Lumen Apartment promises rental income

Credit: Dekglobal

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An opportunity has opened up in Lagos’ residential real estate market as Dekglobal, a developer known for promoting modern and affordable urban living, officially announces the launch of Lumen Apartment—a new off-plan studio housing project set to transform the heart of Ogudu, one of Lagos’ most central, dynamic, and fast-appreciating neighbourhoods.

In a statement on Sunday, the firm stated that Lumen Apartment is crafted to meet the needs of young professionals, remote workers, and smart investors looking for strong rental returns and long-term value. Compact, modern, and thoughtfully designed, the development offers a lifestyle tailored to today’s urban realities while doubling as a high-yield investment opportunity.

One of the project’s most compelling features is its 23-year lease ownership, which grants investors long-term control of their units and the potential to earn up to ₦1.3m annually in rental income. This positions Lumen Apartment as one of Lagos’ most attractive and accessible entry-level real estate investments.

Currently selling at an appealing off-plan price of ₦9m, the project offers an affordable pathway for first-time buyers and investors eager to secure a prime location with strong rental demand and limited land supply. With Ogudu’s rapid growth and rising popularity, early subscribers stand to benefit significantly from value appreciation as development progresses.

Dekglobal has also provided a transparent project timeline to enhance buyer confidence: demolition and site preparation will begin toward the end of December, full construction will kick off in January, and handover is scheduled for October 2026. This clarity reinforces the company’s commitment to timely delivery and investor satisfaction.

Strategically positioned to tap into Lagos’ booming short-let and compact rental market, the firm stated that Lumen Apartment is ideal for Airbnb and short-let operators, corporate housing providers, first-time and young investors, and buyers seeking steady, long-term passive income.

Describing the project, the CEO of Dekglobal Properties Ltd, Adeleke Olawale, said, “Lumen Apartment is a forward-looking solution for modern urban living and a simple, accessible pathway to long-term wealth for today’s investors.” The firm stated that sales have officially commenced, and subscription is now open.

Josephine, a correspondent with The PUNCH has over two years experience covering the building industry and the personal finance ecosystem

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