Most Nigerians are unable to acquire properties developed by private investors due to rising cost of properties across the country. Thus, there is huge housing deficit currently estimated at 28 million as at January 2023.
But a real estate developer, Mrs. Oluchi Arinze, the Managing Director, Kirkwood Properties Limited told journalists in an interview that the housing deficit can be mitigated with deliberate government support to real estate investors.
She noted that the government is the biggest enabler of private businesses thus, “the government must be deliberate with policies that will ease the bottlenecks experienced in land acquisition, processing of land titles, and building approval, particularly at the sub-national levels where the lands are domiciled. The Governors should accelerate land documents approvals. There can be tax holidays on mass housing estates. These should help de-risk the Real Estate industry to attract investments and cheaper access to credit from lenders” she stated.
She also stated that “there could be special intervention funds from the government, the CBN and multilateral lenders to guarantee cheaper credits. The government can ease the bureaucracies and reduce some of the multiple charges we pay.”
Speaking on her expectations of the president Tinubu led government she said
“I am positive about this new administration. That Nigeria needs to be better is indisputable and I am certain that the present government understands the huge expectations demanded from it by Nigerians at present. I believe that this government will work hard to deliver on its campaign promises.”
She also noted that “inflation has had a great impact – negative in most cases – and no sector of the economy has escaped its tentacles, not excluding the real estate sector. However, I believe the new government is out to serve the people and I presume that was their intention for opting to be elected. “
“Through service and tenacity and the collaboration of Nigerians, I have positive hopes that this administration will foster economic growth by tackling current inflation to the benefit of all” she stated.
On the housing solutions Kirkwood brings to the table, she explained that: Kirdwood has an ongoing project called Woodland Court Estate.
She said this is a uniquely designed mixed project of fully detached duplexes, semi-detached duplexes and terrace duplexes.
“This is a fully serviced smart Estate located at DPK district Estate, Orchid road, Lekki. This location is highly sought-after. Then the second one is Multiple floor building, which consists of 1bedroom and 2bedroom apartments. This is located at Chevron Drive, right behind the Atlantic Mall, Lekki” she explained.
