Ehiton, Monumental Works Collaborate to Render Homes in Ikeja

Bennett Oghifo

A new high profile estate, known as Monumental Castles Opebi, is being developed in Ikeja, through a collaboration between Ehiton Nigeria Limited and Monumental Works Limited.

The homes, mainly terrace duplexes, are being built off Opebi-Allen road in Ikeja. Interestingly, they are not being built with block works, as all the units are being cast from bottom up. 

The promoters are using high-tech systems to render the homes. The estate roads have been paved with interlocking stones and the street lights are up, making the estate so serene. Construction of the homes began in February 2022 and will be delivered in June 2023.

The estate is well-drained and storm water is being channeled to the huge canal closeby. The estate is next to the Opebi link bridge and Ashade Market.

According to the Chief Executive Officer of Ehiton Nigeria Ltd., Mr. Anthony Ehiaghe, “Monumental Works fits into Ehiton’s plans perfectly, yes, plans of partnering with some indigenous but world class Architects/Property Developing Company;

with the underlying intentions of making Timeless Modern Structures (TSM) affordable to Nigerians and Africans at large (especially the 8 to 5 labouring/saving working class).”

Ehiton, whose company has been involved in the markeing of BSEL AJMAN (Dubai) House Projects, and other Dubai Properties since 2007/2008. said “We intend to repeat or better BSEL AJMAN (Dubai) House Projects in Nigeria.”

The 5 bedroom fully detached duplexes are N120 million each; 4 bedroom semi detached units are N65 million each; 4 bedroom terrace duplex, N85 million each. 

They are all being sold off-plan (pay in instalments) or outright. On the payment structure, Ehiaghe said prospective buyers would make a deposit of 50 per cent and spread the rest for a period not exceeding 12 months, and that terms would be agreed on with prospective buyers.

He said they are collaborating with a bank that is willing to match the 50 per cent deposit, stating that the bank “offered to match the balance 50% for interested buyers with initial 50% deposit (loan tenure and other risk factors to determine interest on loan).”

He said Ehiton Nigeria Limited would manage housing units on behalf of investors as the company did in Dubai.