Association seeks stakeholder’s forum to proffer solution to housing problems
By Ella Anokam
Abuja, March 20, 2018 (NAN) The Real Estate Developers Association of Nigeria (REDAN) has called for stakeholder’s forum to proffer solution to housing problems in the country.
Rev. Ugochukwu Chime, REDAN President made the call on Tuesday in Abuja at the opening of the 2018 REDAN Building EXPO and two-day intensive workshop for real estate developers.
“There is need for a forum where all housing stakeholders will proffer solutions to problem of finance, land acquisition, foreclosure and factors that will ease estate and housing business,’’ Chime said.
He listed the stakeholders as bankers, lawyers, administrators, tax consultants, building material producers, policy makers, developers, estate agents, legislators, government and other members of the real estate and housing related producers.
According to him, the existing legal infrastructure and institutions will not deliver the expected affordable housing in the country.
He called for restructuring of the real estate sector in tandem with emerging trends and best global practices.
He stressed the need for the government to seek credible opinions from both bilateral and multilateral institutions as well as local inputs before implementation of the housing policies.
This, he said, would enable decent and reliable execution of government’s ideas and objectives, thus leading to a harmonised value chain.
Chime said that the 2018 Building EXPO was aimed at pronouncing to stakeholders the essence of collaboration to upscale the real estate and housing sector in Nigeria.
“The challenge to reduce the housing deficit and use it as a formidable tool for employment generation and inclusive economic growth can only be attained when housing stakeholders work together.
“Unfortunately, our focus has been on making land and finance available as the only solution to affordable housing, yet the key challenge is a collective understanding of the stakeholders in the value chain,’’ he said.
Chime recalled that after a careful appraisal of the challenges in the real estate environment, REDAN in 2015 set out ambitious agenda of building a strong institution of a coalition of collaborators of stakeholders.
According to him, the effort is burgeoning and will eventually crystallise to the desired efforts to change the real estate landscape of Nigeria.
The Trade Union Congress President, Mr Boboi Kaigama, emphasised on the need to partner with REDAN, adding that its contribution to the housing industry should not be underestimated.
Kaigama regretted that REDAN, while trying to develop an estate most times would go through a commercial bank with double digit interest rate mortgage instead of accessing the Federal Mortgage Bank of Nigeria’s single digit.
He further said that the developers which were not research oriented tend to develop houses for anticipating subscribers rather than developing for already subscribed people with the knowledge of what they could afford.
Kaigama urged the government to be committed to provision of infrastructure to enhance housing development.
“Not until the government is first putting infrastructure our plan to provide housing is a mirage. If the government is not ready then we should not bother to provide houses.
While assuring REDAN of the congress cooperation, he called for a research to know whom the houses were being developed for and affordability rate.
The two-day building EXPO and workshop, powered by FESADEB Communications Ltd. has its theme as: “Enhancing Real Estate Development Through Collaborative Effort. (NAN)
ELLA/FNO/AFA
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Edited by Felix Ajide