A frontline
Real Estate Operator and Managing Director and Chief Executive Officer of
Propertygate Development and Investment Plc, Mr. Adetokunbo Ajayi, has identified some structural problems
affecting the government’s mass housing project and proposed measures to
revamp them.
In an
interactive session with the media on how Propertygate
has fared despite the recession, Ajayi explained that lack of good road
network, power supply, sewage and water remain serious impediment to make the
government’s mass housing project attractive to beneficiaries. The federal and
state governments programmes for mass housing for all, he said, require
strategic plan for enhanced implementation. He noted that the target
beneficiaries of the programme require minimum facilities in order to take
advantage of the opportunity.
Ajai said: “Our expectation as private operators is that the government
should provide enabling environment in those areas in order to encourage the
target beneficiaries to take advantage. The easiest item to get by the
government is land. But beyond the land is the issue of facilities such as good
road network, sewage, pipe borne water, electricity and others that can bring
about enabling environment.”
He lamented
that due to low income and weak purchasing power of the target beneficiaries;
the rich still buys the low-cost houses and left out to the poor, who are the
ultimate beneficiaries. Speaking on Propertygate Development and Investment
Plc, Ajayi explained that despite the tough operating climate, the company had
executed many high-profile projects in the year because of its corporate
integrity, innovation, excellent customer care and strong and dedicated human
capital. He, however, admitted that the Real Estate industry had experienced a
lot of challenges as a result of the recessionary period.
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