In its efforts to meet the growing demands for accommodation in Lagos state, one of the leading real estate and Infrastructure companies in Nigeria, Messrs Brains and Hammers Limited, has begun a strategic expansion of its operations by making a bold entry into the real estate market in the Centre of Excellence.
The firm has entered into partnership with the Lagos State government which has led to a plan for the development of 750 housing units (made up of 132 tower units and 618 newly built units) at the Jubilee Estate in Iganmu through a public private partnership model.
Phase 1 of the project comprises a total of 129 units (consisting of 12 units of 2 bedrooms, 24 units of 4 bedrooms terrace and 93 units) and twin towers 132 units (consisting 60 units of 1A bedroom, 24 units of 2 1B bedroom, 24 units of 3 bedroom masionette.
Brains and Hammers’ entry into the Lagos real estate business comes at a time that the state government is eager to close the gap in the housing deficit in Lagos State which stands at over three million.
Speaking on the partnership, Lagos State Commissioner for Lands and Housing, Prince Gbolahan Lawal, said, it will relieve the government in the face of scarce financial resources; while will providing employment opportunities, thereby bringing a major democracy dividend to the community.
The project which is ongoing has created 200 direct jobs and about 1000 indirect jobs in the area which is dominated predominantly by the informal sector practitioners such as artisans, labourers, traders and food vendors, is also to drive urban redevelopment in the area.
“This project will result in increased property values in the surrounding environment and a re-positioning of the current site from one which currently offers little value to a highly sought after and well-built residential development”, he said.
According to Prince Lawal, in order to bridge the gap about 200,000 housing units must be delivered annually in the next five years. He emphasized that government alone cannot deliver the required units of houses hence the need to inject private capital into the housing delivery.
“To achieve this purpose, the state government has made land available to prospective private developers who have exhibited technical and financial capabilities for the delivery of affordable housing units”, Lawal stated.
Commenting on the project, Chief Operating Officer of Invest Homes, (a subsidiary of Brains and Hammers), Mr. Ibrahim Wushishi, hinted about another development which the firm has embarked on along the Lekki corridor.
According to him, “the Iganmu and Lekki estates will be a major statement on the company’s readiness to play big in the Lagos real estate business.
“We are not leaving anything to chance. We have a reputation that goes far ahead of us. Extending the tentacles of our presence to Lagos is a calculated move to entrench the presence of the company in Nigeria’s commercial capital.”
Brains and Hammers has an enviable portfolio which consists of over 2000 completed residential homes across Nigeria and ongoing work in over 3,000 more. One of its most ambitious development to date is the Brains and Hammers City in LifeCamp Abuja, The 3500 units City will cater to mid and high-level residents at affordable prices. Some of the facilities at the Ultra modern Brains and Hammers City will include restaurants, schools, banks, a 5-star hotel, high end security facilities, jogging tracks, gyms and swimming pools amongst many others.
Its current development portfolio consists of residential projects within Lagos and Abuja. The sites include Life Camp, Galadimawa, Gwarimpa, Apo I, Apo II, Apo III, Apo IV, Apo V, all in Abuja and along the Lekki corridor in Lagos.
The company made an enviable name for itself for building world class residential cities in Abuja with solid infrastructure and social amenities that work.