 

10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong

7) Capitalizing on Early Bird Discounts and Incentives:

 

Developers often offer attractive early bird discounts and incentives to buyers who commit to purchasing off-plan properties at the pre-construction stage. Patience is key in capitalizing on these benefits. By patiently waiting for the right opportunity, you can secure a property at a more affordable price or take advantage of additional perks such as payment plans, furniture packages, or waived fees. Rushing into a purchase may result in missing out on these advantageous offers.

 

 

8) Market Observation and Timing:

 

The real estate market in Lagos is dynamic, and market conditions can fluctuate. Patience is crucial when it comes to market observation and timing. By patiently monitoring market trends, you can make an informed decision about when to enter the market and purchase an off-plan property. Waiting for favorable market conditions can potentially lead to better pricing, increased demand, and improved resale or rental prospects. Rushing into a purchase without considering market dynamics may result in an investment that doesn’t align with market realities.

 

 

9) Building Relationships with Developers and Agents:

 

Developing strong relationships with developers and real estate agents takes time and patience. By patiently networking and connecting with industry professionals, you gain access to a broader range of off-plan property options and valuable insights. Building relationships also increases your chances of receiving exclusive offers and being notified of upcoming projects before they are publicly announced. Rushing the process may limit your networking opportunities and hinder your ability to access the best off-plan property deals.

 

 

10) Emotional Preparedness and Peace of Mind:

 

Buying an off-plan property is a significant investment that can evoke a range of emotions. Patience allows you to be emotionally prepared and maintain peace of mind throughout the process. Taking the time to reflect on your financial goals, considering the risks and rewards, and understanding the potential challenges helps you approach the purchase with a calm and rational mindset. Rushing into a decision without patience may lead to regret or anxiety if unexpected hurdles arise.

 

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

 

Business

BUA Group Donates Headquarters to NWDC, Boosts Tinubu’s Regional Development Agenda

Published

on

BUA Group Donates Headquarters to NWDC, Boosts Tinubu’s Regional Development Agenda

BUA Group Donates Headquarters to NWDC, Boosts Tinubu’s Regional Development Agenda

 

In a bold gesture of private-sector support for regional growth, BUA Group has officially handed over a fully equipped multipurpose building to the newly created North-West Development Commission (NWDC) to serve as its temporary headquarters in Kano State.

The handover ceremony, held at the facility on Court Road, Kano, drew prominent figures from the public and private sectors, including Commission officials, community leaders, and BUA representatives.

Speaking on behalf of the Founder and Executive Chairman of BUA Group, Abdul Samad Rabiu, his son Khalifa Abdul Samad Rabiu described the gesture as a practical show of BUA’s commitment to inclusive national development.

“At BUA, we believe inclusive development starts with providing institutions the tools to succeed,” Khalifa said. “This donation by my father is more than just bricks and mortar—it’s about laying a foundation for people-centred growth in support of President Bola Tinubu’s Renewed Hope Agenda.”

Chairman of the North-West Development Commission, Alhaji Lawal Sama’ila Abdullahi, hailed the donation as “strategic and timely,” adding that it would help the Commission hit the ground running in its mandate to accelerate infrastructure and economic growth across the North-West.

“This support from BUA is not just generous—it is strategic. It gives us the necessary momentum as we commence the Commission’s work to transform lives and unlock the immense potential of the North-West,” he said.

The donation complements an earlier ₦3 billion land parcel provided by the Kano State Government for the Commission’s permanent headquarters, underscoring a growing coalition of support for the NWDC.

With this move, BUA Group continues to champion public-private collaboration as a critical driver of sustainable development in Nigeria.

Continue Reading

Business

Elite 18 global golfers honours Aare Adetola Emmanuelking with Nigeria’s first ever Noble Golfer award

Published

on

Elite 18 global golfers honours Aare Adetola Emmanuelking with Nigeria’s first ever Noble Golfer award

In a landmark celebration of sportsmanship, leadership, and vision, Aare Adetola Emmanuelking, the esteemed Chairman and Chief Executive Officer of Adron Homes and Properties, has been honored with Nigeria’s inaugural Noble Golfer Award. This prestigious accolade was conferred upon him by the renowned Elite 18 Global Golfers during a high-profile event that brought together key figures from the sports, real estate, and business sectors.

The Noble Golfer Award recognizes individuals who have shown steadfast dedication to advancing the game of golf and promoting sports culture in their communities. Aare Emmanuelking’s nomination exemplifies his exceptional commitment to enriching the golfing landscape in Nigeria, alongside his broader initiatives aimed at fostering sports development across the nation.

