Firm moves to resolve housing problem in Nigeria

July 19, 2019
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To reduce housing problem in Nigeria,  one of Nigeria’s real estate merchant has flagged housing scheme for low income earners in Nigeria.

During a facility tour to Ibeju Lekki recently, Chief Executive Officer, GtextHomes, represented by the Business Development Manager, Gtext, Mr. Afolabi Olowoyo, noted the organisation is bent on providing affordable housing and land scheme for easy payment.

He said: “At the moment Gtext already own five estates, we are starting our housing projects to at least build a thousand housing units for low income earners. We are currnetky developing Ibeju Lekki, Ikorodu and Abuja and before 2021 it should have been completed.

“Basically the most important factor is funding. We started project 10 billion naira late last year to raise fund for housing project. We have had a lot of investors but we still want more investors to come invest. We want yo sell lands and build affordable houses to solve housing problem in Nigeria which is our vision. Presently we are running plan whereby when 50 per cent is paid, there will be immediate allocation of land”.

Olowoyo further said the organisation has so far encourage investors who sees business opportunity in real estate business and also a Public Private Partnerships program to boost the real estate business.

READ ALSO: Lagos to fulfill promises to housing sector

“At the moment we are also focusing on Public Private Partnerships (PPP). We are doing joint ventures with other companies as well. We will definitely get there its just the matter of time.

“We have properties for low income earners, which enable them pay by installment and we have a lot of people who have key into this scheme. What we are doing at the moment like I said is solving housing problems. We have a vision that by 2030 we should have about 30 estates. Which will balance the high, middle and low income areas” he said.

The Customer Relation Manager , GtextHomes, Mrs. Gbemi Makinde, also said the organisation has also projected 5000 housing scheme across it five estate to reduce housing problem in Nigeria.

“Imagine investing ten billion Ankara in the real estate business, it going to make a huge difference especially in targeting people of low incoming introducing to them a flexible payment plan. We are looking at a thousand housing project on each of our five estates across Nigeria, which projects our vision for five thousand housing projects for low income earners” she said.

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