To address the pressing issue of the housing deficit in Nigeria, co-founder of Besitz Group, Isa Abass Usman, has underscored the importance of real estate as a pivotal social investment avenue.
Abass in a statement made available to The Guardian called for a paradigm shift in the perception of real estate from a mere profit-making venture to a vital tool for social investment.
He stressed that the focus should extend beyond financial gains to encompass the broader goal of addressing Nigeria’s housing deficit and encouraging societal advancement.
“Real estate investment goes beyond profits; it’s about making a tangible impact on communities. Our priority should be constructing affordable housing units that cater to the diverse needs of our population, by partnering with local communities and relevant stakeholders, such initiatives can provide not only shelter but also empower individuals and families to thrive economically,” he said.
Abass called for prioritizing social impact in real estate development to address the pressing issue of housing inadequacy in Nigeria effectively, hence, emphasizing the need for affordable housing initiatives tailored to the needs of low and middle-income earners.
He further highlighted the role of real estate development in promoting inclusive urban planning and infrastructure development.
He added that in addressing housing deficit in the country, there must be a comprehensive approach that encompasses innovative financing mechanisms, sustainable building practices and supportive policies.
“We must integrate mixed-use developments and essential amenities within residential projects to create sustainable communities, through strategic planning and collaboration, the strain on existing urban centers would be alleviated while ensuring equitable access to vital services.
“We need to adopt a comprehensive approach to tackle the housing deficit, by embracing innovation and community engagement, real estate stakeholders can catalyze transformative change in Nigeria’s housing sector,” he said.
Abass emphasizes the importance of promoting inclusive homeownership schemes and capacity-building initiatives, noting that homeownership should be accessible to all Nigerians through initiatives such as mortgage financing and homeownership education.
“Real estate has the power to create vibrant, inclusive communities where everyone has access to safe, affordable housing, by prioritizing social impact alongside financial returns, Besitz Group and other stakeholders can drive positive change and contribute to Nigeria’s socio-economic development,” he said.
