- June 20, 2021
- Posted by: Temitayo Omodehin
- Category: Real Estate
Catalyst Properties, the real estate arm of Catalyst Business Consult, is proud to announce the launch of its new project. Project Balogun 3.0(PB3) is officially underway. Following the resounding success of Project Balogun 1.0 (PB1) and the ongoing efforts at Project Balogun 2.0 (PB2), we have decided to expand our interests in Balogun Square, Abule Oja. PB3 is the third iteration of this package.
The Project Balogun Initiate is a leasing plan for individuals looking to invest in real estate. The package allows for the leasing and subsequent ownership of apartment units. A total of 48 apartment units will be constructed. These units include 32 studio apartments (self-cons) and 16 one-bedroom apartments (mini-flats) in Balogun square. Ten of each apartment type will be available for leasing.
Over the last four years, Catalyst Properties has been a significant player in the Abule Oja region. Our expertise in the market allows us to connect tenants to residencies. Located less than 3 minutes from Unilag, Abule Oja is a prime location for students seeking suitable accommodation.
The Project Balogun initiative offers a means for investors to receive massive returns on investments. As land and proper housing becomes an increasing luxury, the price of accommodation, especially for hostel space, has been on a steady incline over the last few years. Our current estimates indicate a yearly increase of 10 to 20 percent.
Let us run the numbers. Under the PB3 package, a 15-year lease plan for self-cons is priced at N3 million naira. Investors can convert this space into student accommodations. A conservative estimated rental price of a self-con in the Abule Oja region is N600,000 per annum at the current rates. Over the 15 years, this comes to a gross of N9 million naira: a whopping gain of N6 million naira. Similarly, the mini-flats yield a gross of N9 million naira at a rental value of N900,000 naira per year. This is not an opportunity one can afford to miss.
Project Balogun 2.0
Project Balogun 2.0 launched on the 18th of January, 2021. Forty-eight units, a combination of 32 self-cons and 16 mini flats, were to be constructed. The lease duration was set for 15 years and was priced at N2.5 million naira for self-cons and N4 million naira for mini-flats. All available units were sold out officially on the 18th of May, 2021. Construction began in January as the project is well underway to be completed in August 2021.
Project Balogun 3.0
Off the back of the success of PB2, our team decided to look to the future to provide more opportunities for our investors to earn passive and active incomes through real estate. Hence, Project Balogun 3.0 was conceived and launched on the 18th of June, 2021. Construction is slated to begin in July 2021, with a timeline of 6- 8 months. Emulating the motif of PB2, 48 units will be built with 10 self-cons and 10 mini-flats available for leasing. Furthermore, these units will be spread across two buildings to provide ease of access to tenants.
Pricing and Details.
Location: The property is located at Balogun Square, Abule Oja, Akoka, Yaba.
Pricing: Self-con N3 Million naira
Mini flat N4.5 Million naira
Contact Information: info@catalystbusinessconsult.com
+234 816 272 6997
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