A prominent Abuja-based real estate developer, Mr. Olayinka Braimoh, has commended the ongoing land reforms by the Federal Capital Territory Administration (FCTA), describing them as a critical step towards safeguarding investments in the city’s real estate sector.
Braimoh, who is the Chief Executive Officer of The Cape by Hall 7 Estate, made this known on Friday during the official unveiling of the new housing development located in the Apo District of Abuja.
While conducting a tour of the estate, he noted that the reforms are aimed at sanitizing the sector, especially by curbing the activities of individuals who engage in land speculation under the guise of estate development. According to him, genuine developers stand to benefit significantly from the reforms, which are expected to enhance transparency and restore public trust.
“What we’re delivering here is a fully developed residential community, not just land sales,” Braimoh said. “There are people who engage in land trading, but they are not real estate developers. What we offer is peace of mind, comfort, and value.”
Spanning 20 hectares and projected to feature over 371 housing units, The Cape Estate is designed to foster a tranquil lifestyle in a natural setting. Braimoh explained that the development is inspired by the presence of a stream on the site, around which recreational facilities have been thoughtfully integrated.
He also addressed concerns around the high cost of housing and fears of demolition in the FCT, attributing many past incidents to non-compliance with land acquisition procedures. “Most of the demolition cases are due to failure to follow proper procedures and lack of necessary documentation. The ongoing land reforms are a step in the right direction and should significantly reduce such issues,” he noted.
Braimoh expressed optimism that the reforms would attract more investors and provide a stable foundation for sustainable urban development in Abuja.
