RDP (Residence De La Paix) Construction Update

November 14, 2016 Articles

This image shows construction progress as at October 28, 2016.

We are pleased to bring to you the maiden edition of the RDP newsletter, which aims to provide the latest construction progress on the development and your investment as a whole.

Many of the early subscribers into  RDP are already beginning to see a capital appreciation of approximately 10% even before the development has been completed! This is also a great time for discerning investors in the Diaspora to key into the development, given the fixed price of RDP against the background of the Naira devaluation.

For example, a finished 2 bedroom in RDP is currently valued at N14,858,973 on the 12 month payment plan, this equates to approximately $31,614.84 today compared to $49,529.91 at the beginning of the year. This represents a percentage decrease of about 36% in the price.

Month Dollar Rate RDP Dollar Value
January 300 $49,529.91
April 320 $46,434.29
July 370 $40,159.39
October 470 $31,614.84

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If you have family and friends in the Diaspora, you would be doing them a great service by alerting them to the huge benefits in taking advantage of this opportunity. There has never been a time like now for Nigerians overseas who want a leg up to home ownership to buy, without having to deal with the stress of building.

The clincher to the deal is that Mixta Nigeria fits the bill perfectly for Nigerians who are outside the country and who are looking for a reliable, partner in the Real Estate sector with a proven track record and sound Legal Title. You can sleep easy at night knowing that all the nightmare scenarios of shoddy construction work, unreliable/dishonest building supervisors etc are a thing of the past when you entrust your money to Mixta. Overall RDP offers a sound investment over the long term, both in terms of capital appreciation and rental yield.

We are also pleased to announce that as at September we released two new one bedroom configurations which cover floor areas of 47 sqm and 55 sqm respectively. These are available as both shell and finished options.

Payment Update

Further to the introduction of our new transaction management system, you will now receive automatic email reminders a week before your payment is due. We realise that many of you have busy schedules and may not easily remember your payment dates, hopefully this will better help you plan ahead and act as a trigger for due payments.

Please endeavour to make payment on or before the payment due date to ensure allocation of your unit and avoid default under the terms of offer. Allocations will be issued upon 50% payment, and will be confirmed upon receipt of your sales agreement.

We have commenced sending out sales agreement for all buyers who have reached the 50% payment threshold. If you have not already received your documentation, it should be on the way to you soon. Should you have any queries or feedback, please do not hesitate to email us at realestateoperations_nigeria@mixtafrica.com.

We are also adding the finishing touches to our onsite office which should be ready by year end.

Construction Update

We have commenced construction on the first four blocks, with work on an additional two blocks due to start by the end of the year. Each block consists of 16 flats on 4 floors (2 x 2 bedrooms and 2 x 3 bedrooms per floor). Construction started in July 2016 and the first set of apartments will be delivered by Q2 2017.

Work in progress:

  • Concrete works and laying of floor slabs
  • Installation of columns, including Mechanical, Electrical and Plumbing (MEP) First Fix
  • Formwork and reinforcements for upper floors beams an slabs
  • Production of blocks are in progress and block setting on all floors is expected to commence soon.

Actual construction of external works and infrastructure is due to commence soon, the design is in the final stages and contractor selection and mobilisation is expected to be completed in the next couple of weeks.