KINGBuilder unveils a new Land Ownership Scheme.

A Lagos-based firm of property developer, Messrs. Kingbuilder Marketing Mangement Limited, has adopted an innovative strategy in marketing "Kingbuilder City" one of the organisation’s latest Land Ownership schemes.

Located at Atan-Ota, Off Agbara Road in Ogun State and Ibeju-Lekki, Eleko Junction within the Lekki Free Trade Zone, the estates entails a dual approach involving the allocation of plots to subscribers prior to payment on one hand, and followed by an outright purchase (payment) of the product on the other.

A plot of 648square metre (sqm)-size land is going for a promo price of N550,000 and N1,500,000 respectively for Atan-Ota and Ibeju-Lekki offers, instalmental payment also available within 12months. Kingbuilder officials emphasis that, the allocation of plots is effected 24 hours after confirmation of the payment. The price-tag will, however, revert to N850,000 and N2,500,000 for outright payment upon the expiration of the offer.

Marketing Manager at Kingbuilder, Eddie Alegbe, shed some light on what informed policy. He said: "It has been a norm recently where people pay for landed property, but have to wait for a long period of time before getting allocation. Some even go as far as involving the law to settle disputes for delays or being defrauded. As a result of this incident, a lot of individuals are sceptical when it comes to investing in landed property.

"It can be so worrisome when one pays for a landed property and have to wait endlessly to take physical possession. At Kingbuilder, our word is our bond. We are sensitive to the needs of our clients and that is why we are offering you your plot immediately after payment."

Customer Service, Stella Owotuga, said that work had already commenced on infrastructure works in the estate, adding that the scheme would be "100 per cent ready in 24 months."

According to her, subscribers are expected to fully mobilise to site and commence the development of their site "within six months to one year." She countered rumours making the rounds that the Real Estate Firms don’t keep their words. People should remain focused and positive. “We (Kingbuilder) are credible, and we have kept every promise we have made in the past."

The general Manger, Ogbemokan Augustine emphasised that facilities such as perimeter fencing, road network, drainage, green belt, street lighting, electricity and recreation centres has commenced in the estate, and that group allotment is permissible in the case of registered co-operative societies or companies. With the gatehouse already in place at the estate, drainage and electrification works are ongoing, while security officials are being mobilized to site to speed up the process of making the estate habitable.

Subscribers are encouraged to commence development on their plots before conclusion of payment of the development fee, Eddie Alegbe stated, adding that other payable fees include those for survey and legal documentation.

He said: "Subscribers are expected to commence appreciable development of their properties within six months to one year of receiving their Letters of Allocation, failing which they stand the risk of having their plots reallocated to other subscribers who are ready to develop while the delaying subscriber will be allocated another plot within the estate."

Kingbuilder City, Ibeju-Lekki is within Lekki free Trade zone is the new face of opportunity in the project “New Lagos” where the investment of the future start now.

Though the initiative is yet to commence, Kingbuilder is planning to embark on the physical construction of homes at Kingbuilder City, Atan-Ota, off Agbara Road and at Ibeju-Lekki under the build and pay package, where beneficiaries will pay an initial sum representing 20-30 per cent of the total cost of the property to take possession and move in, while the rest is paid back within 48 months.
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