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Women tasked on homeownership as developer adopts new housing model


Nella Andem-Rabana

Nella Andem-Rabana

Women have been advised to participate in the nation’s real estate sector in order to meet their growing needs and guarantee family’s future.

Leading the call at a seminar themed: “Essentials for Success in Real Estate Investments”  and organised for Women by Knightstone Properties Limited in Lagos,  former Attorney General/Commissioner for Justice, Cross River State, Mrs. Nella Andem-Rabana urged women not to see themselves as incapable of getting involved in the sector rather she said they could come in through cooperative  societies.

Abana said by nature, women are adequately equipped to exercise an affective influence hence, they must find a need they could meet in the housing sector just to kick-start as participant, but with the mind set of growing to become a major player and investor in real estate.

Also the Chief Executive Officer of TrustBond Mortgage Bank PLC, Adeniyi Akinlusi hinted  the  bank’s plan for  initiative for women and the youths, which would boost investment opportunities in real estate and other businesses.

He however advised that it is however, better to start with personal capital, to mitigate risks that could ensure as starters.

Akinlusi  regretted   that most Banks don’t lend money during recession because of higher rate of default pointing out that they could source for funds through Nigerian Mortgage Re-Financing Company and Federal Mortage Bank in particular, which offers a consistent  six per cent interest rate.

While  charging  women to be open-minded for investable opportunities in real sector in their environment as well as seek partnership to pursue their participation, he expressed optimism that once the underwriting standard scale through, Mortgage banks would be able to increase their lending to those who are interested.

For the team lead,  Women Banking, Access Bank PLC,  Ejike Izejobi,  participants  should explore some of the gender sensitive packages aimed at assisting the financial needs of women and their lifestyles.

Some of these packages, he said   include; Savings need capacity for women through workshops and seminar where necessary skills are given, savings for financial women and maternal health family support amongst other.

Earlier, the Managing Director of Knightstone Properties, Adeniyi Adams stressed the need for women to form clusters in order to raise funds for investment.

He advised them on the need to avoid legal pitfalls in real estate while government must also remove barriers to participating in the sector.

Also the  company’s brand ambassador and Nollywood actress, Bukky Wright advised women not to be challenged by the fact that the sector was a male dominated endeavour, saying women have what it takes to succeed in any sector just as she succeeded as a film producer in a male dominated world.

Meanwhile, the company has also has kicked off a  new strategy aimed at making  low income-earners  and the middle-class, home owners.

Speaking at a launch of its corporate identity and unveiling of its brand ambassador in Lagos, Adams said,  the company is  looking at affordable housing from two different models; first the angle of the actual cost and second; the angle of payment flexibility.

According to him, the two must combine to make house affordable to both low income earners and middle class, hence the decision to give people the opportunity not only for flexible payment but to finish their houses at their own pace from carcasses and shell structures in order to reduce cost.

He stressed that the company, which was incorporated in 2003 as Adaksa Nigeria Limited with the vision to become the lead construction firm in Nigeria with an uncompromising commitment to excellence and innovation, has transformed into Knightstone residential properties because of the difficulties with the pronunciation of the former name.

The company, he said, has executed laudable projects like,  Regal Estate Bwari (Abuja), Regal Estate-Kuje (Abuja), Regal Estate VGC (Lagos), Regal Estate-Abijo (Lagos), Rose Garden Estate, developer/financier of Permanent Site of Chalcedony School, Abijo GRA which cost over a N1Billion, amongst other projects.

On how developer can survive the current economic recession, Adams said there was the need for developers to reconsider the cost benefit analysis of products they offered, particularly with regards to the way the products are being presented to the public, stressing that housing scheme must be social contract between the people and the government.

Unveiling the new Logo; a red roofed building capped by light green and blue colours at the bottom and the firm’s brand ambassador and popular Nollywood actress; Bukky Wright and the former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George, commended the firm for its consistency with the core values of affordable housing, flexible payment plans, quality delivery and timely completion of projects noting that the company must not relent in its believe, in the future of the country.

In  his  keynote address, the Group Managing Director, HFP Engineering Limited, Mr. Dele Martins who was represented by Kingsley Olayiwola Omojola, observed that  the success in the provision of affordable housing largely depends on the seriousness and commitment of all stakeholders especially; the government in creating enabling environment that focused on  fair and transparent rules.

On his part, the Principal partner, Ubosi Eleh and Co, Chudi Ubosi called for the  provision of mortgages, reconsideration of land use decrees/title issues to expand the provision of affordable and luxurious housing.

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