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Propertymart Assures on Completion of Cityview Estate, Others



Propertymart Assures on Completion of Cityview Estate, Others

Propertymart Real Estate Investment Limited has assured prospective home owners that it was committed to timely delivery of quality houses at its Cityview Estate, Arepo in Ogun State as well as other ongoing home ownership projects across Nigeria.

Specifically, the firm assured investors that all ongoing housing units would be completed and handed over to them before the end of 2019.

Managing Director of the company, Mr Deji Fasunwon, while speaking about the company’s milestones, disclosed that Propertymart has delivered over 85 percent of houses across all its housing projects in key cities and towns in Nigeria.

“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,” he said.

Mr Fasunwon commended clients for their patience and assured that the company was focussed on its mission of assisting Nigerians to achieve their dreams of becoming home owners.

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.

“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,” he stated.

Mr Fasunwon added that rather than introduce new housing estates during the recession period, Propertymart focused on achieving delivery of most of its backlogs. He said, “This has been productive as 136 units of houses were delivered in the first quarter of 2019 and another 138 units are expected to be completed and delivered at different times in the second quarter. It is expected that all remaining housing units will be delivered before the end of the last quarter of 2019. It is noteworthy that over 85% of houses due for delivery have already been delivered across all projects while over 90% of serviced plots sold have also been allocated.”

While acknowledging that Propertymart has suffered some backlashes in situations that some delays had occurred, he reassured that the firm was always resolute in its decision to remain committed to delivering best-in-class real estate solutions to its stakeholders.

“The harsh economic climate was not strong enough reason to compromise on the structural integrity of our buildings, and as such, no cost-cutting measure was introduced on our projects.  The company is glad to report that it has significantly achieved its goal as construction activities are currently at top gear in all of its projects. These developments are being carried out in phases for a strategic delivery to its customers. The company has also revamped its customer service unit to constantly engage its customers on the development plan and update them on the progress of their investments,” he said.

Propertymart assured clients of capital appreciation of their investment while urging those that had yet to take delivery of their houses to visit the project sites and verify the progress made on the construction of homes paid for.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NIPR Lagos to Hold 9th Stakeholders Conference August 18




By Adedapo Adesanya

The Lagos State Chapter, the premier branch of the Nigerian Institute of Public Relations (NIPR) in collaboration with Addefort Limited is set to host the ninth Lagos Public Relations Stakeholders’ Conference.

In a disclosure on Thursday, the chapter said that the conference will address Leadership and Poverty Eradication at the MUSON Centre, Lagos on Thursday, August 18, 2022.

The Lagos Public Relations Stakeholders Conference is a bridge-building initiative to interact and proffer solutions to the social, political and economic challenges plaguing our nation.

This edition themed Conversations on Leadership and Poverty Eradication is expected to feature distinguished speakers including; the Governor of Lagos State, Babajide Sanwo-Olu; Mr Tony Elumelu, founder and Chairman, Heirs Holdings; and  Mr Umar Garba Danbatta, Executive Vice Chairman/ CEO, Nigerian Communications Commission (NCC).

Others are Mr Segun Ajayi-Kadir, DG Manufacturers Association of Nigeria (MAN); Mr Kayode Pitan, Managing Director, Bank of Industry (BoI); Mrs Tejumola Abisoye, Executive Secretary, Lagos State Employment Trust Fund (LSETF); Mrs Cecilia Bolaji Dada, Commissioner of Women Affairs and Poverty Alleviation, Lagos State and Dr Oluseye Ajuwon, Economist and Consultant, University of Lagos.

Speaking on the conference, the Chairman, Lagos NIPR, Mrs Comfort Obot Nwankwo, explained that the theme for this year’s edition is timely, adding that the Institute is committed to setting agenda for stakeholders’ engagement and lead the discuss to reawaken national consciousness.

She noted that eradicating poverty in all its forms remains one of the greatest challenges facing humanity; Nigeria is not an exemption, despite the efforts of government in the country, too many are still struggling for the most basic human needs.

