In a move that clearly defies current market realities in the Real Estate sector – where developers are reluctant to continue with ongoing projects owing to the current state of the economy, Alpha Mead Development Company (AMDC) has reached an advanced stage in delivering its tech-driven Lekki Pearl Estate.
The milestones which is a prove of the company’s integrity, accountability and promise to its customers and investors was achieved, using the Cast-in situ modular building system – a technology currently delivering affordable housing at an impressive speed in over 45 countries.
The pre-engineered modular system, which the Managing Director/CEO of the company, Engr. Femi Akintunde said will revolutionize housing delivery in Nigeria; is an all-walls-bear-load construction systems otherwise known as Cast-in situ, which has the ability to deliver a Shell housing unit within an impressive 10 to 30 days.
Speaking at the First edition of the Open House Forum for 2017 held on the site of the project over the weekend, Akintunde told customers and stakeholders of the project: “when we started construction, we were delivering housing at an average of 21 days, but today, we are now delivering at an impressive nine days. This accounts for the rapid development you are seeing on site”.
“When we had the fourth quarter edition of this forum in 2016, most of the housing units that are standing here today were at the foundation level. Today, I can report to you; we have completed 18 units of block of flat, 20 units terrace apartment, and 12 units of the semi-detached apartment are at the roofing level”.
On his part, Damola Akindolire, Executive Director, Real Estate Development, Alpha Mead Facilities (AMFacilities) revealed that despite the current challenges plaguing the Real Estate sector and the economy at large, the company have remained committed to its promise to remain accountable and transparent to the customers.
“While we are happy to be able to keep up with our promises to our customers, we must also put things in perspective. We navigated through a host of challenges in bringing this project to its present state. Key among these challenges is the fluctuation in the value of Naira against the Dollar. In spite of the challenges, our team has work tirelessly to develop a strategic approach that will help manage the increasing cost of project delivery,” Akindolire noted.
“This for us is one of the ways we have continued to keep faith with our customers; without making further demands or escalating the prices of our housing units. Rather, we have concerned ourselves with our commitment of meeting our customers’ expectation by delivering nothing but tastefully finished quality homes,” he added.
According to him, the quality of the housing units at the estate speak for themselves. “With a minimum of 50 years defect liability period cover on buildings constructed with our type of technology, we have redefined what it means to deliver quality homes for Nigeria’s rapidly growing middle class. And this has only been possible with the support of our partners, who have continued to play a significant role in the course of this project”.
Also speaking at the event, Head of Business Development, AMDC, Damola Oguntoyinbo, said bridging Nigeria’s current housing deficit estimated at 17 million has clearly defied conventional building methods, hence, the need for developers to think outside the box and embrace alternative building systems which deliver housing units at a faster pace and a moderate cost.
“This is the challenge AMDC has taken upon itself: to stimulate the Real Estate landscape by investing in the requisite manpower, materials and employing prefabricated building systems to deliver a functional lifestyle community. With buildings like ours, the homebuyers are assured of premium value and unparalleled comfort, because we have given so much consideration to the aesthetics, facilities and infrastructure that are present in Lekki Pearl”, Oguntoyinbo noted.
Lekki Peal is a functional and qualitative 112 unit residential development developed by AMDC; a Strategic Business Unit of leading Facilities Management Company, Alpha Mead Facilities (AMFacilities).
AMDC is a Real Estate Development, Asset Management and Advisory firm established to be a major stakeholder in bridging Nigeria’s huge housing gap with quality and affordable homes, by partnering with global brands to deploy capacity and technology that can now deliver homes at an average of 10 days (post foundation), reduce cost of construction to between 10 and 20 percent and cut material wastage to near-zero level.