Novarick Homes Launches Under 40 Landlord Initiative for Young Nigerians

Novarick Homes has launched the “Under 40 Landlord” initiative to enable Nigerians under 40 to purchase property through structured payment plans. According to the company, the program focuses on the Ayomide Joy City estate in Ibadan, offering 300 square metre plots with monthly payments spread over 24 months.

The campaign targets young entrepreneurs, salary earners, and business owners who have previously found land ownership unattainable due to high entry costs, Novarick Homes stated. While the 300 square metre plot is the primary offering, the company said larger plot options are available under similar flexible payment arrangements.

How does the Under 40 Landlord initiative work?

The initiative allows subscribers to avoid the burden of outright payment by distributing the cost of land over a two-year period. Novarick Homes reported that the program is designed to remove barriers such as high initial costs and complex entry requirements.

Chief Operating Officer Collins Oforgu said the company structured the campaign around accessibility and transparency. He noted that subscribers receive immediate confirmation and allocation upon joining, and the company has clearly defined the documentation process to encourage first-time buyers.

Subscribers under the campaign also have access to periodic site inspections and a planned induction event intended to build a community of young property owners, according to the company.

Why is Novarick Homes targeting buyers under 40?

The company is responding to rising housing and living costs across Nigeria, which have led more young professionals to view property as a primary tool for financial stability. Chief Executive Officer Noah Ibrahim said many young Nigerians delay investing in land because they believe it is reserved for older, financially established individuals.

There is a growing culture where many young people believe they must first attain a certain level of wealth before they can begin to think about owning property. What we are trying to change is that mindset. We believe land ownership should not be something people postpone until their forties or fifties.

Noah Ibrahim, CEO of Novarick Homes

Ibrahim added that starting early allows for greater asset appreciation and long-term growth, arguing that many working-class Nigerians spend years paying rent while assuming ownership is out of reach.

Oforgu stated that the initiative aims to change how young people emotionally connect with property. He noted that while many under 40 are already building careers and income streams, they often perceive property ownership as a distant goal.

Where is Ayomide Joy City located?

The initiative is tied to the Ayomide Joy City estate, located in the Moniya axis of Ibadan. Novarick Homes described the area as one experiencing increased residential and infrastructural growth.

The estate is situated near several key landmarks, including:

• The Obafemi Awolowo Train Station
• The University of Ibadan
• The Ibadan Dry Port

According to the company, the estate is being developed with a structured community environment. Planned features include road infrastructure, power supply, recreational areas, and green spaces.

How is the campaign being promoted?

Novarick Homes is executing the campaign across several social media platforms, including X, TikTok, Instagram, and WhatsApp. The company said it is collaborating with online influencers and content creators who focus on lifestyle, entrepreneurship, and financial growth to reach its target demographic.