We started the decking platform wood work today...........

We are moving with good speed here..........

Updates on the decking platform............

On this wooden platform, shall we craft our suspended slab........

Our reinforcement bars for the decking slab just arrived to site...........

Spyder nwanne, jisie ike. Ego ji oru!
Mana chere o!. What baffles me is how people justify the economics of this type of project from the prevalent rent regime in Enugu town.Or is it a case of "aku ruo uno"? Or is there something i am missing?

Natudu:
Spyder nwanne, jisie ike. Ego ji oru!
Mana chere o!. What baffles me is how people justify the economics of this type of project from the prevalent rent regime in Enugu town.Or is it a case of "aku ruo uno"? Or is there something i am missing?

My brother, the pace of building development in Enugu is furious, and it has a lot to do with the demand for finished homes. Almost all houses I finished in Enugu are all rented within weeks. I believe the economic angle is a strong point because stats had proven that income from rental property might not be very regular, but has been a dependable source of residual income, especially in the older people who may no longer have the strength to hustle.

The "aku ruo uno" factor is also a strong point, most of our people may never feel a sense of accomplishment till they own a big building to befit their status. We also love to keep something down for our future generation, a rental house is one of the best form of inheritance to leave for our loved ones.

Hmmmn. You have a point there.
I would like to know how much a 3 bed flat would go for in that fully developed site you are doing.

Natudu:
Hmmmn. You have a point there.
I would like to know how much a 3 bed flat would go for in that fully developed site you are doing.

About 375,000 per year for each flat. It could be more because of the location. This excludes lawyers agreement fees and agents payments.

spyder880:


About 375,000 per year for each flat. It could be more because of the location. This excludes lawyers agreement fees and agents payments.

With instability in the northern parts of the country, demand will soon outstrip supply! IMHO

bigjay01:


With instability in the northern parts of the country, demand will soon outstrip supply! IMHO

Its already happening, even at this stage, in our project here and in Onitsha, people are already coming to ask for accommodation, even when we have not done the first deck!

You have a point there but that can only drive that rent to about N400k a year. And I can easily guess the cost of this your 8 flats project. My Enugu won't sustain that rent for a long time since nothing much is happening there. It is a pure civil service state largely dependent on Abuja handout. The business community there are the low to medium income class. Except for major parts of independence layout, rents in excess of N300K is a rarity.
I have tried justifying doing rentals in enugu but my small ROI business sense keeps failing the model.
I bet my only target there, just like many others will be to make a home for my own since nowhere in the SE beats enugu for value for money.

Decking beam reinforcements............

All hands on the deck..............

spyder880:
Ladies and Gentlemen, we are still in the business of building affordable housing all across the nation, we move to yet another site for this new building starting this week.

Project: Construction of a block of 8 flats of 3 bedrooms
Location: Enugu urban, Enugu state of Nigeria
Client: A nairalander
Contractors: Tigerkenn Homes Ltd
Budget: To be revealed later.

Actual work on this site starts soon as we start with preparations for the full construction of this beautiful building.

A picture of the new site............

If you have left over iron , i will buy ... I need it for my project 1 ton 12mm

Decking floor reinforcement details............

More reinforcement..........

Updates from this decking reinforcement............

Electrical piping works going on.

Good my Oga in the house, I will appreciate if u can suggest the likely design I can do at the top of the Porsche ,to beautify it. I will appreciate your suggestion and critics. Thanks . this is just a kobo kobo project by your boy

Spyder, that house behind your project is not a bad one too

omanzo02:
Spyder, that house behind your project is not a bad one too

Yes, the design was supposed to be fine but the final finish is horrible. I shudder each time I look at that house.

Internal beams, electrical piping, and staircase wooden forms............

Chipping, sand, set to cast............

More as we start casting...........

Oga Spyder, the rods arrangement are very close and neat I keep wondering how many pieces length of rods it must have taken to achieved that?

Natudu:
You have a point there but that can only drive that rent to about N400k a year. And I can easily guess the cost of this your 8 flats project. My Enugu won't sustain that rent for a long time since nothing much is happening there. It is a pure civil service state largely dependent on Abuja handout. The business community there are the low to medium income class. Except for major parts of independence layout, rents in excess of N300K is a rarity.
I have tried justifying doing rentals in enugu but my small ROI business sense keeps failing the model.
I bet my only target there, just like many others will be to make a home for my own since nowhere in the SE beats enugu for value for money.

Bro rent in thinkers corner is from 400k to 600k... there no new 3bedroom below 400k in transekulu there's even 1 mill apartment in New haven... it depend on class of d house shaa.

And so we start the decking slab casting.............

The decking is now completed, we prepare for the next stage............

Oga spyder, very big greetings..... Please want 2 know if 65million will be able 2 complete exactly this project, including land and moderate finishing in that area.....

ezesj:
Oga spyder, very big greetings..... Please want 2 know if 65million will be able 2 complete exactly this project, including land and moderate finishing in that area.....

I think its very possible, but getting land in this particular neighborhood will be tough, the whole streets have houses on them.

Please send me a whatsapp chat on 0803 335 0750. Thanks.

We start to raise the walls here..........