By joshua Real estate firm unveils initiative to make land ownership affordable
A real estate firm, Leisure Court Estate, has launched the One Square Metre Initiative, a land acquisition model designed to make property ownership more accessible by allowing Nigerians to buy land in smaller portions instead of purchasing an entire plot.
Speaking on the initiative, the Chief Executive Officer of Leisure Court Estate, Bldr. Dr. Segun Abolaji, said the scheme was developed to lower the financial barrier to land ownership and enable more people to participate in the real estate sector.
According to him, prospective buyers can acquire land from as little as five square metres, with additional purchases available in multiples of five square metres, starting from N275,000.
Abolaji explained that owners can hold their land and resell it after a minimum of six months at the prevailing market value, within which it would have appreciated significantly.
He noted that the initiative is suitable for parents looking to secure land for their children, while also providing an opportunity for buyers to build wealth through land appreciation and dispose of their holdings whenever the need arises or keep buying in bits until they’reable to meet up the minimum threshold of 150m2 to build their dream home.
“The One Square Metre Initiative is an innovative land banking concept that allows everyone to participate in real estate by buying land in bits of square metres instead of purchasing a whole plot they may not be able to afford,” he said.
He added that the initiative could also serve as a financial planning tool, citing an example where buyers who purchase land early in the year may choose to resell it later to meet obligations such as school fees.
Abolaji stressed that the initiative is not an investment scheme, noting that every purchase is tied to a physical parcel of land owned by the buyer, who retains the right to resell it at the current market value after the minimum holding period.
He said the initiative aligns with the firm’s commitment to making real estate ownership easier and more affordable for a wider segment of Nigerians.