On the part of Mr Olabamiji Adeleye, Conference Coordinator & Lead Consultant, Addefort Limited, participants at the conference will include; representatives from government, Public Relations practitioners, economic experts, the United Nations, embassies, corporate organisations, institutions, NGOs, HODs of relevant agencies, and the media among other stakeholders.

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How to Choose an Ideal Price for Your Product



price for your product

By Emmanuel Otori

The price of a product determines what customer segment would make demands for them and determines its classification as a luxury good or one for the middle class. There are many factors used in determining the price of a product or service and they can determine your market share.

  1. The Price of Your Competition

Your competition comprises those who have been in the market and established a name, a growing brand, and a network, they could be a startup like you and already have a differentiating factor to make customers rethink should they consider switching to a different product.

You should consider your price range falling into what is affordable for both the existing and new products, therefore, making room for flexibility to accommodate the needed change when it arises. This shouldn’t mean copying what the competition is doing, but watching the changes made by them can give a signal of not just holding the market share but also establishing new connections.

  1. Your Suppliers or Service Providers

The supply chain is a key factor in the delivery of a superb product or service. Some organizations have created synergy with suppliers that make raw materials available all year round and at a stable price, and this helps with consistency, however, this would not always be the case as the price could change, transportation costs could increase or loss due to theft. A selection of suppliers with quality service, integrity and proximity to raw materials is the best bet that can make the product or service delivered at a reasonable price.

  1. Packaging of Your Product

Most products are branded with materials that make the exterior attractive to the customer and take a percentage of what the selling price would be. The acceptance of the “going green” form of packaging that considers reduction in the use of polyethene is gaining recognition, if affordability for your company is fair, and then adopting a material that doesn’t pose environmental hazards, is cheap and easily disposable would make a good price for your product.

  1. Energy needs

Most businesses depend on the power grid for their energy needs and this is a recurring expense that needs to be put into the budget to avoid interruptions in power supply which would affect the day-to-day operations of your business. To complement your primary source of energy, it is of valuable consideration to put in place alternative sources of energy. In determining the overall cost used in producing your goods, the power supply is pivotal.

  1. Cost of Goods

The cost incurred in making a product is referred to as the “cost of goods”, which involves the expense of procuring raw materials, the wage of the labour force, processing, packaging and energy needs. This cost excludes transportation and distribution. Profit on any product or service can only be determined with accuracy when the COGS (Cost of Goods Sold) is known and leading to the possibility of making a sales forecast to know how many units of goods were produced and if all were sold, how much would be recorded as revenue.

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7th African Brands Congress to Attract Critical Stakeholders



African Brands Congress

By Aduragbemi Omiyale

Some critical stakeholders in the branding industry will converge on Lagos Sheraton Hotels & Towers, Ikeja, Lagos on Friday, August 12, 2022, for the 7th edition of the African Brands Congress.

According to the organisers led by its convener, Mr Desmond Esorougwe, the theme for this year is Digital Technology AI & IOT: A Catalyst for Brands Growth.

The event is an annual fiesta of the best brains behind the most successful and sought-after African brands. It is meant to stimulate, motivate and excite the creativity in individuals as it is designed to educate, engage and inspire Brands Managers and professionals in the pursuit of best practices in brand building and value creation.

It is an appropriate platform used by stakeholders to discuss how brands in Africa can increase their global competitiveness. It is also used to enhance professional development skills in the area that are most relevant to the business community today.

The congress will provide hands-on skill-building experience for brands and the brand management community.

The focus of this one-day occasion will be to support establishments in the journey of excellence in brand building and discuss and influence the issues of sharing the African brands’ future. The platform will provide an ideal opportunity for interactions among leading companies and keynote interactive discussions.

The programme is packaged by African Brands Media Ltd, a leading brands magazine providing opinions, research and news for all brand owners and industry players.

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