Lekki Gardens Introduces 50% Payment Plan for Completed Homes

Lekki Gardens has introduced a new homeownership plan that allows buyers to pay 50 per cent of the cost of a completed property, move in, and settle the outstanding balance while living in the home.

The initiative is designed to address some of the challenges facing property buyers in Nigeria, particularly concerns about affordability, delayed delivery and trust between developers and customers.

According to a report by The Guardian, the plan covers selected completed developments in Abuja and Lagos. These include Villas De Paradis in Abuja, Horizon Estates in Oniru, Meridian Luxury Park in Ajah and Paradise Court along the Chevron corridor in Lagos.

Unlike conventional off-plan purchases, where buyers often commit substantial funds before construction is completed, the new arrangement allows customers to take possession of an already completed home before making the final payment.

Lekki Gardens Targets Housing Affordability

Dr Richard Nyong, founder and chief executive officer of Lekki Gardens, said his personal experience with property transactions influenced his approach to homeownership.

Nyong recounted that he had been defrauded seven times while investing in real estate before establishing his own property development company.

The experience, according to the report, shaped his view that buyers need greater protection and more confidence when committing their savings to property purchases.

Lekki Gardens says its approach focuses on transparent pricing, housing quality and making completed homes more accessible to buyers.

The company, which has operated for more than a decade, reports having delivered thousands of homes across Lagos, Ogun, Rivers and the Federal Capital Territory.

How the 50% Payment Plan Works

Under the new arrangement, eligible buyers pay approximately half of a completed property’s purchase price and receive the keys within days, according to the report. The remaining balance is paid after they have moved into the property.

The model changes the traditional payment arrangement by allowing buyers to occupy their homes while the developer awaits the outstanding payment.

For prospective homeowners, this could reduce the uncertainty associated with waiting for a property to be completed after making substantial payments. However, buyers would still need to understand the repayment schedule, contractual terms and consequences of default before committing.

The plan applies to selected developments rather than necessarily covering every property offered by Lekki Gardens.

Trust Remains a Challenge in Nigeria’s Real Estate Market

The initiative also draws attention to a broader issue within Nigeria’s property sector: the relationship between developers and buyers.

Purchasing a home is often one of the largest financial commitments a household will make. Buyers must consider not only the price but also construction quality, delivery timelines, ownership documentation and whether the developer can fulfil the terms of the agreement.

When these details are unclear, customers may face financial losses, delayed possession or disputes over contractual obligations.

Nyong argues that developers should demonstrate their credibility through their actions and delivery records rather than relying solely on marketing promises.

The new payment arrangement reflects that position by allowing customers to take possession of completed homes before paying the full purchase price.

Nevertheless, prospective buyers should independently verify property titles, inspect completed homes and review all payment and possession conditions with a qualified legal professional before signing an agreement.

As housing affordability continues to shape Nigeria’s property market, payment arrangements that give buyers greater flexibility could attract attention. Their long-term value will depend on clear contracts, reliable delivery and the ability of buyers to meet their outstanding obligations.