KAB Construction builds 350-unit Lekki Courts estate without bank loans

KAB Construction Limited is developing Lekki Courts, a 350-unit residential estate on Orchid Hotel Road in Lekki, Lagos, according to the company's founder, Dr Kehinde Alex Bankole.

The project brings together several property types on one site: fully detached duplexes, semi-detached duplexes, terraced houses and blocks of flats. The promoters describe the scheme as a multi-billion-naira development targeted at professionals, investors and households seeking homes in Lagos's competitive residential market.

According to information supplied by the project's promoters, Lekki Courts is being self-financed, without bank loans or public off-plan sales. That structure differs from developments that rely on commercial borrowing or advance payments from buyers, the company said.

The financing model has practical implications for delivery. Self-funding can give a developer more control over construction schedules and reduce exposure to borrowing costs, but it also requires substantial capital to be committed throughout the build and places a premium on cash-flow discipline.

Bankole, who is also chairman of the KAB Foundation, framed the project within a wider push to expand homeownership in a market where house prices have outpaced household incomes and mortgage credit remains expensive or difficult to access.

Whether the development broadens access will depend on final prices, payment terms and the developer's delivery record. The source account does not disclose unit prices, completion dates or construction progress for Lekki Courts.

Lekki has attracted sustained residential and commercial investment, but developers there also confront rising land values, higher construction costs and financing constraints that have pushed many schemes toward staged off-plan sales.