After delivering over 300 apartments through long-lease projects, with investors already receiving their returns, Smartease Properties is entering a new phase of development with Luma Apartments, its first outright property project.
Smartease Properties is taking a significant step forward in its real estate journey, transitioning from long-lease apartment projects to outright property development with the introduction of Luma Apartments in Yaba, Lagos.
Over the years, the company has delivered more than 300 apartments through its long-lease projects, creating property ownership and investment opportunities for individuals seeking to participate in the Lagos real estate market. With investors now beginning to receive their returns, the company’s track record reflects its continued commitment to creating property opportunities that align with buyers’ and investors’ goals.
Beyond investment opportunities, Smartease Properties is also focused on contributing to the reduction of Lagos State’s housing deficit by supporting the development of residential apartments that respond to the city’s growing housing needs.
The move into outright development marks a new chapter for the company, building on its experience in property sales, investor engagement and understanding of market demand.
From Long-Lease Projects to Outright Development
For Smartease Properties, the transition into outright development represents a natural progression informed by years of working closely with property buyers and investors.
Through its long-lease projects, the company has gained valuable insight into what buyers consider when making property decisions, including location, affordability, potential rental demand, property configuration and long-term value.
Now, Smartease is applying that experience to its own outright development projects, beginning with Luma Apartments in Yaba.
According to Lateef Aromire, Chief Executive Officer of Smartease Properties, the company’s next phase is driven by a desire to build on its experience and expand the opportunities it offers to the market.
“Over the years, we have worked closely with buyers and investors, delivered more than 300 apartments through our long-lease projects, and seen investors receive their returns. These experiences have helped us understand the market more deeply. Advancing into outright development is the next step in our journey, allowing us to create properties that respond to market needs while contributing to the housing supply in Lagos. Luma Apartments is the beginning of this new chapter for us.”
Addressing Lagos’s Growing Housing Needs
Lagos continues to experience population growth and urban expansion, increasing the need for accessible, well-planned residential accommodation across different income groups and lifestyle categories.
Smartease Properties recognises that addressing this demand requires more than creating investment opportunities; it also requires developing residential spaces that serve the needs of the people who live and work in the city.
The company’s commitment to contributing to the reduction of the housing deficit informs its approach to property development, with attention to location, apartment design, accessibility and practical use.
Luma Apartments, located on Bailey Street, Abule Ijesha, Yaba, is designed around studio and one-bedroom apartments. Its location within the Yaba residential and commercial corridor places it within reach of major educational institutions, business districts and important transport connections.
The development is intended to appeal to different categories of occupants, including young professionals, students seeking private accommodation, corporate residents and individuals looking for convenient urban living.
The apartments also present opportunities for property owners interested in short-let operations, executive accommodation and traditional rental arrangements, subject to applicable requirements and market conditions.
Supporting facilities include parking, reception, dedicated workspace, laundromat and security infrastructure, reflecting the company’s focus on practical residential functionality.
Why Luma Apartments Matters
As Smartease Properties advances into outright development, Luma Apartments represents more than a new project. It marks the company’s expansion into a different phase of the real estate value chain.
Unlike the company’s long-lease projects, Luma Apartments is its first outright development project, offering buyers the opportunity to acquire apartments outright under the applicable purchase terms and property documentation.
The project also reflects the company’s intention to broaden its contribution to the housing market while continuing to create opportunities for property investors.
For prospective buyers, the development offers an opportunity to explore apartment ownership in Yaba, whether for personal use or as a potential income-generating asset.
As with every property investment, buyers are encouraged to evaluate the purchase terms, title documentation, intended use and realistic income expectations before making a commitment.
The Next Chapter for Smartease Properties
Having delivered over 300 apartments through long-lease projects and reached the stage where investors are beginning to receive their returns, Smartease Properties is building on its experience as it enters outright development.
Luma Apartments is the company’s first project in this new direction and signals its intention to expand its development activities while contributing to the supply of residential accommodation in Lagos.
For Lateef Aromire and the Smartease Properties team, the objective extends beyond completing individual projects. It is about understanding the needs of the market, creating meaningful property opportunities and helping buyers make informed decisions.
Prospective homeowners and investors interested in Luma Apartments can enquire about available units, pricing, purchase options and development details.
To enquire, send “LUMA” to Smartease Properties and speak with the sales team.
SMARTEASE PROPERTIES
Website: www.Smarteaseproperties.com
Phone: +234 707 986 3327
Instagram: @smarteasepropertiesng
Smart property. Confident decisions.
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