Company reaffirms plan to build 1000 'Lease to Own' houses

folarin okunola

May 8, 2015 10:45 AM

Emphasizing on the benefits of the LtO, Reis who is a former FHA boss, stressed that the scheme is aimed at households who do not qualify for mortgage loans.

A group of residential apartments

A Lagos-based real estate firm, First World Communities Limited, that spreads the gospel of delivering affordable homes to low and medium income groups in the country has restated its commitment to its mandate of providing affordable homes for the Nigerian populace.

To make this happen, the company, through its Lease-to-Own (LtO) scheme which functions through a corporate partnership with the Lagos State government, is projected to deliver 10,000 housing units in the state.

The chairman of the company, Brigadier-General Tunde Reis (rtd) made this known at the company’s board of Directors meeting held last week, and said the company is uniquely placed to increase the populace’s access to affordable homes in Lagos state.

Emphasizing on the benefits of the LtO, Reis who is a former FHA boss, stressed that the scheme is aimed at households who do not qualify for mortgage loans. Advantages of the scheme included; low deposits and flexible re-payment period, which makes it ideal for low and medium income families.

folarin okunola