Lagos property developer Cruxstone offers UK diasporans special deal

LAGOS luxury property developer Cruxstone has launched a new real estate and hospitality package specifically designed for UK diasporans that involves the company not only selling them choice properties but also furnishing them as hotel apartments with high rental returns.

Established in 2017 and now the fastest growing high-end real estate developer in Nigeria, Cruxstone Development and Investment is a metropolitan real estate development and investment firm. Its properties are concentrated in the high-end districts of Lagos State including Victoria Island, Lekki and Ikoyi.

So well established is the company in the sector now, that even the Lagos State government partners with it and highly recommends its projects to foreign investors looking to invest in the Nigerian property sector. Now, looking to expand dramatically with a programme specifically targeted at the Nigerian diaspora, Cruxstone has launched an innovative scheme under which it manages properties for customers who are resident in the UK.

It also provides opportunities for those not able to own the real estate assets to share in the rental returns by investing a token in the furnishing, equipping and decorating of the apartments to five-star hospitality standards. Cruxstone will now be furnishing, equipping and managing these properties for diasporans, ensuring high rental returns for them.

Dr Adetoro Bank-Omotoye, the managing director of Cruxstone, said: "We have developed top-tier real estate investment opportunities for selective investors using our highly disciplined, entrepreneurial expertise and strategic approach. Now, however, we are taking that a step further by not just selling property but also managing these properties for our clients.

"This includes five-star hospitality furnishings, lifestyle amenities, concierge services, food and beverage, getting tenants, carrying out repairs and even collecting their rent for them. It’s an end-to-end real estate and hospitality management approach.

"Under this new programme, Nigerians living abroad have nothing to worry about as we basically manage their properties for them and diligently remit to them as and when due. We are launching the programme in the UK for now but with time we will take our roadshow to other parts of the diaspora to make the point that with Cruxstone, your investment is safe wherever you live in the world."

Ayo Akinfe, the chairman of the Central Association of Nigerians in the UK (Canuk), added: "Over the years, a lot of diasporans have had their fingers burnt in the Nigerian property sector but thankfully, we now have the likes of Cruxstone on the scene who have brought trust and integrity back to the system. We will be recommending them to all members of Canuk member-organisations as we know this is a developer we can trust.

"Cruxstone was a sponsor of our last annual general meeting, where delegates listened attentively to the details of the housing packages they had to offer. They will also be sponsoring our end-of-year gala dinner taking place on December 14, where Dr Bank-Omotoye will be addressing UK diasporans and outlining the case for why they should go with them."

Rose Graham, Canuk's publicity secretary, added that Cruxstone is setting new standards in the Nigerian housing market by offering everything from one bedroom luxury apartments to seven bedroom maisonettes. She added that for just a 30% deposit, UK diasporans can buy Cruxstone properties and then be rest assured that their investment is safe because the company will take care of managing it maximally.

Cruxstone is also providing opportunities for shared ownership, in which multiple investors own an apartment and share the returns equitably. Ms Grahan added that diasporans can invest in their hospitality services and earn an unbeatable return of up to 20% per annum over a two year period.

According to Ms Graham, representing about 140 Nigerian organisations in the UK, Canuk is the first point of call for members of the community who want to invest in the Nigerian property market, so it is right that the association can recommend operators such as Cruxstone.  Dr Bank-Omotoye added that this is not a one-off programme as Cruxstone is looking to establish a long-term relationship with Canuk that will involve the rolling out of more diaspora housing programmes.