{"id":13048,"date":"2026-11-09T10:15:55","date_gmt":"2026-11-09T10:15:55","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/09\/criterion-homes-adopts-phased-payment-model-to-drive-homeownership-in-abuja-businessday-ng\/"},"modified":"2026-11-09T10:15:55","modified_gmt":"2026-11-09T10:15:55","slug":"criterion-homes-adopts-phased-payment-model-to-drive-homeownership-in-abuja-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/09\/criterion-homes-adopts-phased-payment-model-to-drive-homeownership-in-abuja-businessday-ng\/","title":{"rendered":"Criterion Homes adopts phased payment model to drive homeownership in Abuja – Businessday NG"},"content":{"rendered":"

Criterion Homes\u2019 residential development, The Midtown Terraces, in Gwarinpa, Abuja, has entered its final stages of construction, with two of its four residential units already sold and the remaining properties available to prospective buyers.\n<\/p>\n

The development, which is projected for completion in the fourth quarter of 2026, has completed three of its five construction milestones since work commenced in September 2025, according to information obtained by BusinessDay.\n<\/p>\n

The completed milestones include the foundation, first-floor slab and second-floor slab, while roofing and plastering are currently underway as the fourth phase of construction.\n<\/p>\n

The final milestone will involve painting and finishing ahead of the planned handover to buyers.\n<\/p>\n

The progress places the project closer to delivery, providing prospective homeowners with a physical view of the development rather than relying solely on architectural designs and computer-generated images.<\/p>\n

Construction of the first-floor slab was completed in December 2025, with the developer following a three-month milestone schedule for the project.\n<\/p>\n

Hakeem Bakare, Director at Criterion Homes, said the development\u2019s progress demonstrates the importance of aligning construction schedules with visible delivery milestones.\n<\/p>\n

\u201cA published schedule matters only when it is reflected in what buyers can see on site. The Midtown Terraces now stand as it was designed, and every completed construction milestone has given buyers a clearer view of the home and the path still ahead,\u201d Bakare said.\n<\/p>\n

The development also adopts the company\u2019s Build As You Pay model, under which buyers make payments in five instalments of 20 percent each, following the completion of corresponding construction milestones.\n<\/p>\n

The structure is designed to allow buyers to inspect completed construction work before making subsequent payments, providing greater visibility into the development process and the expected delivery timeline.<\/p>\n

The model comes amid growing interest in structured property acquisition arrangements that allow buyers to spread payments across construction phases rather than commit the entire purchase price upfront.\n<\/p>\n

For Criterion Homes, the approach also links payment obligations to measurable construction progress, giving buyers a clearer understanding of how their investments translate into completed property.\n<\/p>\n

With two units already sold, the remaining two homes are available for private viewings by interested buyers.\n<\/p>\n

Criterion Homes has other residential development interests in Abuja, including The Urban Nest in Wuse Zone 7.\n<\/p>\n

The company\u2019s development approach centres on selecting residential locations and providing buyers with a documented construction process through which they can monitor progress and anticipate completion.<\/p>\n

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\n\t\t\t\t\t\t\tChinwe Michael<\/a><\/strong><\/p>\n

Chinwe Michael is a Nigerian business journalist and media professional with over 4 years of experience covering companies, financial markets, banking, fintech, economic policy, financial inclusion, and corporate affairs. She currently leads the Companies & Markets desk at BusinessDay, where she drives coverage of Nigeria\u2019s corporate and capital markets, translates complex financial data into accessible stories, and mentors younger journalists. Prior to that, she was the head of the financial inclusion\/fintech desk. With a background in banking and finance and extensive experience in media and communications, Michael has developed expertise in financial journalism, economic analysis, investigative reporting and market intelligence. Her work examines how monetary policy, corporate performance, capital flows, technology, and regulatory decisions affect businesses, investors, and households. She was selected from about 3,000 applicants as one of 20 journalists for Cohort 4 of the MTN Media Innovation Programme, gaining exposure to new approaches to journalism, technology, and media innovation. Her international journalism experience and engagement with professionals across Russia, Dubai, Saudi Arabia, and others in different sectors have further broadened her understanding of global communication and development.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

Criterion Homes\u2019 residential development, The Midtown Terraces, in Gwarinpa, Abuja, has entered its final stages of construction, with two of its four residential units already sold and the remaining properties… <\/p>\n","protected":false},"author":1,"featured_media":13049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/13048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=13048"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/13048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/13049"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=13048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=13048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=13048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}