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The Pearl Gardens estate covers a land area of 28 hectares and consists of 260 standard plots. Work commenced in 2006 and it takes 18months to deliver a fully completed house to the purchaser.

However, the plots for these facilities are for outright sale to prospective developers who will develop the places with their own funds and recoup thereafter with profit. Pearl Gardens Estate is a sign - post of beauty and grandeur, located in Ajah in the Lekki corridor of Lagos metropolis.

The development consists of 3 – bedroom bungalow, Terrace house, 4 – bedroom detached duplex and 4 – bedroom semi detached duplex. Plots of land are also available for sales in various sizes ranging from 658.8 square metres to 3,000 square metres.

There are designated plots for a shopping centre to cater for the shopping needs of the residents.
The developer cum promoter of the project is CMB Building, Maintenance & Investment Company Limited. CMB was contracted as developers and facilitators with a brief to provide infrastructure (site and services) for the estate.

This includes provision of roads, drainage, electricity, water supply as well as the enabling of stakeholders to access mortgages for the construction of the their personal residences within the estate. These residences are also to be built by CMB. There will be a nursery school for the education of the younger ones, health centre to attend to their Medicare and place of worship for the religious. CMB is working with UBA to raise facilities totaling N1.05billion. A further credit line of N50million is said to have been put in place to allow for the construction of the infrastructure.

Before now, CMB had been involved in the Osborne Foreshore Development Scheme – a water front development which covered 4057 square meters and comprised twelve units of 4 – bedroom luxury town houses complemented with upgrade facilities such as swimming pool and standard tennis court. CMB is also involved in the ongoing construction of “Christopher Court” – a seven storey residential block of 2000 square metres of land that front Saka Tinubu Street and Amichi Close in Victoria Island.
CMB offers flexible and convenient payment plan options to prospective home buyers in Pearl Gardens estate. The mortgage facility is offered for construction of the investor’s dream home for a span of 20 years at an interest rate of 15 percent with 20 percent equity contribution from a Primary Mortgage Institution (PMI) of the buyer’s choice.

The construction of infrastructure is about 60 percent complete with approval given for individual mortgages. Further breakdown of work done so far shows that the construction of perimeter wall fence is 89 percent complete, the electricity installation 50percent complete, water supply 20percent complete, construction of access road 40percent complete while work on the internal estate road has reached 35 percent completion.

A larger portion of the estate would be developed and built by CMB Building Maintenance and Investment Company Limited and sold to subscribers, while the minor portion would be subscribers who will construct their properties within agreed guidelines. The estate is designed to meet the needs and desires of young upwardly mobile professionals in Lagos who seek affordable and decent housing in an idyllic environment. In furtherance of this vision, the promoters say they have been able to secure purchasers for majority of the estate through the co – operative societies of top organizations in the country.

Pearl, as is well known is a jewel of great value, a thing that is very precious or highly valued and this reflects on the prices. Slammed on the houses is a price range that consists of N14million for each unit of 3 – bedroom bungalow, N17million for each Terrace house, N21 million for each unit of the 4 – bedroom semi detached duplex and N24million for each unit of detached duplex. However, the price indicated are only for the buildings and do not include cost of the land.