Environment
TWO stakeholders in the real estate sector have attributed the lack of well-developed infrastructure as one of the many challenges facing it in Nigeria.
They said this in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Monday.
Lukman Shobowale, the Co-founder and Head of Business Development, Dukiya Investments, said that the real estate space is a viable one, with many Nigerians looking forward to having their own homes.
According to him, owning a property in Nigeria is an achievement and with the current urbanization trend, housing demands will continue to be on the increase.
Shobowale said that from the United Nations (UN) growth projections which states that Nigeria will be the third most populous country in the world by 2050, no one real estate company can fulfill her housing needs.
He said that this had made real estate a lucrative industry and one that youths should plan to explore.
“Our objective is to provide unmatched real estate service to everyone from all walks of life and we do this by reinventing the idea of comfort,” he said.
Shobowale added that the challenges being faced in the sector would be eliminated if the government can provide enabling environments through infrastructure development.
“Good road network, electricity, and automated processes of documentation, all have a role to play in how far the real estate sector will go.
“After providing housing opportunities, we must not be saddled with the responsibility of solving infrastructure issues. This amounts to double taxation,” he said.
Shobowale also urged youths intending to explore the possibilities in real estate not to limit themselves to what they had achieved within their local domain.
He said that with continuous training, Nigerian youths would pass the test of international relevance in their respective industries.
According to him, the challenge of some youths is the entitlement mentality in them which continues to limit their scopes.
“The society is fair to only those who strive to achieve their goals. Excuses are good reasons for bad results,” he said.
Similarly, Bayo Lawal, Head of Strategy and Growth, Dukiya Investments, said that many youths interested in the real estate sector were finding it difficult to blend because of its many challenges.
He described it as a tedious space that requires tenacious youths driven by knowledge.
“The housing and management sector requires innovation, competence, and negotiating expertise.
“Success in such area can only be achieved when the people involved are vast in the field,” he said.
Lawal urged the government to create more forums that will give birth to committees where fresh ideas and solutions to housing problems can be discussed. (NAN)
– Mar. 29, 2021 @ 14:10 GMT
Tags: Lack of infrastructure major challenge of real estate — stakeholders
