The Lagos State Government has been urged to address the increasing housing deficit in the state which sits at 17 million.
The Managing Director and Chief Executive Officer of PWAN Perfection, Ambassador William Aimakhu, raised this concern at the Paradiso by Boulevard home allotment ceremony held in Lagos on Wednesday.
Aimakhu also urged the federal government to address the increasing cost of building materials and instability in foreign exchange.
He said, “The housing deficit in Lagos is at an alarming rate. It’s put at 17 million. But as a real estate business, we are contributing our quota to closing the housing deficit gap. We want the government to provide funds for the sector and also ensure a stable foreign exchange rate. We are looking at having bigger projects. We want the government to go into partnership with real estate developers because one major challenge confronting us is the lack of access to funds.
“For instance, this project took us 24 months. Within this period, the exchange rate has been unstable and extremely high, so we struggle as developers to meet up. But if we have access to funds, we will be able to pull through and give our allottees a longer payment plan.
“Also, the increasing cost of building materials is another factor. When we started, the cost of cement was N3,800, but now it’s over N10,000, while a ton of iron rod was N350,000, but now it’s over a million. This impacts the cost of house rent, but if we can have the support of the government, the housing challenge will be addressed.
“This structure comprises 10 units of 6-unit terrace duplexes and another four units of fully detached duplexes with a BQ. It comes with modern facilities. This is an opportunity for people to live in a home where there is security and where they can enjoy themselves. We are handing over keys to new homeowners. There cannot be a better way to end the year.
“This is not just a milestone for our company; it’s a dream come true for many families. We remain committed to delivering homes that redefine standards and create communities where dreams flourish. Today is proof that hard work and integrity pay off.”
In her opening remarks, Dr. Jayne Obioma Onwumere, founder of PWAN Group, commended the CEO, directors, and all staff members of PWAN Perfection for their tireless efforts and dedication to the success of the project.
She reiterated the group’s unwavering mission to make homeownership accessible to all Nigerians. “This milestone is a testament to the incredible work, teamwork, and resilience of the PWAN Perfection team,” she stated.
Executive Director, Mrs. Vivian Aimakhu, said, “Seeing the joy on the faces of our homeowners today is the ultimate reward. Paradiso by Boulevard is a symbol of what happens when a vision is backed by a strong team and unwavering faith. I am grateful to our team and proud of what we’ve achieved together.”
One of the allottees, Mrs. Elizabeth, expressed her gratitude to the group, “I can’t express how grateful I am to PWAN Perfection. When I invested in this project two years ago, I hoped for a home for my family, and today, they’ve exceeded my expectations. The quality of the home and the serenity of the community are unmatched.”
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