TheCable

Propertymart Real Estate Investment Limited, a real estate company, has assured prospective homeowners that it is committed to the timely delivery of quality houses at its Cityview Estate in Arepo, Ogun state.

In a statement, Deji Fasunwon, Propertymart managing director, said the company has delivered over 85 percent of houses across all its housing projects in key cities and towns in Nigeria.

Fasunwon assured investors that all on-going housing units across the country would be completed and handed over to them before the end of 2019 while commending the clients for their patience.

He explained that though Propertymart, like many businesses, “experienced the harsh operating environment occasioned by the 2016 economic recession”, it has consistently looked inwards and innovatively devised ways to achieve its objectives of ensuring client satisfaction.

“Propertymart is a significant player in the Nigeria’s real estate sector, and since 2008 we have provided real estate solutions in Lagos, Ogun and the Federal Capital Territory (FCT). Our key housing projects include Cityview Estate, Arepo; Edensville Estate, Simawa; Fairmont Apartment, Lekki; and Fairmont Hilltop, Alagbado amongst others,” Fasunwon said.

Some of the houses developed by PropertyMart

“As a company with integrity, the management refused to do what an average real estate company in such situation would do; like asking its customers to come and pay more for the houses they had subscribed to, or refund the monies received from customers. The company believed that of more importance is the achievement of the dreams of its customers irrespective of the challenges of the times. Rather than the company exploring the easy way out, it decided to ensure whatever it took to deliver properties subscribed to by its customers.

“One major step taken by the company was to dispose of some of its stock trade meant to be reserved for profit in the future. These included plots of land in prime locations in some of its estates and also some of its other properties. Efforts are yielding good results as it has resulted in delivering properties to customers. The company is constrained to work with only a few reliable and trusted contractors to ensure quality to its customers. The effect of this delay, expectedly, led to dissatisfaction of many of the customers who had subscribed to different products and were expecting delivery of same.”

Fasunwon added that rather than introduce new housing estates during the recession period, Propertymart focused on achieving delivery of most of its backlogs.