Salaudeen Abdulmumin, is a distinguished scholar and visionary entrepreneur with an ambitious plan to build one million affordable houses for civil servants in Abuja.

He has a BSc in Architecture, a Masters degree in Environmental Resource Management, and ongoing Ph.D. studies in the same field. A graduate of the prestigious London Business School, he is the driving force behind Mahs Prudent Trust Nigeria Limited. In this interview with The Guardian, Abdulmumin speaks about his projects and plans for real estate sector.

The One-Person/One-House project in the FCT is an initiative that proposes to build 1 Million affordable houses for civil servants in Abuja. This plan will be fashioned in partnership with the FCT Minister to be a success. It is geared towards solving real estate needs for people who can barely afford it, especially civil servants who work so hard but hardly have any real estate to show for in the FCT. A partnership with the FCT Minister and the banks on this project will usher in approval and means respectively to kickstart such a ground breaking project. While the government gives us access to space to commission the project, the banks can come in as financial partners and data providers where we may need to reach the proposed beneficiaries through the use of their National Identification Numbers etc.

What drives your interest in providing affordable houses for civil servants?

My interest in providing affordable housing for civil servants in FCT Abuja stems from a commitment to address the pressing need for accessible housing for those who serve our communities. Civil servants play a crucial role in maintaining the functionality of our society, and ensuring they have affordable housing not only supports their well-being but also enhances their ability to effectively carry out their duties and have a home to call theirs even after retirement. By prioritising affordable housing initiatives, we can contribute to creating a more equitable and sustainable community for all residents of Abuja.

Elaborate your plans for the civil service housing?

Without compromising quality, I and a great team of professionals have developed a plan to build very affordable houses for civil servants in the FCT. The unmatched affordability we have developed brings 2 bedroom and 3 bedroom flats to as low as 8-10 million naira. We minted to use citizens data and enhance beneficiary mapping and ensure seamless home ownership experience for civil servants in the FCT.

As a Real Estate company in Nigeria, we encounter various challenges including navigating complex regulatory frameworks, securing adequate financing for projects, addressing infrastructural deficiencies, managing fluctuating market conditions, and overcoming land acquisition hurdles. Additionally, ensuring timely project delivery amidst bureaucratic delays and maintaining high-quality construction standards amid supply chain disruptions are ongoing concerns. Despite these challenges, we remain committed to innovation, strategic partnerships, and leveraging technology to overcome obstacles and provide exceptional real estate solutions that meet the diverse needs of our clients and contribute positively to Nigeria’s development.
Would you say your academic achievements have a role to play in your interest in this field?

My academic background has always been around managing environmental resources, the technology of building, and the activities of architecture. But making a difference doesn’t come with one’s academic achievements; I have been in the real estate business for about 2 decades and I can look at any sales dashboard and tell you that a huge percentage of the clients aren’t the everyday civil servants. The government owns the land; so why should citizens who work directly under the government be unable to own real estate? So my drive towards helping civil servants with subsidised house ownership is because I know it will align with the new administration’s Renewed Hope agenda and help thousands of people.

Do you intend to expand to other parts of the country? if yes, how soon?

We already have ongoing and completed projects in other parts of the country. Abuja is where most of it started and where we have more projects and in extension, clients. We are strategically looking into cities with great economic indicators and we are positioning to establish in such cities.

What interests you about the real estate market in Abuja and what lessons have you learnt?

What interests us about the real estate market in Abuja is its dynamic nature and significant potential for growth. Abuja, as the capital city of Nigeria, presents unique opportunities for investment due to its status as a political and administrative hub, as well as its rapidly expanding population and growing economy. Through our experiences in this market, we have learned valuable lessons about the importance of understanding local regulations, building strong relationships with stakeholders, adapting to market fluctuations, and prioritizing quality and innovation in our projects. Additionally, we have realized the significance of conducting thorough market research and due diligence to identify emerging trends and opportunities, as well as the importance of flexibility and resilience in navigating challenges. Overall, our engagement in the Abuja real estate market has reinforced the importance of strategic planning, continuous learning, and a customer-centric approach in achieving sustainable success and making a positive impact on the community.

Achieving real affordable housing in Nigeria requires a multi-faceted approach that addresses various challenges within the housing sector. This includes implementing policies that promote access to land at affordable prices, reducing bureaucratic bottlenecks in the approval and permitting process, and providing incentives for developers to invest in affordable housing projects. Additionally, fostering public-private partnerships can help mobilize resources and expertise towards affordable housing initiatives, while promoting innovative financing mechanisms such as mortgage guarantees, microfinance schemes, and rent-to-own programs can enhance affordability for low and middle-income earners. Investing in infrastructure development, including utilities and transportation networks, is also crucial for unlocking the potential of affordable housing projects and ensuring their long-term sustainability. Furthermore, prioritizing sustainable building practices and utilizing technology to streamline construction processes can help reduce costs and improve efficiency in delivering affordable housing solutions. Overall, a coordinated effort involving government, private sector stakeholders, and civil society is essential for achieving real affordable housing in Nigeria.

