One of the leading real estate and Infrastructure companies in Nigeria, Brains and Hammers Limited has begun a strategic expansion of its operations by making a bold entry into the real estate market in Lagos. The company started business 10 years ago in Abuja and steadily built a reputation of excellence for itself.
Responding to pressing demands from satisfied clients who also wanted to acquire property in Lagos, the company entered into a deliberate partnership with the Lagos State Government which has led to the development of 750 housing units (made up of 132 tower units and 618 newly built units) at the Jubilee Estate in Iganmu through a public private partnership model. Phase 1 of the project comprises a total of 129 units (consisting of 12 units of 2 bedrooms, 24 units of 4 bedrooms terrace and 93 units) and twin towers 132 units (consisting 60 units of 1A bedroom, 24 units of 2 1B bedroom, 24 units of 3 bedroom masionette
Welcoming the mutually beneficial working relationship, Lagos State Commissioner for Lands and Housing, Prince Gbolahan Lawal said, it will relieve the government in the face of scarce financial resources; while will providing employment opportunities, thereby bringing a major democracy dividend to the community.
The project which is ongoing has created 200 direct jobs and about 1000 indirect jobs in the area which is dominated predominantly by the informal sector practitioners such as artisans, labourers, traders and food vendors.
The project is designed to drive urban redevelopment in the area and result in increased property values in the surrounding environment and a re-positioning of the current site from one which currently offers little value to a highly sought after and well-built residential development.
Mr. Ibrahim Wushishi, chief operating officer of Invest Homes, a subsidiary of Brains and Hammers also spoke about another development which Brains and Hammers has embarked on along the Lekki corridor. According to him, “the Iganmu and Lekki estates will be a major statement on the company’s readiness to play big in the Lagos real estate business. We are not leaving anything to chance. We have a reputation that goes far ahead of us. Extending the tentacles of our presence to Lagos is a calculated move to entrench the presence of the company in Nigeria’s commercial capital.”
Brains and Hammers has an enviable portfolio which consists of over 2000 completed residential homes across Nigeria and ongoing work in over 3,000 more. One of its most ambitious development to date is the Brains and Hammers City in LifeCamp Abuja, The 3500 units City will cater to mid and high-level residents at affordable prices. Some of the facilities at the Ultra modern Brains and Hammers City will include restaurants, schools, banks, a 5-star hotel, high end security facilities, jogging tracks, gyms and swimming pools amongst many others.
Its current development portfolio consists of residential projects within Lagos and Abuja. The sites include Life Camp, Galadimawa, Gwarimpa, Apo I, Apo II, Apo III, Apo IV, Apo V, all in Abuja and along the Lekki corridor in Lagos.
The company made an enviable name for itself for building world class residential cities in Abuja with solid infrastructure and social amenities that work.
The entry of Brains and Hammers into the Lagos real estate business comes at a time that the state government is eager to close the gap in the housing deficit in Lagos State which stands at over three million. According to Prince Lawal, in order to bridge the gap about 200,000 housing units must be delivered annually in the next five years. He emphasized that government alone cannot deliver the required units of houses hence the need to inject private capital into the housing delivery. To achieve this purpose, the state government has made land available to prospective private developers who have exhibited technical and financial capabilities for the delivery of affordable housing units.