The comprehensive development of Planation City in Warri, Delta State will strengthen the real estate sector and help it become a major investment destination, said Managing Director of Delta Mega Trend Nigeria Limited, Mr. Sam Ogrih.
Previously, the oil city was a ‘no go zone’ for property investors due to security concerns and the reluctance of banks to back such ventures, leaving Lagos, Abuja and Port Harcourt as prime locations for prime developments. .
However, the doggedness of some real estate investors and developers like Delta Mega Trend had changed the trajectory of real estate in and around Warri.
The plantation town is located on 120 hectares at the Otokutu Delta Steel Company highway. According to the expert, the city is a perfect demonstration that Nigeria can develop its economic potential through real estate due to the multiplier effects that come with the construction industry as seen in places like Dubai.
At present, the city provides more than 650 jobs per day for craftsmen, plumbers, masons and electricians, reducing youth unemployment.
The mixed-use residential estate has a Certificate of Occupancy from the Delta State Government, operates a sites and services program, and promotes community and environmental sustainability for an indoor and outdoor living experience for those who enjoy it. really wish.
It is strategically located on a large expanse of land, a natural and serene environment where children are free to play in a gated and secure community, to ride bikes, where parents and residents also stroll in an extremely beautiful setting, peaceful and fully landscaped. green, clean and bright environment.
The town, which began in 2009, boasts of exclusive one-bedroom, two-bedroom and three-bedroom bungalows, semi-detached duplexes, exquisite self-express duplexes, a police station and food 24-hour uninterrupted power and rental areas with 40% occupancy. .
The developer, a graduate of the Harvard School of Design, Smart and Intelligence Housing, has made space management an integral part of the building’s design, using several development concepts and making infrastructure the key to housing construction.
According to the developer, the success of Plantation City spurred the start of South Brook Gardens, another property development near Airport Road in Warri, with a natural environment setting and design.
The estate uses smart technology and operates with 1.5 megawatts of independent power, drainage system and central water supply. The project, which started with loans of 100 million naira from Union Homes and personal savings, has attracted more than 20% foreign customers.
Speaking on the development, Ogrih said the city was driven by its determination to change the real estate landscape in Delta State.
He said what is needed to start the investment is not really capital but vision and determination as he only started with a 100 million naira facility.
According to him, the money was only released to him after his house in Lagos was used as collateral for the loan.
Ogril said the town of Plantation started its development with bungalows and the price was determined by the cost of infrastructure.
According to him, those who have joined the project are already reaping the rewards of their investments. He also pointed out that most materials used in buildings are produced in the city under strict controls to prevent buildings from collapsing.
He recalled that getting people to believe in the project was his biggest challenge as security was a big issue at the start of the project as most people were afraid to invest in Warri.
Ogril however expressed his joy that the city has changed the real estate narratives of Warri and Delta State as a whole.
One of the underwriters, Mr. Emmanuel Shegbaye, who applauded the vision behind the project, advised management to work with underwriters to ensure the sustainability of the estate.
According to him, subscribers should not be seen as spectators but as owners in the management of the city.