Aare Emmanuelking is not merely a business leader; he is a pioneer in integrating golf into modern lifestyle experiences. Currently, he is leading the ambitious development of a state-of-the-art golf course in Nigeria a monumental project that aspires to redefine leisure, tourism, and sporting excellence within the country. This golf course aims to provide a premier playing experience while also serving as a social hub for golfing enthusiasts and the community at large.

In a bid to make golf more inclusive and accessible, Aare Emmanuelking has also initiated the construction of advanced golf driving ranges in all Adron Homes Estates across Nigeria. This visionary project is designed to encourage participation in the sport among Nigerians of all ages and backgrounds, fostering wellness, recreation, and community engagement as integral parts of Adron’s residential developments.

At the award presentation, Aare Emmanuelking conveyed his heartfelt gratitude for the recognition, emphasizing his belief in the transformative power of sports as a vehicle for national development and youth empowerment. He remarked, “Golf is not just a game; it exemplifies discipline, a distinct lifestyle, and a pursuit of excellence. Through Adron Homes, we are not merely constructing houses—we are nurturing communities built on the foundations of wellness, unity, and opportunity.”

The Elite 18 Global Golfers commended Aare Emmanuelking’s innovative approach, highlighting how he effectively merges real estate advancements with world-class sports infrastructure. They acknowledged that his efforts have the potential to inspire a new generation of golfers and to position Nigeria as a premier destination for international golfing events.

As Aare Adetola Emmanuelking continues to break new ground in both the real estate and sports development arenas, receiving this award serves as a testament to his lasting influence—not only in the realms of business but also in cultivating a legacy of excellence, one fairway at a time. His contributions are poised to create lasting change, inspiring future generations and fostering a vibrant culture of sport and community in Nigeria.

Continue Reading

Bank

WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen

Published

on

WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen

Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right?

My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion which was primarily caused by a 106.9% increase in interest and similar income. Was I impressed? Absolutely

Now to the scary part, they opened the year with a bang implying that 2025 year end results was going to be nothing but spectacular; check this out-Fidelity reported a whooping 167.8% increase in PBT (Profit Before Tax)to N105.8 billion in Q1 2025, compared to N39.5 billion in Q1 2024. Gross earnings from January to April had reached some N315.421 billion signaling a 64.21% increase year-on-year.

These results were nothing short of astonishing and with great hope I sat my team to review our Investment Strategy to accommodate taking up equities in Fidelity and advising our portfolio investors to do same.

We quickly appraised the fundamentals and Key Success Factors to include their focus on the strategic youth economy that the Creative and Digital Transformation sector promises, the banks bullish inroads in MSME promotion and financing, their glowing penchant for Gender inclusion without abandoning the core sectors of Mining, Renewables and other key industries

Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the industry; done this, achieved that and all the entreaties you’d expect from smart ladies who feel mentored from a distance. I didn’t hesitate to draw their attention to the experience of the menfolk within the organization like I had any measurable data to establish that mix…truth remains you can’t but admire the Banks Leadership and strides

A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank,London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact would give competition and detractors sleepless nights. Not in an era where sleeping pills are sold strictly by prescription and no thanks to the high cost of medication for peddlers of cheap propaganda

Within barely 30days of announcing such magnificent results little wonder how pundits would cook or spin a narrative to suggest a bank that has announced herself as First Tier with shoulders leveled up with other Banking giants would shudder over a judgement against her customer G.Cappa or even the contribution they would be required to cough out over that said Sagecom saga. With that judgement not going the way of pundits a contemptuous attempt at calculating interest at unclassified rates from an initial N14b to cause an unnecessary scare or negative press on the bank speaks volumes of how we unrepentantly strive to destroy value in our economy.

One would think that interpretation of the judgment and computation of due figures which will understandably come with a payment plan be awaited instead of the usual bad blood generated and envisaged by toddler media characters.

It is not in doubt that the discerning public sees through the cruise and flat falling attempt of dramatic clout chasers ever ready to stain Fidelity’s white apparel which savvy Investors and analysts are filled with bridal admiration

Like Joseph Campbell hinted in his famous quote “The cave you fear to enter holds the treasure you seek.” We cast our treasures and bets on Fidelity Bank as the Nigerian treasure house to beat in the years ahead!

*Udeme Etukeyen is an Abuja based Pan African Investment Advisory Expert*

Continue Reading

Cover Of The Week

Trending