So much has been said, and concerns have continually been raised about Nigeria’s worrying housing deficit. But while many experts have highlighted this as bad omen for the country, a few others are seeing this as an opportunity to tap into and create value.
With an estimated 20 million homes deficit, Nigeria would unarguably be ranked among the top five African countries with the highest housing shortage. And in major cities like Abuja, Lagos, Port Harcourt, and Calabar, one of the major constraints faced by Nigerians in those cities is the lack of a robust land tenure, and financial system.
However, hope is on the horizon, as it has been revealed that Leisure Courts, a popular real estate company, have fine-tuned plans to massively roll out low-cost houses with affordable flexible payment options for Nigerians in choice locations of Lagos.
Leisure Court’s Managing Director, Mr. Segun Abolaji, gave this hint recently during the official opening of their Lagos branch, situated inside the Lekki Phase-1 axis of Eti-Osa Local Government Area of the State. And according to him, they are coming to contribute their quota in solving the high housing deficit in Lagos. “our target cuts across all classes of life, ranging from the high to the low earners of the economy, ” he said.
Mr. Abolaji said that he sees Nigeria’s housing deficit issues as an opportunity to solve problems, and create affordable houses for ordinary Nigerians who dream of having their own homes. “There have been campaigns for affordable housing in Nigeria, and we feel we can contribute our own quota towards ensuring that.
“Right now we are starting with four sites here in Lagos. We have two sites in the Mainland area, one at Ogudu GRA and the other at Alaka Estate in Surulere. then the other two sites are in Lekki, at Aro-Ologolo, and at Orchid Road.”
Also speaking, Leisure Court’s Lagos manager, Linda Ajala, revealed that they are coming with an easy payment with a two years moratorium tailored to suit low-income salary earners.
“We are looking at building homes that everybody can afford. And we aim at cutting across all the sectors of the economy, from the high ranking members of the society, to as low as civil servants.
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“We’ll roll out different home packages. We’ll have luxury homes, and we’ll also have fine completed houses that can go for as low as N15 million.
“In addition we also have flexible mortgage facilities to ensure a stress-free payment arrangement for civil servants and those in the organised private sector,” she disclosed.
Expressing their optimism, Mr. Adebayo Sukunmi, the Abuja branch manager, said their coming to Lagos would raise the standard in the real estate sector of the state.
“At Abuja, Leisure Court has provided houses to people that never knew that they could be house owners. So we want to replicate the same success stories here in Lagos.
“We want Lagosians to also enjoy the same opportunity. Leisure Courts have come to lead the Real Estate sector in Lagos and beyond, and we are focused to achieve that.”