The Lawyers In Business Institute (LIBI), an organization aimed at driving group investments, knowledge sharing, and multiple streams of income for its members, has launched a land-banking scheme specifically designed for lawyers and other professionals.
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According to Silas Agbara Esq., the Director of Solar For All Ltd and Convener of LIBI, the land-banking scheme is a strategic investment opportunity in Abuja’s real estate market, offering members the chance to invest in plots of land with approved building plans from the Federal Capital Development Authority (FCDA) and the Development Control Department.
“Landed property is a sure way to bank your money in this unstable economy,” Agbara stated. “Money kept in the bank is simply wasting. Land-banking is your surest bet.”
LIBI’s land-banking scheme operates through two investment groups. The first group, termed the “Elite Group,” consists of 15 members contributing one million naira each to purchase a 300-square-meter plot earmarked for the construction of a three-bedroom fully detached duplex, which can be converted into a four-bedroom duplex or a combination of a one-bedroom flat downstairs and a two-bedroom flat upstairs for rental purposes.
With a collective investment of 15 million naira, the Elite Group plans to acquire the land, excavate, set out, and build to the damp-proof course (DPC) level, potentially starting the fence construction before selling the property and sharing the profits among members based on their respective contributions.
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The second group, known as the “General Land-Banking Group,” is open to 100 members contributing 100,000 naira each to own individual plots and share profits upon resale.
LIBI’s land-banking scheme is not limited to lawyers; non-lawyers and “anonymous members/subscribers” who prefer to keep their identities confidential are also welcome to participate.
The land in question is situated between the boundaries of Galadimawa and Lugbe in Abuja, offering investors a prime location within the nation’s capital.
Prospective members are encouraged to join the respective WhatsApp groups for the Elite Group (https://chat.whatsapp.com/FsLGwIDrFQ7KzZeU1JRzYF) and the General Land-Banking Group (https://chat.whatsapp.com/JSAM91XdOcsBVTDKQ5HfLX) to secure their slots.
Payments can be made into the Lawyers in Business International account (6060440751) at Fidelity Bank, with attendance at a physical/hybrid meeting scheduled for June 6, 2024, at the Royalton Hotel in Abuja’s Garki Area 2.
LIBI’s land-banking scheme presents an opportunity for lawyers and other professionals to diversify their investment portfolios and capitalize on the potential growth of Abuja’s real estate market through a structured group investment model.
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