As part of efforts to obliterate endemic financial barriers to homeownership in Nigeria, Harmony Garden and Estate Development Limited has launched the Ibile Traditional Mortgage System, a fresh, indigenous rent-to-own housing solution designed for Nigerians both at home and in the diaspora.
The initiative, spearheaded by Dr. Saheed Audullahi Mosadoluwa, popularly known as The Lagos Landlord, aims to dismantle the longstanding financial hurdles that have made property ownership inaccessible to many.
The initiative also offers a simplified, affordable path to real estate ownership, free from complex bank loan requirements and hidden charges.
For decades, countless hardworking Nigerians have struggled to own homes due to convoluted loan processes and exorbitant mortgage interest rates.
According to Mosadoluwa, the Ibile system allows prospective homeowners to pay 30 per cent upfront to secure a property, move in with just 50 per cent of the total value, and spread the remaining balance over five years.Abuja Formula 1 Grand Prix tickets
He said this is all at a low yearly surcharge of 9.9 per cent, with no hidden fees or surprise charges.
“Our scheme provides premium homes with Boys’ Quarters (BQ), within fully gated and secure communities. This is more than a housing program — it’s a national movement toward dignity, stability, and generational wealth for Nigerians everywhere,” he said. Nigeria travel packages
Mosadoluwa added that Ibile caters to a wide range of Nigerians, from young professionals and growing families to returnees from the diaspora, with housing options that match diverse needs and budgets.
Harmony Garden Estates, he said, are strategically located across Lagos and other parts of Nigeria, in fully documented and legally secure areas.
He said the initiative also aligns with the Federal Government’s Renewed Hope Agenda and is expected to create over 5,000 jobs, reduce Nigeria’s housing deficit by delivering homes to 10,000 Nigerians within five years, and stimulate growth in the real estate, construction, and finance sectors.
