•At Gateway Sparklight Estate Phase 2
•Opposite MFM Prayer City, On LAGOS/IBADAN Expressway
It’s the hottest deal everyone is talking about right now in the real estate sector. It’s an eye-popping offer by one of the most reliable property companies in Nigeria, Sparklight Property Development Company Limited. With just N600,000 you are guaranteed a unit of an apartment.
A few days back, City People Senior Reporter, ISAAC ABIMBADE, had a conversation with the Chairman of the company, Engr. Toyin Adeyinka, who is one of the biggest property developers in Nigeria. His company, Sparklight Property, a subsidiary of Sparklight Group, is over 32 years in real estate. Apart from that, Engr. Adeyinka is so passionate about real estate. His vision and desire is to make an average Nigerian a landlord. He is one of the few property firm CEOs who champion the cause of affordable homes.
Gateway Sparklight Estate Phase 2 is a new project of Sparklight company, the project is located at Magboro, along Lagos/Ibadan Expressway, a rapidly developing and serene neigbourhood in Ogun State. It is located directly opposite the Mountain Of Fire and Miracle Ministries, Prayer City and in the same neighbourhood with High Impact Planet Recreation Centre; a high profile recreation centre. The estate is about ten minutes drive from Ojodu, Ikeja, Lagos. With the ongoing eight-lane expansion of the Lagos-Ibadan expressway, it is expected that the value of the property would double within 24 months. Subscribers have opportunities of Flexible payment with 6% interest rate for as long as 20 years and above, through the National Housing Fund (NHF) Loan, provided by the Federal Mortgage Bank of Nigeria, according to Eng. Adeyinka in a short chat.
The Executive Director of the Company, Akunana Basil, also spoke with City People on the new offer. According to him “We have 2 projects that are on-going, one is Gateway Sparklight Estate Phase 2, Magboro and the second is Rockview Estate in Abeokuta. These two estates are all affordable.
The Gateway Sparklight Estate is located off Lagos/Ibadan Expressway, Opposite Mountain of Fire and Miracle Ministries, Prayer City, Magboro, Ogun State. The Estate is sitting on 21 hectares of land. The first phase is made up of bungalows, the second phase are highrise buildings. Now, we have 2/3-bedroom apartments and with a new concept of one-bedroom apartment. The one-bedroom apartment is one-bedroom, parlour, kitchen, and toilet. With a deposit of N600,000, you can take ownership of a unit. The total cost for the flat is N6 million, but with a deposit of N600,000 you can take ownership of a unit. The remaining N5.4 million comes through the National Housing Fund at 6 percent interest. For you to quality for it, you must be a contributor to the National Housing Fund. And for one to access the scheme, you must be a contributor to the scheme, either you are an employer or a self employed. You can even buy the property for investment. The estate has a lot of attractions. It shares boundary with Mountain Top University, Prayer City, (MFM) and Wemabod Estate. These are some of the attractions. Those who are living or working on the Island, this is the right time to invest in this project. And with the expansion of the Lagos/Ibadan Expressway, the site has become a good investment for those who live along the corridor.
In the next one or two years, the Federal Government would be done with the expansion of the road. And by then, driving from the estate to the Island would be less than 20 to 30 minutes. So accessibility matters.
“When we say affordability, people will be saying what makes our property affordable and the reasons are simple. We can source necessary materials within our company. We have the Labade Factory that takes care of wood work; the doors, the door frames, the furniture etc. We have the Amide bricks factory that gives us bricks; these are locally-made bricks that can withstand any weather. You talk of the mortgage arm, we have a Mortgage Institution that makes the issues of Mortgage quite flexible for everyone.
What is the Motivation behind the project? The motivation, I will say is the spirit of our Chairman, the man behind the project. He has that tenacity to break new grounds and he has been in the real estate sector for over 30 years and it has become his passion. When you have passion for something, you don’t look at that project just for gain; you look at it to provide shelter for people. And you know in Nigeria, we have accommodation issue. Our housing sector is under funded and we have a few Nigerians who are in the sector to support the policy of Federal Government in providing affordable housing and Chief (Engr.) Adeyinka is one of them. And it is that passion that drives all our projects to make sure we deliver on time. We advise interested subscribers to come down to our office, Sparklight House, KM2, Lagos/Ibadan Expressway, Isheri, Ogun State”.
Sparklight Property Development Company Limited is an indigenous firm of Real Estate Developers and Managers, actively involved in the development of residential and commercial properties all over the nation. The company was incorporated in 1996 as a subsidiary of Sparklight Engineering Company Limited (SECL), but has now assumed a status of a sister company by virtue of an increase in share capital and expansion of its operations.
Sparklight Property Dev. Co. Ltd. is equipped with highly qualified professionals and technical staff with tested techniques and innovations in housing delivery, and up-to-date technology for the execution of its projects. Its affiliation with Sparklight Engineering Co. Ltd. and Stallion Home Savings & Loan Limited, makes its task of housing construction, financing and marketing easy. Our capability in housing delivery is not in doubt. This is evident in our winning award of the Most Outstanding Estate Developer of the year 2010, South West Region by the Real Estate Developers Association of Nigeria (REDAN), The Best Developer of the year 2011” at the Abuja housing show organised by Fesadeb Communication Limited in conjunction with the Federal Mortgage Bank of Nigeria, Estate Developer of the year, 2015, by the Ogun State Government and Company of the year 2015 (Real Estate Sector) by the African Leadership (UK) Limited.