Firm showcases Badagry Homes, targets low-income earners
A real estate firm, Pertinence Limited has unveiled a new estate known as Badagry Homes and urged the government to reforms land documentation process.
The company said titling and land documentation are cumbersome, involving a lot of bureaucracy, which made housing more expensive. In some cases it takes between one year and two years for the process to be completed as a result of multiple agencies and departments to handle them.
Speaking at a media parley in Lagos, the Executive Director, Administration and Operations, Pertinence Limited, owners of ABC and VIP Gardens, Mr. Sunday Olorunsheyi, said there is need for reforms in land documentation involving the use of technology and policy that ensures infrastructure precede development for faster housing delivery.He noted that Pertinence established has since its inception seven years ago contributed immensely in reducing the housing deficits in the country as well as empowering Nigerians.
According to him, some of the firm’s signature projects are located in Lekki, Festac, Abuja, Ipaja, Asaba, Owerri, and Enugu in line with its global vision.He stressed that the new Badagry Homes is conceived to reach the low-income earners. For instance, a one room bedroom apartment goes for N2.5 million with flexible payment offer.
Other affordable schemes offerings from the firm to take care of both the lower and medium class, he said, include Ifo Phase 1 and Phase 11 at Ewekoro, in Ogun State. Olorunsheyi also said the firm also have projects for all class of the society with projects like Beechwood Estates, Shapati, Lekki, which cost about N6 million per plot with a flexible payment plan, motorable roads and world class recreation facilities. Lamenting the infrastructural challenge in housing delivery,
Also, the executive director Marketing, Mr. Wisdom Ezekiel, Mr. Wisdom Ezekiel said the firm has a strong presence in the six geopolitical zones of the country.Lamenting the effect of tardiness in land administration and infrastructural deficit on the real estate sector, Ezekiel said the firm was forced to spend N200 million in providing road for its estate in Festac, which is not fathomed in the plan.He stressed that such colossal sum could be channeled towards providing affordable housing for the low-income groups in the country.He stressed that developers can do more through private public participation if government can provide the enabling environment for all to thrive.
The firm said it has also instituted a saving scheme known as Pettisave to help low income earners accumulate fund with the ultimate goal of owning land or houses.Beyond, the firm has acquired a Microfinance Bank last year and is in the process of setting up a mortgage bank as part of its strategy to reach to more low-income earners and increase the housing stocks in the country.
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