PROPERTY NEWS

AN indigenous real estate developer, Spring Estate Nigeria Plc, is developing a housing estate in Ikorodu area of Lagos State.

'Spring Estate' is a proposed residential accommodation located in the neighbourhood of the Ikorodu GRA III on approximately 40 acres of land.

The estate, which is to be executed in phases, is designed to cater to medium and low-income earners.

The first Phase, which has been fully subscribed, provides site and services plots to individuals to develop to their taste within the framework of the estate. Work has already commenced on this stage.

Phase Two of the development will provide three-bedroom bungalows to be sold at a price below N10m.

Among infrastructure to be provided by the developer are transformers to supplement power supply from the national grid, perimeter-fencing wall and 24-hour security service among others.

Spring Estate Managing Director. Ifeanyin Onuora said the vision behind the project was to help Nigerians own their homes through saving towards the actualization of their dreams."