Casafina Development Announces Upcoming Residential Project Amid Economic Challenges

In an exclusive interview, Mr Seyi OlorunFemi, the CEO of Casafina Development Company Ltd, a leading real estate firm in Lagos, shared insights about the company’s upcoming residential project and its strategy to capitalize on the current economic climate.

Casafina Development, known for its focus on residential real estate, is set to unveil a new project in the coming days. According to Mr OlorunFemi, this public presentation aims to showcase the potential for profitable investments in Lagos, even in the face of ongoing economic difficulties.

The company has partnered with a mortgage bank and other financial institutions to offer flexible payment plans, catering to short-, medium-, and long-term investors. “Real estate, along with commodities and equities, are assets that can weather economic challenges such as high inflation and devaluation,” he emphasized.

“Our goal is to construct one of the finest residential real estate developments on the mainland,” stated Mr. OlorunFemi. “Despite the current economic challenges, we believe in the potential for profitable investments in prime real estate.”

Recognizing the increased cost of materials and its impact on property prices, Mr OlorunFemi believes that investing in real estate can serve as a hedge against the current economic climate. “Our properties have shown significant returns on investment within a short period, making them an attractive investment opportunity,” he said.

While acknowledging the housing deficit in the country, Casafina Development’s current focus is on building high-quality properties primarily targeting high-net-worth individuals. “We understand the need for policies that prioritize assisting a broader segment of the population, but our current focus is on providing opportunities for investors and homeowners to benefit from our projects,” Mr OlorunFemi explained.

The upcoming residential project, with a timeline of 24 months for the construction of 64 buildings, is expected to cater to the demand for premium real estate in Lagos. Additionally, the company’s commercial project at Ojota, known as the Chemical Plaza, consisting of 360 shops, is targeted for completion within 18 months.

Despite the economic challenges, Casafina Development remains optimistic about the long-term potential of the real estate market in Nigeria. “We believe in the potential for growth and success in this country, and we are committed to providing opportunities for both investors and homeowners to benefit from our projects,” Mr. OlorunFemi concluded.

In his remark, the United Chemical Dealers Association in Ojota expressed satisfaction with the launch of a new project at Chemical Plaza. After conducting thorough research, we have found the company to be reliable with a successful track record. This project will offer good security and create a conducive environment for businesses in the area. With affordable rent prices, we believe that an investment of 11.5 million will be recouped within 3 to 5 years, making it a lucrative opportunity.