• Odia reiterates company’s commitment low-cost homes
Real estate firm, Chateau Royal, has emphasised the importance of government’s input to reduce housing deficit and affordable and quality housing in Nigeria.
The firm also emphasised the need for real estate firms to work collaboratively with government at each stage of their project to ensure standardisation is met, thus reducing tragedies in the built industry.
Speaking at the Halleyvine Residence house opening in Lagos, Chief Executive Officer (CEO), Oluwatobi Osonuga, said that pricing is a major challenge affecting the industry in terms of cost of lands, building materials, construction and labour.
He stated that partnership is a significant tool to ease burden of the housing deficit in Lagos.
“Ours is a peculiar business environment where a developer has to buy land at an exorbitant price, perfect the documents for the said land at more cost and still source for funds, and labour at an outrageous cost without any assistance from the government. Unfortunately, the current economic realities of the country have not helped the built industry, as the cost of construction has gone up exponentially.
“We need more partnerships if we are to significantly ease the burden of the housing deficit in Lagos. We need more public/private partnerships. We need to realise that our common enemy is the homelessness plaguing the state and collaborate to fight it. Together we can build homes for every Lagosian,” he stated.
Speaking about the residence, Osonuga said: “As our flagship project, we knew we could not be mediocre in quality, especially with the unfortunate but reoccurring sub-standardisation within the industry that has led to terrible tragedies in the recent past. Hence, we spared no cost in making sure that our processes are nothing but premium from prepping the site to the foundations testing, roofing, and quality control.
“In Halleyvine Residence, we aimed to create a world where luxury meets tranquility, where architectural marvels blend seamlessly with natural beauty, and where dreams come alive. It is not just brick and mortar. From carefully curated architectural designs to meticulous engineering and tasteful designs, we have built a quality edifice that will redefine luxury living and set new benchmarks in architectural excellence whilst maintaining the core of the African system, family and communal living.”
Meanwhile, the Chief Executive Officer of Millard Fuller Foundation, Sam Odia, has reiterated its commitment to contribute significantly to Nigeria’s stock of affordable homes.
He expressed his organisation’s readiness to provide housing for national projects.
Odia stated this during the commissioning of the 5km Masaka-Luvu Road by Vice-President Kashim Shettima.
He said that his organisation would build up to 100,000 affordable homes nationwide in the next few years.
Odia disclosed that his organisation has already built more than a thousand units with immediate plans for 2,000 more, to accommodate government workers at the lowest cost possible, utilizing green, climate-smart, energy-efficient systems.
