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Firm unveils housing scheme to reduce deficits

By Tomiwa Ajibola
17 July 2023   |   10:30 am
A firm, Gtext Homes, a subsidiary of Gtext Holdings has launched the company’s housing scheme at the Jasper Estate in Ibeju, Lekki, Lagos to provide affordable homes for Nigerians.

A firm, Gtext Homes, a subsidiary of Gtext Holdings has launched the company’s housing scheme at the Jasper Estate in Ibeju, Lekki, Lagos to provide affordable homes for Nigerians.

The event, which doubled as an opportunity to celebrate the Chairman Gtext Homes and Gtext Holdings, Dr Stephen Akintayo, on his recent nomination as the Forbes Best of Africa Leading Real Estate Company, was attended by clients, investors and members of the media who got a feel of the real estate firm’s green and smart homes housing scheme.

According to the chairman, Dr Akintayo, Jasper Estate, which is under rapid construction is planned as fully equipped green and smart homes that will not only be off the national grid but will be powered only by renewable energy.

Tagged as the future of sustainable housing, he revealed that the estate will be built complete with modern amenities like clinics, parks, a sports centre, and more, and the proximity to key facilities like the Lekki Deep Sea Port, Dangote Refineries, serene golf courses, makes it prime real estate investment.

Speaking on the affordability of the homes, Akintayo said, “We as developers buy based on market forces and sell based on market forces. There is a cost of buying the land and there is a cost of building. But to make it affordable it has to be from the government.

“I have often said that affordability has nothing to do with private developers but everything to do with the government and the policies of the government. There is a need to start the policy that we call first-time buyers policies such that the CBN and the Federal Government can guarantee that anybody who can develop five per cent or 10 per cent on their first housing, the government would bring in 20 per cent, and then the lenders can bring in the remaining 70 per cent. Such policies will help reduce the housing deficits.

“I am not a politician and the government has to decide for themselves but I think the government would be interested because the current president has an idea of what real estate is. President Tinubu was the former governor of Lagos State, so he knows the real estate sector. He mentioned it during his party screening at the primaries when he spoke about turning the economy of Nigeria. So, we in the sector we are happy that we have somebody who has that background in the system and we believe that will influence things as we move into the future.”

Also speaking at the event was Farouq Usman, CEO Gtext Homes. Asides reaffirming the company’s commitment to building smart and reliable housing, he revealed a number of additional services the company offers its clients.

He said, “The journey of building 25,000 green and smart homes by Gtext Homes has begun at Jasper Smart City Ibeju-Lekki. We are starting by launching our first four two-bedroom luxury terrace duplexes.

On the Forbes nomination, Dr Akintayo stated that he believes it is in recognition of the good work the company has done so far.

“I am encouraged and humbled. I believe there are greater days ahead and I also think it is important for young people. This is an award for the team to work hard. A company that started small and is being awarded at this level tells you nothing is impossible, if you are hardworking, have faith, and are willing to be consistent despite the challenges. We all know it’s tough to do business in Nigeria, but this is an encouragement,” he said.

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