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The Group Managing Director and Chief Executive Officer of Adron Homes and properties, Aare Adetola Emmanuel-Kings, has tasked the incoming administration to embrace social housing scheme to reduce the burden of housing deficit.
He made this revelation at the real estate firm head office in Omole Phase 1, Lagos, while addressing a group of journalist.
Emmanuel-Kings expressed his worries and stated that his company in the past 10 years has been committed to providing affordable housing scheme for middle and lower classes citizens, and presently in eight states of the country.
He, however, noted that the President-Elect, Senator Bola Tinubu’s administration need to complement their effort to reduce housing deficit through social housing scheme, making properties almost free for Nigerians with flexible mortgage payment plans.
He said: “We want the government to implement Social Housing Scheme. This is coming because there are millions of Nigerians who can’t afford to buy properties. Through these initiatives, government will give almost free. If we consider what’s happening at the moment, we will see that there is no effective demand in terms of properties purchase. We are contributing our own quota but the initiative will help reduce housing deficit.
“Millions of Nigerians are just surviving; not to buy properties but to eat. Imagine marketing to them a house worth N30 million, but truthfully they can’t afford it. So if we see property developers selling for N30 million and the government is selling for three million Naira, spreading the remaining payment for years, that is what we are taking about.
“Tinubu is a about removing fuel subsidy, they should use the excess money realized to build houses. That will help the poor.
“When people live in a comfortable environment, productivity will be enhanced and the youths will be empowered to foster development because they will grow up driving the economy to our desire.”
The graduate of Estate Management from the University of Ibadan, further expressed worry over the numerous challenges affecting real estate business, calling for regulated government policies and swift intervention of the Real Estate Developers Association of Nigeria (REDAN), to flush out illegal realtors on the industry.
“We need government intervention. There is still no unification in our law up till now. Thank God REDAN has started a campaign that will ensure we all have a sticker in our offices to show we are fully registered under the association and we fully comply to the laws. If any company is not complying with the stipulated rules that govern the association, such company will be expunged after investigation. So we are a step ahead. But I still want more inclusive rules by REDAN to senitise the industry,” he said.