By Oluwatope Lawanson
A real estate firm, Gtext Homes, a subsidiary of Gtext Holdings, has launched a housing scheme at the Sardius Estate in Ijebu Ode, Ogun State, to reduce the deficit and provide affordable homes for Nigerians.
The firm’s Managing Director, Mr Farouq Usman, made this known during the launch and allocation of the Sardius Estate to landowners in Ogun State on Saturday.
Recall that the Federal Government had announced that 30 million housing units are needed to bridge the housing deficit in the country.
Usman said that with the launch of the Sardius Estate in Ijebu Ode, the company was bringing the real estate dreams, desires, and expectations of many into reality.
He revealed that plans were underway to sell affordable lands with good payment plans to assist in bridging the housing deficit in the country.
The Managing Director said the estate was planned to feature fully equipped green and smart homes that would not only be off the national grid but would be powered only by renewable energy.
Usman said the goal of the firm was to give their clients a very good payment plan so they could buy the homes.
He, however, said that if they had government initiatives that could help them get at least between N50 million to N70 million to buy a house, the firm could help them build.
The Managing Director said the firm does what it calls “off-plan sales,” which means clients could pay on an installment basis, saying that the firm builds for them, but buying off the land was not that expensive.
Speaking on the affordability of the homes, Usman said, “We as developers buy based on market forces and sell based on market forces.
There is a cost of buying the land likewise the cost of building it. But to make it affordable, it has to be from the government.
“I have often said that affordability has nothing to do with private developers but everything to do with the government and the policies of the government.
“There is a need to start policies that we call first-time buyers’ policies, such that the Central Bank of Nigeria and the Federal Government can guarantee that anybody who can develop 5 per cent or 10 per cent on their first housing unit.
“The government would bring in 20 per cent and then the lenders can bring in the remaining 70 per cent. Such policies will help reduce the housing deficit,” he said.
On her part, the General Manager of Gtext Land, Olabisi Umaru, said the firm was bridging the country’s housing deficit with the launch of the Sardius Estate.
Umaru said buying into the said property at a price as cheap as it was, gave an opportunity to start building residential houses.
The General Manager noted that this was to meet up with the community’s needs.
She said that when they start building the housing units, it would be very affordable, unlike some places, especially in Lagos, where the prices for residential houses are high
According to her, the estate is quite affordable, and it will be open for a lot of residential investments, which could also help in addressing the housing deficit.
Umaru said the esttate was good for investment,while assuring investors that they would get returns on investment.
She disclosed that the company had over 400 plots of land, with lots of incentives including luxury service plots, technology and innovations for the comfort of their clients.
