Brains and Hammers Expands into Lagos

By January 29, 2018 Investment News

Real estate and Infrastructure firm, Brains and Hammers Limited, says it has started a strategic expansion of its operations by making an entry into the real estate market in Lagos.

The company said it commenced business 10 years ago in Abuja and had built a reputation of excellence, adding that in response to pressing demands from clients, who also wanted to acquire properties in Lagos, it entered into a deliberate partnership with the state government, which had led to the development of 618 housing units at the Jubilee Estate in Iganmu through a Public-Private Partnership arrangement.

The firm quoted the Lagos State Commissioner for Lands and Housing, Gbolahan Lawal, as saying in a statement that the partnership would relieve the government in the face of scarce financial resources and also provide employment opportunities.

Lawal said the project, which will create 400 direct jobs and about 3,000 indirect jobs in the area, would be dominated by informal sector practitioners such as artisans, labourers, traders and food vendors.

According to him, the project is designed to drive urban redevelopment in the area and result in increased property values in the surrounding environment.

The Chief Operating Officer, Invest Homes, a subsidiary of Brains and Hammers, Mr. Ibrahim Wushishi, said the company had embarked on another development along the Lekki corridor.

He statwd, “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 2,000 completed residential homes across Nigeria and ongoing work in over 3,000 more. One of its most ambitious developments to date is the Brains and Hammers City in LifeCamp, Abuja.

“The 3,500-unit city will cater to mid and high-level residents at affordable prices. Some of the facilities in the ultra-modern Brains and Hammers City will include restaurants, schools, banks, five-star hotel, high end security facilities, jogging tracks, gyms and swimming pools, among many others.”

He said the firm’s current development portfolio consisted of residential projects within Lagos and Abuja.

Wushishi added that the entry of Brains and Hammers into the Lagos real estate business was coming at a time that the state government was eager to close the housing deficit gap.

“Government alone cannot deliver the required units of houses hence the need to inject private capital into 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,” he added.

Source: Punch