Novarick Homes has launched a new property ownership initiative targeted at young Nigerians, introducing a flexible payment structure designed to help individuals below the age of 40 become landowners without paying outright.
The campaign, known as the “Under 40 Landlord” initiative, is linked to the company’s Ayomide Joy City estate located in Moniya, Ibadan. According to the company, the initiative is focused on young professionals, entrepreneurs, freelancers, and salary earners who want to invest in property early but may struggle with the high cost of full land payment.
Under the scheme, Nigerians can subscribe to a 300 square metre plot through monthly payments of N150,000 spread across 24 months. A 500 square metre plot is also available from N250,000 monthly within the same repayment period. The company added that buyers who prefer outright payment can still access the estate through direct purchase options.
Speaking on the launch of the initiative, Chief Executive Officer of Novarick Homes, Noah Ibrahim, said many young Nigerians have delayed property ownership because they believe it is something meant for older people or high-income earners.
“There is a generation of young Nigerians who are earning, building businesses, and making serious financial decisions, yet they have convinced themselves that land ownership is a privilege reserved for a later chapter of their lives,” Ibrahim said.
“The Under 40 Landlord initiative exists to dismantle that belief entirely.”
According to him, the initiative is not just about selling land but encouraging young Nigerians to begin building long-term financial security through real estate ownership at an earlier stage in life.
Ayomide Joy City is situated within the Moniya area of Ibadan, a location that has continued to attract residential growth and infrastructure development in recent years. The estate is positioned close to key landmarks including the Obafemi Awolowo Train Station, the University of Ibadan, and the Ibadan Dry Port.
The proposed development is expected to include road infrastructure, green areas, power supply, recreational facilities, a residents’ clubhouse, and other features aimed at creating an organised residential environment.
Chief Operating Officer of Novarick Homes, Collins Oforgu, said the company has also introduced a faster allocation process to improve trust and transparency for subscribers.
“The operational promise behind this initiative is just as important as the marketing vision. Every subscriber who makes a first deposit will receive their Provisional Allocation Letter and their personalised plaque within one hour, without exception,” he said.
The company also disclosed plans to organise site inspections and landlord induction events for participants as the campaign expands across social media platforms including Instagram, TikTok, WhatsApp, and X.
