Experts in the construction, real estate and investment sector have advised the Kwara state government to encourage partnerships with private developers to reduce the 28 million housing deficit in the state.
Speaking at the launch of the second phase of its Riyadh Golf City project located at Aliara community, Asa Dam area in Ilorin, the state capital on Wednesday, the group Managing Director of the Experience Vision Creation (EVC), Engineer Fola Oyedeji, said that the state currently has 28 million housing deficit.
“Currently, there is a total of 12 to 15 trillion housing deficit in Africa. So, private investors cannot do it. The government has to come in a form of partnership to spell progress, development and peace of mind for local Nigerians and those in the diaspora.
According to the expert, affordability is the key word in reducing housing deficit, where, they said that instalmental payments would also be allowed.
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On the increasing cost of building materials, which he described as a big concern to real estate developers, he called on the government to provide palliative to cushion the effect of hardship on citizens because the materials are imported.
“I also use this opportunity to call on real estate investors to source building materials locally to reduce increasing costs. If we enhance local productivity in building materials, we can guarantee the solution to the housing deficit. Purchasing building materials from the market is becoming unaffordable on a daily basis.
While he commended the federal government on the establishment of house mortgage facility, he described lack of access to the mortgage scheme/platform as the bane of the programme.
“It’s available but the terms and conditions had created bottlenecks around the scheme.
He advised the government to revive the creation of affordable housing facilities for its citizens. People no longer enjoy housing provision in fully completed houses with affordable costs and instalment payments.
Director of Operation, Mr. Gbenga Ibitoye, said that from time immemorial, people have fears of real estate in such areas as land fraud, multiple ownership, getting bank titles, documentation and land grabbing, adding that, “We’ve tried to solve all that with our provisions”.
He also said that the outfit hopes to change the narrative of Kwara state by encouraging investors to take part in investment opportunities in the profitable venture of housing.
Ibitoye, who said that more than 250 young homeowners have been made so far in the state, encouraged young ones to be homeowners.
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