Property developers have called on the federal and state governments to provide the required incentives in the built environment in order to attract investors to the sector.
Speaking at the unveiling of the Mews Estate, Katampe Extension, in Abuja, operators in the housing sector stated that access to land, tax rebates by the government, among others, were vital incentives that could attract investments to the industry.
The Mews, Katampe Extension, is an estate in Abuja jointly developed by Eximia Realty Company Limited and Trio Nominees Limited.
In his remarks at the ceremony, the Convener, Abuja International Housing Show, Festus Adebayo, said investors would be attracted to the country’s housing sector if the right incentives were put in place by the government.
“I call on the Federal Government and all state governors to provide incentives in areas of access to land, infrastructure, tax rebates, etc, that will attract more investors to the delivery of affordable housing,” he stated.
The Chairman, Trio Nominees Limited and Chief Executive Officer, Eximia Realty Limited, Hakeem Ogunniran, also noted that investments in the sector would receive a boost when the government provided a conducive environment.
On the features of the Mews Estate, Ogunniran said, “It is a very simple and affordable project. Our desire was to create something unique in Katampe Extension and you know they called this place diplomatic conclave.
“So, we tried to bring some of the features that we know, such as some simple designs which value will speak to. It took us about two and half years to finish this project.
“We are happy today because at a stage, all the happenings in the economy almost affected the project, but we were able to pull through.”
The President, Real Estate Developers Association of Nigeria, Ugochukwu Chime, commended developers of the estate for being able to complete the project through partnerships that worked.
He said, “For me this is the direction of the future wherein developers can partner with other entities, pension funds and other companies that are not just development financial institutions and are able to develop projects of this nature.”
Source: Punchng
