The Future of Housing Development is Public Private Partnership

Housing Project

Mrs Nike Animashaun, the Director, Lagos State Ministry of Housing, said the future of housing development is in affiliation of the private sectors and the government.

Government cannot exhaustively provide reasonably priced housing for Nigerians to meet growing accommodation need; more involvement is needed from the private sector, she said.

Speaking at a Growth Employment in States (GEMS) initiative on Jump-Starting Nigeria Real Estate for Global Investments in Lagos, said contributions from private firms and individuals is the only way forward for housing in Nigeria.

“Enormous opportunities and economic prosperity of affordable housing development is available for discerning investors and government seeking to create employment and wealth,” said, the GEMS2 Intervention Leader, Afolabi Imoukhuede on Affordable Residential Estate Development.

“Reasonably priced housing is one of the major interventions of the GEMS2 programme. The involvement has provided insight in the grasp and execution of inexpensive housing through resourceful avenues such as real estate conference, affordable housing demand/supply survey, and strategic partnership with relevant organisations,” he continued.

Mr. Olujide Ojo of Mutual Benefits Homes and Properties scrutinized a case study of his company’s housing expansion approaches toward the lower as well as middle marketplace.

Mr. Olujide advised property developers to aspire for lesser margins to attain long-term sustainable profits from the larger market. He pointed then in the direction of encouraging potential homeowners to walk around breaks in apartment possession to obtain homes.