Nigerian Institute of Builders, Lagos State Chapter, has called on estate and developers to engage the services of qualified builders in carrying out their projects.
The call was made during the 33rd Conference and Annual General Meeting (AGM) of the group in Lagos.
With the theme: “Breaking Barriers and Empowering Change in Nigeria’s Real Estate Sector Process and Control”, the group pointed out that most developers are not professionals, hence the need to engage qualified builders.
“One must be very careful about any property he wants to develop,” the group said.
The conference attracted many professionals from the building sector who brainstormed on how to move forward.
Chairman of the association, Thomas Adeoye, expressed happiness with the turnout and decisions taken at the conference, which he said will go a long way in shaping the future of the body.
In her paper titled: “Implementation of Innovative Financing Models for Building Project Development, Mrs Bolanle Ibitola, who is also the Managing Director, Crayon Development Limited, spoke on how members could raise money for real estate projects.
While advocating a Real Estate Investment Trust, she pointed out that loans from banks and mortgage institutions might be a bit cumbersome because of high interest rate and collateral.
Speaking on: ”Housing Affordability And Financing,” Chief Lecturer, Yaba College of Technology, Dr.Adesina Aladeloba, reminded members that having Certificate of Occupancy (C of O) is not a guarantee of title to land and that due diligence must be followed on any land issue.
He advised that proper investigation must be carried out in the Ministry of Lands to avoid unnecessary litigation.
CEO of Akmodel Group, Dr Odegade Abdulhakeem, stated the impact of Environmental Sustainability Goal on real estate sector.
He advised builders to always liaise with Ministry of Physical Planning to ensure that they’re doing the right thing.
Secretary of the body, Mubarak Gbajabiamila, expressed happiness with the turnout; saying that the presence of Lagos State Material Testing Laboratory, Lagos State Physical Planning Permit Authority, Lagos State Development Property Corporation, Lagos State Ministry of Land and other relevant stakeholders was an indication that they are working in synergy to ensure that quality houses are constructed in the state.
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