Ms. Precious Adaobi Okechukwu, chief executive officer, Haviland Real Estate Worldwide Ltd, added innovation to the immense reserve of financial and human resources at her command in 2022 to drive diaspora investment inflow into property development in Nigeria. Foreign exchange inflow is the effective response to the significant loss of naira exchange value and severe dollar scarcity in the year, which Okechukwu led the way in the real estate industry.
For her, the weakness of the naira made Nigeria and Africa investment heavens for people and organisations outside the continent to buy and invest in real estate assets, as the low exchange rate of the local currency creates outstanding returns. She created the opportunity for the investment inflow through Haviland’s estate development project in Banana Island selling at between $450,000 and $550,000 with initial deposit of $200,000.
The company launched an aggressive investment drive for partnerships, investors and clients to invest in the project that promises a guaranteed return of 300 percent in 2 years based on the current local market value. Despite the economic and operating difficulties in the year, the company was able to create and market a stimulatory investment package of that magnitude in Nigeria.
Okechukwu describes the project as one of her company’s most luxurious apartments and maisonette and one of the wealthiest estates in the world. The Island, she said, presents a peaceful and tranquil atmosphere and a home for the country’s wealthiest families.
According to her, “the features include incredible infrastructures, 24 hour-electricity supply, extremely tight security, good road layout, central sewage system and treatment plant. There is also a Games Park for children, and the well-cherished company of fellow wealthy folks, rooftop and infinity swimming pool, extremely massive living room with an ante room and visitors’ toilet, personal gym, automated control system for sounds, lights, air-conditioners and others, fully fitted kitchen with gas cooker and heat extractor.”
The company also initiated another estate development project in the mainland located at Ajao Estate, close to the Lagos International Airport, which comes in packages of 4- bedroom duplex and sells for $138,000 per unit. The company stated that the structures come fully solar-powered with 24-hour electricity supply, extremely massive living room with an Ante room and visitors’ toilet with a scenic view of the airport, external terraces on all floors, private office, large dining area, private gardens and external void that goes from second floor to the ground floor.
The company’s offers represent a positive impact in the nation’s economy to build momentum towards its target of raising one million landlords within the shortest possible time and drastically reducing housing deficits in the country.
Its plan to accomplish this is through the opportunity it is offering to partners and investors around the world to become co-owners of the projects by investing a minimum of $12,500 within 12 – 24 months and getting a 10 – 45 percent return on the investment.
It is its own strategy to empower people to beat spiraling inflation through investing in Nigeria’s real estate that Okechukwu described as one of the most rewarding in the world. “Lagos is a very good place for real estate business when you invest wisely, you get your returns very fast”, she said.
She assures that Nigeria’s real estate industry never depreciates but instead increases in value with a 300 percent return over 18 months to 2 years. Returns on investment also comes by way of rental income of as much as N5 million annually and rising in addition to rapidly increasing property values. Property values could rise from N5 million to N7 million in six months in some locations, according to the company’s statement.
Her mission is to make more and more people in Nigeria and around the world become aware of the exceptional rate of return that the industry offers here and, in the process, continually pool together large investment capital to grow the industry and the economy.
The company has seen significant growth over the past four years of its existence with completed projects in Westend Estate, Ikota and Lekki, Lagos and three active projects in Ikota Villa Estate, Sangotedo, Ajao Estate and Ikoyi, Lagos.
The company sells both lands and houses and also partners with other real estate developers to market genuine properties. Ownership of its housing units is open to everyone across the world.
How has the company been able to make so much impact in the real estate industry in just four years of its entry in 2018? Okechukwu said it is a combination of smartness with innovation that produces the results. She also speaks of a mix of customer satisfaction and integrity generating a stream of customer inflow into the housing projects of the company.
Underlying the excelling qualities are her zeal anchored on her vision to build one of the biggest real estate companies of choice in Nigeria. She is determined to be a major part of a sustainable solution to the estimated 29 million housing deficits in Nigeria’s real estate market. She wants to be counted among the key actors in sourcing the estimated N60 trillion the nation needs to bridge the housing gap.
The company is fast racking its ambitious home ownership programme with its innovative home finance fintech ranked as the Nigeria’s first online mortgage platform with payments made through e-naira and crypto currency. The home finance arm provides long-term payment plans to prospective homeowners with the goal of raising 5,000 homeowners in 3 years under the scheme.
The company also offers flexible payment plans to suit different clients’ needs. The payment plans range from six to 24 months while outright purchases attract discounts.
Okechkwu’s mission in real estate development is driven by her felt need to provide luxurious but affordable homes. It is a mission to raise the number of people that can own a home by providing houses at affordable rates and through a mortgage plan.
Her plan is to make it easy for a customer to spread mortgage payment over a period of 20 years. “Our vision is to make the average income earner a landlord”, she said.