Business
Real Estate Executive Tasks Investors On Mass Housing
In order to reduce housing deficit in Nigeria, a real estate executive, Mr Ade Adebanjo, has urged investors in the private sector to consider investment in mass housing at affordable rate.
He said that time has come when attention should shift from government to the private sector in matters of mass housing, so as to bridge the housing deficit gap across the country.
Adebanjo, the Chief Executive Officer of the UT Finance Limited, a real estate financing firm, gave the advice while speaking to newsmen at the Port Harcourt International Airport, Omagwa, last Friday.
He said that the idea of encouraging the private sector to invest in mass housing was borne out of the conviction to redefine the narrative in mass housing.
“The overall idea and my conviction on this call is to challenge the status-quo, and to create a unique and innovative platform to deliver real estate solutions in Nigeria.
“The vision is to build future dreams and set the pace for a new innovative approach in tackling home ownership across the 36 states of the country, beginning with the most viable and populated cities.
“Until the private sector investors take rightful position in this matter and not just government alone, the problem of mass housing deficit will continue to be a mirage in the country”, he said.
Adebanjo also encouraged government at the state level to partner with private investors to make mass housing possible and available to its citizens.
He said that he has been discussing with government of various states on possible partnership in the provision of mass housing.
According to him, if the state is able to provide land for the project, his firm will provide the needed funds to execute the project, thus making easy for low income earners to be able to own homes on mortgage facility.
By: Corlins Walter