In the face of the ever-evolving dynamics and surging construction costs within the real estate industry, Novarick Homes, a prominent real estate development company based in Lagos, is reaffirming its dedication to fostering trust and transparency.
Foundation of Trust in Navigating Challenges
As construction costs continue to rise, Noah Ibrahim, the CEO of Novarick Homes, emphasizes the importance of setting an industry standard by openly addressing the impact of these fluctuations on real estate projects. Acknowledging the challenges presented by escalating construction costs, Ibrahim emphasizes the company’s commitment to maintaining an open and transparent dialogue with stakeholders.
Noah Ibrahim comments, “It is essential not only to navigate the rising tides in construction costs but also to carry stakeholders along. Over the past three years, the prices of essential materials have skyrocketed, with cement, for instance, doubling in cost from approximately N3,500 to an average of N7,500 per bag as of last week.”
While passing increased costs to clients can be challenging, Novarick Homes firmly believes that transparency is key. By openly communicating these challenges, the company aims to foster trust and confidence, enabling them to fulfil their commitments despite these obstacles.
“We believe that trust is the foundation of successful real estate development. As the industry faces cost-related challenges, the company remains dedicated to upholding transparency in all its operations, from project timelines to communication with clients and partners.”
Initiatives for Stakeholder relief
Novarick Homes is introducing new initiatives such as mortgage partnerships and flexible payment plans to help alleviate the burden of meeting payments during these challenging times. In an environment where market dynamics and economic factors significantly impact construction costs and delivery timelines, maintaining transparency in pricing and project management is crucial.
“Our dedication to openness reassures stakeholders of our commitment to delivering value while navigating these obstacles.”
Novarick Homes and Properties, a leading real estate developer, is committed to creating innovative and sustainable living solutions. With a focus on transparency, integrity, and community development, Novarick Homes strives to redefine the standard of living in Nigeria through sustainable real estate.
Daily Trust Live: https://www.thisdaylive.com/index.php/2024/02/16/novarick-homes-advocates-for-trust-transparency-in-property-delivery-amidst-rising-construction-costs/
The Nigerian Tribune: https://tribuneonlineng.com/novarick-homes-advocates-trust-transparency-in-property-delivery-amidst-rising-construction-costs/
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