By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Africa Housing NewsAfrica Housing News
Notification Show More
Aa
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Reading: EXPERT Seeks Bail Out Funds For Real Estate Development Companies
Share
Aa
Africa Housing NewsAfrica Housing News
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
Search
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Have an existing account? Sign In
Follow US
Africa Housing News > Blog > Real Estate News > EXPERT Seeks Bail Out Funds For Real Estate Development Companies
Real Estate News

EXPERT Seeks Bail Out Funds For Real Estate Development Companies

Fesadeb
Last updated: 2020/03/15 at 11:34 AM
Fesadeb Published March 15, 2020
Share
SHARE

MANAGING Director/CEO, Country Hill, Adewale Oshinaike has urged the federal government to provide bailout funds to real estate companies to build houses in all parts of the country to bridge housing deficit in the country.

According to the Nigerian Bureau of Statistics in PwC’s 2019 report tagged “National Housing Fund”, it was estimated that Nigeria has a deficit of 17 million houses as of 2012 and requires 700,000 houses annually compared to the less 100,000 currently being constructed.

Oshinaike said that government providing the bailout fund for private real estate companies to build the houses will speedily close the housing deficit, and also provide job opportunities for thousands of people around the country.

He added that the fund should be made available for local investors to build, sell and return the capital to the government after some particular years.

“In Dubai, government gives private organisations funds to build houses or give them land if they know that the company has money to build houses. Houses in Dubai today are more than the people who live in there and they are still building. Such ideas attract investors, visitors and tourism,” he explained.

He also pointed that government should also create policies that will allow foreign investors to invest in real estate Nigeria, saying that such kind of investment will in many solve the  housing deficit.

Oshinaike stressed that there has not been a major real estate company in Nigeria because of some instability in the economy in the last four years.

“I was in Dubai few weeks ago to speak with some investors, what those guys were asking for are what Nigeria banks cannot provide.

Source: thenationonlineng excluding headline

You Might Also Like

Velox Allocates South-South Nigeria’s First Eco Resort Estate in Port Harcourt

Silverstone Managers Unveils Suite ’N’ Crib: A Digital Leap in Lagos Rental Market

LASRERA, Others Targets Real Estate Fee Reform with Grassroots Partnership

Sokoto Breaks Ground on ₦22 Billion Housing Estate for 500 Families

Jigawa State Approves N19.6 Billion Housing Scheme for 560 Homes

Join Our Whatsapp Group

Contact Image

Join Our WhatsApp Channel

Housing TV Africa is the First Housing News Television
in Africa on Startimes Channel 149 bringing you
Housing News, Mortgage News, Construction News etc

Fesadeb March 15, 2020 March 15, 2020
Share this Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

© Africa Housing News. All Rights Reserved 2024

Welcome Back!

Sign in to your account

Lost your password?