Real estate firm Unveils Initiative to Make Land Ownership Affordable
Leisure Court Estate has launched the One Square Metre Initiative, a land acquisition model that allows Nigerians to buy land in smaller portions from as little as five square metres for N275,000.
The initiative is designed to reduce the financial barrier to land ownership by allowing prospective buyers to acquire portions of land in multiples of five square metres rather than committing to the purchase of an entire plot at once.
The Chief Executive Officer of Leisure Court Estate, Bldr. Dr. Segun Abolaji, said the initiative was developed to enable more Nigerians to participate in the real estate sector despite the rising cost of conventional land purchases.
According to Abolaji, buyers can hold their land and resell it after a minimum holding period of six months at the prevailing market value.
He said the model could benefit parents seeking to secure land for their children, while also providing buyers with an opportunity to build wealth through land appreciation.
Abolaji explained that buyers could continue purchasing land in five-square-metre increments until they reach the minimum threshold of 150 square metres required to build their desired 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 be used as a financial planning tool, giving the example of buyers who acquire land early in the year and later resell it to meet financial obligations such as school fees.
Abolaji, however, stressed that the initiative is not an investment scheme.
He explained that each purchase is tied to a physical parcel of land owned by the buyer, who retains the right to resell the property at its prevailing market value after the minimum holding period.
He said the One Square Metre Initiative reflects Leisure Court Estate’s objective of making property ownership more flexible and affordable for a wider segment of Nigerians.
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