Housing financing has remained a major issue. What are the challenges and solutions?

Housing financing faces several challenges in Nigeria, including limited access to mortgage financing due to high interest rates, stringent eligibility criteria, and inadequate long-term funding options. Additionally, the lack of comprehensive credit infrastructure and collateral requirements often hinder individuals’ ability to access mortgage loans. Solutions to these challenges involve implementing policies that promote financial inclusion and improve access to affordable mortgage financing for low and middle-income earners. This could include establishing specialized mortgage institutions, reducing interest rates through government interventions, and providing incentives for financial institutions to offer mortgage products tailored to the needs of diverse borrowers. Strengthening credit infrastructure, such as credit bureaus and property registries, can also enhance transparency and reduce lending risks, while promoting alternative financing models such as cooperative housing schemes and community-led initiatives can expand access to housing finance for underserved populations. Ultimately, a holistic approach that addresses regulatory barriers, enhances financial literacy, and fosters collaboration among stakeholders is essential for overcoming housing financing challenges in Nigeria.

What advice do you have for individuals who intend to become players in the Nigerian Real Estate market either as a developer or an investor?

Firstly, conduct thorough market research to understand current trends, demand dynamics, and potential opportunities in different segments of the market. Secondly, establish strong partnerships with local experts, including legal advisors, real estate agents, and contractors, to navigate regulatory requirements and mitigate risks effectively. Thirdly, prioritize quality and integrity in all aspects of your projects to build trust and credibility with stakeholders. Additionally, focus on diversification and long-term sustainability by exploring various asset classes, locations, and financing options. Finally, remain adaptable and resilient in the face of challenges, leveraging innovation and creativity to capitalize on emerging opportunities and drive growth in the Nigerian real estate market.

To tackle the housing deficit in Nigeria, a multifaceted approach is necessary. This includes implementing policy reforms to promote affordable housing development and address land tenure issues, expanding access to housing finance through initiatives like mortgage refinancing and microfinance schemes, and investing in basic infrastructure to support housing projects. Public-private partnerships are vital for mobilizing resources and accelerating the delivery of affordable housing while leveraging technology and innovation can improve efficiency and sustainability in construction. Engaging with communities to understand their housing needs and involving them in project planning is crucial, alongside capacity-building efforts to enhance expertise in the sector. By implementing these solutions collectively, Nigeria can make significant strides in addressing its housing deficit and ensuring access to decent and affordable housing for all its citizens.

Land schemes as a development tool seems to be revolutionising your sector, what is driving this trend?

The trend of utilizing land schemes as a development tool in the real estate sector is being driven by several factors. Firstly, land schemes offer a strategic approach to overcoming land acquisition challenges and accessing suitable parcels for development in rapidly urbanising areas where land scarcity is a significant issue. Secondly, these schemes provide developers with a streamlined process for securing land, often through government allocations or partnerships, reducing bureaucratic hurdles and uncertainties associated with traditional land acquisition methods. Additionally, land schemes facilitate master-planned developments that incorporate infrastructure, amenities, and regulatory provisions, enhancing the overall attractiveness and sustainability of the projects. Furthermore, these schemes promote collaboration between public and private stakeholders, leveraging the strengths of each party to maximise the impact and success of the developments. Overall, the increasing adoption of land schemes reflects a pragmatic response to the complexities of land acquisition and development in Nigeria, driving innovation and efficiency in the real estate sector.

The real estate industry in Nigeria holds immense potential, characterised by rapid urbanisation, a growing population, and increasing demand for housing and commercial spaces. Despite facing challenges such as I have mentioned above, regulatory bottlenecks, infrastructural deficits, and economic uncertainties, the industry remains resilient and dynamic, attracting both local and international investors. The outlook for the real estate sector portends significant opportunities, particularly in segments such as affordable housing, mixed-use developments, and infrastructure projects. Government initiatives to promote housing finance, streamline regulatory processes, and improve infrastructure further bolster the sector’s prospects. Advancements in technology and sustainability are driving innovation and reshaping the industry landscape. Overall, while the real estate industry in Nigeria faces challenges, its outlook remains promising, with ample opportunities for growth and investment.

What has been the notable implications of quacks in your industry and how can it be curbed?

The presence of quacks in the real estate industry in Nigeria has had significant implications, including diminished consumer confidence, increased incidences of fraud and property disputes, and damage to the reputation of genuine professionals. Quacks often engage in unethical practices such as misrepresentation, non-compliance with regulations, and substandard service delivery, which undermine the integrity of the industry and pose risks to both clients and stakeholders. To curb the menace of quackery in the real estate sector, concerted efforts are needed from regulatory bodies, industry associations, and government agencies. This includes strengthening enforcement mechanisms to crack down on illegal practitioners, implementing stringent licensing and certification requirements for real estate professionals, and raising public awareness about the importance of engaging qualified and registered practitioners. Fostering collaboration between stakeholders, promoting ethical conduct, and providing avenues for recourse and redress for aggrieved parties can help mitigate the impact of quacks and uphold the integrity of the real estate industry in Nigeria.