Grace Ofure Ibhakhomu, renowned real estate developer and founder of Lagos-based Lifecard International Investment Limited, provides affordable property ownership options for the middle and higher class. At the company's 2022 end-of-year conference, the award-winning property icon discussed Nigeria's housing development potential and problems and observed that a collaborative approach is needed to solve the housing gap;
Nigeria faces a housing crisis. The most populous black nation must prepare for the future with a growing population, an economic slump, and insufficient government housing intervention initiatives.
17 million Nigerians were homeless in 2012. 28 million Americans are homeless. We must build these dwellings to suit our national needs or risk a huge housing catastrophe with even worse economic consequences.
In a speech, Labour Party presidential candidate Peter Obi said it plainly. We know our national infrastructure is failing. We're homeless. As a nation, we have inconsistently planned and funded infrastructure. We must urgently build 20 million residences, which will cost 60 trillion naira. How do you approach such a huge challenge?
‘Such estimates are difficult to understand financially. Meeting Nigeria's housing need without a unified, integrated, and cooperative approach between stakeholders is nearly impossible.
‘Government must continue to promote real estate development and homeownership subvention programmes and build appropriate legislation to govern and preserve efficient housing and infrastructure development across every industry and necessity. The government must switch from a politically tenured programme to a national housing policy with vision and commitment to maintain these measures. By doing this, government real estate ventures will enjoy lifetime patronage and growth.
Infrastructure distribution determines housing dispersion. In keeping with the UN Sustainable Development Goals (SDGs), the government must stimulate rural and urban infrastructure investment in housing, electricity, transport, irrigation, and telecoms.
‘Government and stakeholders must keep studying rural industrialisation. Well-distributed industrialisation will slow rural-to-urban migration and encourage developers to build dwellings in these locations.
‘In the private sector, real estate players must contact relevant government agencies and parastatals, banking institutions, and private equity firms to raise financing for their projects as the major hurdle for housing construction in the country is adequate funding'.
Global real estate is growing in Nigeria. True. International investors are closely monitoring African real estate, including Nigeria, but Nigerians are still coming to grips with it. Our expanding population and Nigeria's potential to become one of the world's largest economies may indicate this possibility.
Knowledge distribution will enable national housing sustainability. Real estate professionals must encourage real estate business literacy to educate Nigerians about real estate wealth development.
To pioneer a knowledge economy, the award-winning entrepreneur developed the Lifecard University to teach Nigerians with a passion for real estate how to start and scale a real estate firm without prior expertise or experience.
Technology integration might motivate Nigerians to invest in real estate developments for profit. Information technology must help Nigeria's upwardly mobile populace to invest in real estate. That manner, we can mobilise Nigerians to build Nigeria while pooling resources for our housing requirements.
Developers must offer extended payment plans for Nigerians to own their properties, like Grace Ofure Ibhakhomu's Lifecard Company, to increase involvement in the Nigerian real estate market.
“Financial institutions should establish more housing financing options through cheap mortgage facilities to encourage their consumers to purchase their homes as some of their mortgage offerings are too pricey or not simply accessible.”
Grace Ofure, herself one, feels that female inclusion in the male-dominated African real estate market will increase prospects. Because ‘women just have a capability to get the work done'. Her real estate experience and professionalism have shown this.
Nigerian businesswoman, real-estate investment specialist, life coach, and philanthropist Grace Ofure Ibhakhomu. Lifecard International Investment Limited, a real estate investment and development firm, is her MD and CEO. She founded Lifecard University, Lifecard Coinvest, and Grace Ofure Foundation.
No comments:
Post a Comment