The Lagos State Commissioner for Housing, Prince Gbolahan Lawal said the State government in a joint venture partnership with Messrs Brains and Hammers Limited will be delivering 750 housing units at Jubilee Estate in Iganmu, Lagos.
Lawal said this at the African Real Estate Conference & Awards (AFRECA’18) organized by PropertyPro.ng in partnership with the Lagos State government, Property Mart, Messrs Brains and Hammers held at Landmark Event Centre, Victoria Island, Lagos.
The programme Themed: Growing African Cities: The Reshaping Model featured: Sustainable & Equitable Housing, Technological Housing Finance, Real Estate Aesthetics, Regional Economies & Property Markets, Real Estate Valuation & Transformation, Urban planning & Transformation, and Real Estate Investment & Financing.
Lawal said the Lagos State government yielded to several innovative ideas towards the last quarter of 2017 that is capable to reshape the Nigerian real estate and infrastructure industry in the coming years.
This he said have highlighted the need for sustainability, innovation and standardisation in the industry. Lagos State government in partnership with Messrs Brains and Hammers Limited has made a bold entry to a plan for the development of 750 housing units at Jubilee Estate in Iganmu.
Lawal added that the Ilubirin Housing Scheme and Igbogbo Housing Scheme are examples as well. These have brought major dividends to the community as we provide employment opportunities as well.
He noted that the private-public partnership framework created by the state government was with the aim to encourage private-public partnership towards the development of affordable housing in the state.
“The leadership of Governor Akinwunmi Ambode has also made land available for interested private developers who show the financial and technical capabilities to deliver affordable housing units”, he said.
Lawal continued: as a forward-thinking government, this administration has a strong interest in the many ways we can make housing provision more efficient and affordable, with projects such as our partnership with Echostone which seeks to push frontiers in housing development by deploying the use of technology to build homes within record time.
The commissioner posited that we have set a target to build about 14,187 affordable homes by the year 2020. We are seeking to leave this event with even more inspiration to help us overcome challenges and break barriers in the real estate industry.
According to him, although the urban population growth in Nigeria has been close to 5.8% per annum over the past decades, it has been envisaged that more than 60% of the Nigerian population will live in urban centres by the year 2025.
On this note, Lagos State has been projected to have a population increase to over 28 million. However, this condition poses to be a challenge for our sustainable development goals in Nigerian urban centres.
“These explosive growth rates have complicated the inter-related problems of human settlements. The strong urban bias when it comes to development programmes has resulted in the putting no effort in rural development. More disturbing is the lack of technical capabilities and resources to manage these urban cities”, he said.
In his words, the Managing Director of PropertyPro,ng, Fisayo Ogundipe said that the conference is designed to proffer solutions to Real estate issues, acknowledge, encourage and celebrate excellence amongst African Real Estate stakeholders by giving the opportunity to gain valuable exposure and well-deserved recognition for their national and global achievements in the Real estate sector.
He noted that our vision is to provide an avenue for discussions and implementations of policies that will help reshape the African Real Estate market development and growth. The event will be the first major Real estate event held in Nigeria produced in collaboration with the world’s leading development institutions.
He said that the real estate sector is experiencing a significant growth to retain its position as the 5th biggest contributor to the GDP of Africa’s largest economy.
He stressed that there is no denying the fact that real estate development can be a viable platform for the positive transformation of the Nigerian economy.
fOR HIM, sustaining the opportunities and potentials in the industry, effective collaboration between government and the private sector is germane.
The real estate sector require a lot of funding especially when dealing in such high risk investment and thus government support for the sector is key.
Ogundeji asserted that government must deliberately promote and encourage the development of the sector, only then will the Real Estate Industry in Nigeria attain greater heights.
Also speaking at the event, the Managing Director of Propertymart Real Estate Investment Limited, Fasunwon Deji has called for sanitization of the real estate sector as unprofessional elements in the sector are doing more harm than good.
He said that the increasingly cases of collapse buildings in part of the country are results of infringements and unethicalbehaviour of individuals in conducting estate.
He opined that the gains recorded in the real sector may be eroded if urgent sanitization and standardization of the real estate as the sector has become an all comer’s affairs. (The Nation)