REDAN indentifies land, finance as major housing challenges

The Real Estate Developers Association of Nigeria (REDAN) has identified land issue and lack of finance as major challenges affecting the housing  sector.   President of the association Mr Ugochukwu Chime  said this on Wednesday at Building expo and intensive workshop for real estate developers in Abuja. Chime said that there was no finance, no access […]

The Real Estate Developers Association of Nigeria (REDAN) has identified land issue and lack of finance as major challenges affecting the housing  sector. 

 President of the association Mr Ugochukwu Chime  said this on Wednesday at Building expo and intensive workshop for real estate developers in Abuja.

Chime said that there was no finance, no access to land and no law backing estate development in the country.

“There is no real estate bill, the building of houses should be streamlined so that we will know who does what,” he said.

He said that the private sector and government did not know what was required to build a house, adding that other various components such as legal backing were not in place.

The Minister of Power, Works and Housing, Babatunde Fashola urged REDAN to take the advantage of the two billion dollar Memorandum of Understanding (MoU) it signed with Federal Mortgage Bank  and SHELTER AFRIQUE to provide affordable housing for Nigerians.

Represented by Mr Abiodun Oke, Special Adviser to minister on housing, Fashola noted that the expo would project the sector to innovations, thereby resuscitating and strengthening the industry.

Mr Anthony Okwa, Managing Director, PSkills, Training and Empowerment Programme (C-STEmp, presenting a paper entitled, “Standardisation and Local Content for Housing”  noted that standardisation can only be achieved when there are generally acceptable  guidelines in the production of houses.