Public-private partnership and sustainable policies is ultimate to the development of real estate business in Nigeria.
This coupled with friendly montage interest will help and compliment effort of investors in the sector.
This was the position of a building consultant, Builder Aina Ogundeko while interacting with NEWSDIRECT on the way forward for the real estate business in the upcoming year.
The builder though lauded effort of Babatunde Fashola ministry of Power, works and Housing in promoting some standards in the housing sector in the outgoing year, but still charged the government to do more in order to intensify more development to the sector.
Builder Ogundeko identified housing scheme construction project of the Federal Government as one of the giant stride of the government during the year.
“The Federal housing scheme rolled out by the government this year shows government commitment towards development of this sector.
Housing has become a very big challenge in the country with many being homeless. The move is a big boost to housing scheme, and government also did it in such a way that it’s all over the country, it’s a good one this year.
“My advise is that they must ensure that the housing units are delivered to the right set of people for equality and social security”
He said more effort must be put in place in the upcoming year for more acceleration in the sector.
“More gear must be put in by the government in the upcoming year, we must all come together and this government need to do more for more development next year and years ago ahead”.
“The Federal Government must put up a good policies next year, that will help in collaborating effort of investors.
The policies should also be the one that will attract more foreign and local real estate investors into the country”
He called on government to look into the area of land acquisition which is costly. He likewise lamented on high rate of building materials in the country which is of no benefit to builders and also the people.
He challenged the government to help in harmonising the high rate of interest from montage institution, which alot of developers are facing difficulty.
“Interests rate by financial institutions is high, it’s as high as 20 percent this is not helpful, it’s only killing the business, alot is involve in real estate, land, materials for building among others, all this things are very expensive. This must be addressed so that more investors can come into the sector and help in limiting housing problem in the country”.