A Case Study of Eko Atlantic City
The Eko Atlantic Metropolis, also known as the International Trade Center of Nigeria, is an innovative coastal city located in the heart of the Victoria Island district of Lagos, Nigeria. With its awe-inspiring infrastructural design that houses world-class large-scale financial, residential and commercial developments, the coastal city has become an undeniable creator of wealth accumulation opportunities.
Individuals, companies and organizations have benefited enormously from the project by taking advantage of the possibility of acquiring land for private development or investing with real estate companies that develop properties in the metropolis.
Today more than ever, investors who wish to diversify their portfolio by investing in luxury residential transactions have much to hope for by becoming a shareholder of Eko Atlantic.
This is due to the enduring and exceptional selling points of the coastal city, including; being a large metropolitan area designed to be sustainable and self-sufficient, labor markets and workspaces, increased home equity, availability of various utilities and services, 24/7 independent power supply, process deed of transfer and building approval seamless, fiber optic communication connections to every plot of land among many other benefits.
Eko Atlantic has been specifically designed as a focal point for investors who choose to leverage luxury developments. What should potential stakeholders looking to enjoy portfolio diversification and massive returns by buying in the beautiful metropolis of Lagos have in mind?
Investments are made for the sole purpose of generating a good return on investment. The expected return on investment inadvertently depends on the objectives attached to the investments.
With the specificity of investing in luxury real estate, it is advisable to identify specific objectives taking into consideration the time to be allocated to investment management, the investment budget, the preferred investment style, the risk tolerance and investment purpose.
Small scale details of the property should also be assessed. This includes factors such as price per square foot, price to rent ratio as well as fluctuating property prices over the past five or six years.
Luxury real estate investments are capital intensive and determining the means of financing available is one of the main considerations. They can be funded in different ways. One option is to own the property debt-free if sufficient cash is available. Otherwise, an alternative is to acquire investment loans from banks and other financial institutions.
Loans for this purpose usually come in the form of hard money loans. These are easily approved short-term loans designed to be repaid in a few months. These loans are excellent financing options if the property you are investing in increases in value significantly after a few months.
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Investing in luxury real estate requires clear research and evaluation of market options. Valued at approximately $300 million, Eko Atlantic is a world-class initiative that offers various market options for investments. Its modern, state-of-the-art design makes it a destination point for high-end real estate developers and buyers who are drawn to its extravagant features, opulent amenities, grand architecture, heightened security, privacy and atmosphere. overall idyllic – all offered by various properties represented by different market options.
The preferable choice is to choose luxury properties that fit a preferred investment style and budget and have a high chance of increasing ROI over time. Finding these properties is one of the many areas where investing with a trusted real estate company, like Arkland Group, comes into play. Arkland’s luxury offerings range from penthouses, apartments, duplexes, residential towers and mansions – all the options market investment opportunities available with Eko Atlantic’s first purely indigenous real estate company.
Navigating the waters of luxury real estate investing can be tricky. It is advisable to partner with the right real estate company that develops high-end properties in the coastal city. Established real estate companies, like Arkland Group, have vast experience and expertise that serve to provide high-level advice on investment processes and secure lucrative returns.
Arkland Group is a real estate development company and the first native real estate developer to build towers in Eko Atlantic City. With over 300 housing units developed and 8 construction projects underway in Nigeria, it has earned a reputation as a leading real estate company and property developer with a focus on sustainability, longevity and quality of life.
Umana, Sales/Client Services Manager, Arkland Properties & Investment, writes from Lagos