An Abuja-based real estate developer and Chief Executive Officer, The Cape by Hall 7 Estate, Mr. Olayinka Braimoh, has lauded the current land reform by the Federal Capital Territory Administration (FCTA), stressing that it will help to protect investments in the city’s housing sector.
 
Speaking on Friday at the unveiling of The Cape Estate in Apo District of the FCT, Braimoh added that the reform is also targeted at land traders masquerading as estate developers.
  
During the tour of the estate, Braimoh explained how it will redefine the housing sector in Abuja.
 
“What we are doing is a complete direct development. I know there are some people that trade in lands; they are simply land traders and not real estate developers.
   
“The Cape by Hall 7 is a concept development that we put together for those that are looking for comfort and peace of mind in a serene environment.
 
“Situated on 20 hectres of land and designed to accommodate over 371 housing units, the estate was designed to provide a community that is carefully built to satisfy customers’ demands.
  
“And you can see that we have a stream here, the reason we call it ‘The Cape’. We develop and design our recreation around the stream. We have handled a lot of real estate projects but you can be certain that this will be better than anything we have done in the last decade,” he said.
 
Speaking on the ability of government to address high cost of housing in the city coupled with citizens’ fear to invest in land due to incessant demolition, he pointed out that majority of the victims of demolition did not follow the process of acquiring the land neither did most of them secure necessary documents before embarking on building structures.  
  
“When you talk about demolition cases, it is because they didn’t follow due processes. There are laid down processes and I am sure we have all seen the reforms that are taking place with the current land reforms in the FCT, which is a welcome development. I think that will address the issue of demolitions and all of that,” he said.